For the past few years, Chelsea has been known for their brow-raising transfer policy. Players after players came into the club but things seem so far away from working out. Lately, a war of cash reportedly occurred on the board level.
Clearlake Capital, a firm that owns the club’s majority share owner intends to gain more power over the club’s operational run. On the other hand, Todd Boehly, the club’s man-in-charge, and interim sporting director, also wants to have more shares of the club’s ownership.
A bad blood between the bosses
GiveMeSports via Bloomberg wrote that Boehly and Clearlake representative, Behdad Eghbali, are having a “strained relationship”. With that being the case, both parties are exploring the possibility of buying each other out.
Boehly’s influence and role within the club has been diminished a few seasons back. For that reason, he plans to raise about £2.5 billion to gain more control over the club, almost double the amount that he and Clearlake purchased to take over Chelsea from Roman Abramovic.
Several sources understand that it is unlikely for Clearlake to let go of the 61.5% stake and want the club to run as it is today. Clearlake even intends to buy more stakes from Boehly, as well as minority investors such as Mark Walter and Hansjorg Wyss.
What caused this heat was that Boehly had a different opinion from Eghbali on how the club should be run. For example the handover of delegation regarding the stadium revitalization plan which initially given to architect Janet Marie-Smith.
But lately, Clearlake appointed Populous, who was behind the Tottenham Hotspur Stadium, as an advisor. This dispute made both men reportedly see each other rarely and even speak less often.
Clearlake indeed holds more stakes than Boehly at the club, but individually the 50-year-old businessman still has more than Eghbali. However, the latter was the one who decided the appointment of Enzo Maresca as the club’s current tactician.
As things stand, Clearlake is committed to the future of Chelsea, planning the sustainable business model for the club. What has been happening lately is just how the majority owner reacted to the stagnation the club endured during Boehly’s tenure.