American businessman and Chelsea co-owner Todd Boehly has stepped down from the Premier League club.
There have been reports of an ownership conflict in Chelsea with businessmen Todd Boehly and Mark Walter on one side and majority owner Clearlake Capital on the other.
Now Chelsea have announced that billionaires Boehly and Walter are being bought out and that Clearlake Capital is acquiring their shares.
The duo owned 12.8 percent of the club along with Hansjörg Wyss, who is also stepping aside, according to the BBC. Clearlake’s share has already risen to 61.5 percent.
“It has been an honour to serve as Chairman of Chelsea Football Club. I would like to thank everyone who has helped to secure a bright future for the club, including the Premier League, the coaches and players, the capable management and staff of Chelsea and all the dedicated supporters,” Boehly said in a statement.
Together with Clearlake, Boehly, Wyss and Walter entered Chelsea in 2022 through the BlueCo Chelsea consortium.
The change of ownership took place after Russia’s full-scale invasion of Ukraine, where previous owner Roman Abramovich had his assets frozen.
“Hansjörg Wyss will remain an important stakeholder and partner in the ownership group,” the club wrote in a statement.
During the Boehly era at Chelsea, player turnover was high and the club has spent millions of pounds.
