A dull day at Chelsea? It is nearly impossible. Ever since the UK government sanctioned Chelsea’s then-owner Roman Abramovich, it has been one hell of a rollercoaster ride for the club.
Under their new ownership, Chelsea has yet to steady their feet. They continue to sail through troubled waters, but now, the foundation’s vessel is shakier than ever. It appears that there is a rift between Todd Boehly and Behdad Eghbali. The pair have been the face of the West London club since Abramovich’s forced departure. Fans have implored the owners to fight for the club, which in a sense is exactly what they’re doing… they’re each fighting for control at the expense of the other.
Who Owns What?
Although Boehly and Eghbali have appeared to be at the front of all things Chelsea since May 2022, they actually have wildly varied levels of power.
Whilst many have assumed Boehly called the shots more than anyone else, he is in fact a minority investor. The American only holds a 12.8% stake – the same as allies and fellow billionaires Mark Walter and Hansjorg Wyss.
Amidst the race to buy Chelsea in 2022, Eghbali-led private equity firm Clearlake Capital formed a consortium with the aforementioned investors. Together, they acquired the Premier League club for £2.5 billion (US$3.3 billion) in May 2022. Clearlake has since held a 61.5% stake in Chelsea. The remaining amount is equally held by Boehly, Walter and Wyss.
Therefore, Eghbali is really the man at the top of the mountain.
Where the Influence Lies
As more reports have come in by the day regarding the alleged tension between the two sides, the ‘truth’ has been revealed as to how the club has been run. It appears that the different parties have very different approaches, with the partnership now becoming difficult to maintain.
The takeaway is that Boehly would rather hire a sporting director and football-educated staff to make decisions, with the owners distancing themselves. He does not believe that owners should be hands on a day-to-day basis. Whilst Boehly believes in a multi-club model and data and youth-led approach, he would make exceptions for older and proven players. A priority for Boehly is planning for a Stamford Bridge rebuild or a new stadium as soon as possible.
Eghbali and Clearlake, on the other hand, would also prefer sporting directors. However, there is an insistence on being involved in all football decisions. And much like Boehly, is heavily data and youth-led.
Where the appears to be a stark difference is when it comes to managers and football knowledge. Boehly prefers stability with coaches, whilst Eghbali can be more ruthless with them. As for football knowledge, with Eghbali wanting to be heavily involved, there are doubts from the Boehly side in regard to Eghbali’s capabilities.
What Chelsea needs?
There are two ways this could go. One could be both sides waiting the season out and seeing how Enzo Maresca’s first season at Chelsea will go. From there, the two sides can make a based decision. The other way is obvious, either Eghbali and Clearlake lose this war, or Boehly does.
There are obvious pros and cons to both sides, and it is clear that a partnership between the two is possible, and may perhaps be the best way moving forward. However, one side may end up losing out.
An argument on Boehly’s case is his eagerness for the club’s stadium’s future. According to reports, the plan is to either renovate Stamford Bridge or to move and build a huge new stadium at Earls Court. Boehly’s wish is to hasten the plans regarding the stadium.
The two sides together bring a similar approach to how Abramovich ran the club. What makes the Russian Billionaire different is his deep understanding of football, something the Americans have yet to prove. This is another point that makes Boehly’s argument valid. After all, it doesn’t make sense for someone who does not have a proper understanding of football to be involved in the day-to-day decisions of a football club.