Chelsea FC’s Billion-Pound Transformation Under New Owners
Football fans barely had time to catch their breath when Chelsea FC hit the headlines with its record-shattering £4.25 billion sale. Todd Boehly and Clearlake Capital Group took the reins in May 2022, ending Roman Abramovich’s storied era in West London. This wasn’t just a routine change of hands — it was one of the most expensive sports takeovers ever and signaled a massive shift in how the club would be run.
Clearlake Capital locked in a 61.5% majority, while Boehly and his partners Mark Walter and Hansjörg Wyss picked up smaller stakes, leaving Boehly with around 13%. This share might sound minor, but Boehly wasted no time stepping up as chairman, doubling as interim sporting director and quickly making his presence felt. The spending spree that followed was dizzying: more than £1 billion thrown into transfers, more than 39 new faces added to the Blues’ squad.
Anyone expecting instant results was left disappointed. After all that investment, Chelsea stumbled to a 12th-place finish in the 2022/23 season — their worst in decades. Fast forward to the 2023/24 campaign, and 6th place wasn’t exactly a cause for celebration either. Despite a revolving door of promising talent, the team just couldn’t find its rhythm on the pitch.
Business First, Football Second? The Fans Push Back
The chaos wasn’t limited to results. By September 2024, behind-the-scenes drama cranked up another notch. Clearlake Capital’s top brass — Behdad Eghbali and Jose Feliciano — decided they’d had enough of sharing influence. They tried to buy out Boehly’s remaining stake, aiming to take total control and end his run as the visible face of the club.
More big spending followed, with another £190 million splashed out on new talent in 2025, now under the direction of freshly-appointed manager Enzo Maresca. While the club clawed back about £100 million by selling and loaning out players, the transfer net spend still raised eyebrows across the league. Fans, already on edge from years of underwhelming performances, became even more vocal. Many accused Clearlake of treating Chelsea like a business experiment, chasing market returns instead of football glory. Some called for Boehly to take back full charge, hoping a single, football-minded leader might fare better.
Right now, Chelsea feels caught between two worlds: boardroom intrigue and the relentless demand for results on the pitch. With so much money and pride tied up in every decision, the stakes have never been higher for the famous West London club — or its passionate supporters.
