Todd Boehly steps down as Chelsea chairman after four years

Todd Boehly has stepped down as Chelsea chairman after selling his stake in the club to majority owner Clearlake Capital, which has now assumed full control.

Boehly and fellow director Mark Walter sold their shares in a deal that gives Clearlake complete ownership of the club.

Before the transaction, Boehly, Walter and Swiss billionaire Hansjörg Wyss each held a 12.8 per cent stake, while Clearlake owned 61.5 per cent.

Chelsea confirmed that Wyss will remain an important stakeholder and partner within the club’s ownership group.

Clearlake, led by co-founders Behdad Eghbali and José E. Feliciano, paid close to £1 billion for the stakes, representing roughly a quarter of the club.

The transaction values Chelsea at around £5 billion, according to club sources.

Boehly has held the chairman role since 2022, when the consortium bought Chelsea for £2.3 billion from Roman Abramovich following UK government sanctions. He will leave the position as part of the transaction.

In a statement on Thursday, Boehly said: “It has been an honour to serve as Chelsea chairman. I would like to thank the many who helped secure a bright future for the club, including the English Premier League, the coaches and players, the talented leadership and staff at Chelsea, and the legions of dedicated fans.

“I have valued my partnership with Clearlake and the wider ownership group, and the collective decisions and investment we have made to support the immediate and long-term success of the club. I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.”

Eghbali and Feliciano thanked Boehly for his “time and contribution” as chairman, adding that he “will always be a part of the Chelsea story and family.” They said their focus remains on investing in the club’s infrastructure, sporting performance, player development and delivering long-term success for supporters.

A club statement confirmed there will be “no changes to the day-to-day operations, leadership or strategy” following the deal. Boehly and Walter have also sold their shareholding in Chelsea’s partner club, French side Strasbourg.