Chelsea will appoint a new chairman in 2027 to replace Todd Boehly, Mail Sport understands.
As part of an extraordinary agreement the club’s American co-owners can pass the chairmanship between themselves every five years. And it can be revealed that the intention is to do just that when the opportunity arises at the end of the 2026-27 season.
Under the terms of the group’s takeover, Boehly is thought to have ‘gone first’ despite holding a minority stake.
Clearlake Capital, the private equity firm managed by fellow owners Behdad Eghbali and Jose E. Feliciano, have a 61.5 per cent share in the club’s holding company while Boehly has an equal split of the remaining 38.5 per cent with Hansjorg Wyss and Mark Walter.
However, the option to choose the first chairman is thought to have been connected to the terms of the 2022 sale agreement which, while there would be no negative impact or cost or interest payout from club coffers, state that Boehly’s group would be liable to pay any first losses in the event of a realisation or a sale.
Chelsea will appoint a new chairman in 2027 to replace Todd Boehly, Mail Sport understands
Boehly (right) became a co-owner of Chelsea in 2022 after being part of a consortium alongside private equity firm Clearlake Capital, which included Behdad Eghbali (left)
Mail Sport understands that Boehly’s group hold what is termed ‘common stock’, while majority stakeholders Clearlake have ‘preferred stock’ which comes with more protection against any financial downside.
Eghbali or Feliciano could take the role themselves or may identify a third party to take the reins. No decision on who would take the chairmanship has been made, but Boehly will be removed from the post.
He would then have the option to return in 2032 should he wish to do so and should he retain his stake at Stamford Bridge. He and his group could also look elsewhere.
Chelsea have repeatedly denied rumours of issues in the relationship between Boehly and Clearlake. The parties are said to have a professional working partnership, speak on a regular basis and a signature from both Eghbali and Boehly is needed on major decisions. However, the intention to go in a different direction in the role in three years’ may suggest a feeling that improvements can be made.
Boehly has been the target of anger from Chelsea supporters and widespread criticism in sections of the media given he is viewed as the face of the takeover. While Eghbali has remained in the background he is seen as influential in the day-to-day running of the club.
It has been rumoured that Boehly has a more long-term approach and that Eghbali and Feliciano are under pressure from investors to deliver a speedier return. However, those close to Clearlake say that is not the case and insist that they are also in West London for the long-term.
Boehly has been on the receiving end of fan anger after Chelsea’s struggles during his tenure
Mail Sport understands that as part of an extraordinary agreement the club’s American co-owners can pass the chairmanship between themselves every five years
Chelsea are currently 11th in the Premier League and came in for heavy criticism when they lost the Carabao Cup Final to a young Liverpool side. They also made a pre-tax loss of £90.1m in the 12 months to June 30.
While a change in chairmanship would be a key move, there is unlikely to be a dramatic shift in how the club operates. A commitment to signing young talent from across Europe, for example, would remain.
Under Boehly and Clearlake, Chelsea have invested in many areas outside of a heavy spend on the playing squad. The amount that has been approved for scouting, data, sports science and performance will represent as much as a ten-fold increase on that of the Roman Abramovich era.
While there is an acceptance that mistakes have been made, the belief is that a change in fortune is not a million miles away and that a raft of appointments into senior positions will bear fruit.
Chelsea are five points behind West Ham in seventh and have two games in hand on the Hammers, while they have also been hit by injuries to key players. There is also the view that the new group were hamstrung when they arrived in 2022 given plans for that summer’s transfer window were already in place.
In recent months some have questioned whether the club’s ambitions have changed since the takeover. However, the aim of the ownership group is thought to remain the same: a Chelsea that wins matches, competes in the Champions League and brings trophies to Stamford Bridge.
The American is viewed as the face of the takeover, but his co-owners are also influential
Mauricio Pochettino’s side are currently 11th in the Premier League after a difficult campaign
There has also been a major focus on the club’s commercial operation. Insiders say that under Abramovich staff faced little pressure to hit targets as the view was that the oligarch would simply write a cheque to cover debts at the end of each month.
That environment has now changed, with substantial growth seen as key, especially given the Premier League’s Profit and Sustainability Rules.
