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Chelsea Football Club is reportedly set to appoint a new chairman in the near future, as they have decided to remove the incumbent, Todd Boehly. Since taking over in the summer of 2022, Boehly has sanctioned the signings of over £1 billion worth of players. However, the team’s performance on the pitch has not reflected this investment, with Chelsea finishing 12th in the Premier League last season and currently sitting in 11th place.
It has been widely reported that there was an agreement between Boehly and the other owners of the club that the chairman position could be changed every five years. As part of the acquisition of the Stamford Bridge club, the decision to replace Boehly was expected at this point. According to the Daily Mail, the board has now made the decision to remove Boehly and appoint a new figurehead.
The chairmanship can pass between the owners, so it is possible that one of Behdad Eghbali or Jose Feliciano, the managers of Clearlake Capital, may take on the role. Clearlake Capital currently owns a 61.5% stake in Chelsea, while Boehly and two other members control the remaining 38.5%.
While no decision has been made on who will become the next chairman, it is clear that Boehly will be removed from the position. However, there is a possibility that he could retake the role in 2032, as the terms of the agreement state that the chairman can change every five years.
Despite the change in leadership, there is unlikely to be a significant shift in Chelsea’s operations. The club will continue to focus on recruiting quality young players and investing in their development. However, there may be more turnover of funds, as over £1 billion has already been spent in the first two years under Boehly’s chairmanship.
