Todd Boehly 'refusing to back down' in Chelsea takeover battle

Cameron Smith

• 10 Sept 2024 21:30 BST
• 3 min read

Todd Boehly is “refusing to take no for an answer” as he aims to submit an offer to take full control of Chelsea.

The American billionaire is currently the Blues’ chairman and although he holds a 12.83% stake in the club, he is dwarfed by majority owners Clearlake Capital, who own 61.5% of the club’s shares.

Boehly joined forces with Clearlake Capital managing partner Behdad Eghbali in 2022 and the pair purchased Chelsea from Roman Abramovich after he was forced out following Russia’s invasion of Ukraine.

READ MORE: Todd Boehly vs Behdad Eghbali: Chelsea's civil war explained

However, the relationship between Boehly and Eghbali is now fractured and a civil war is ongoing at Stamford Bridge amid differences in opinion on multiple major issues.

Furthermore, both parties are now seeking to buy each other out, although neither are willing to give up any shares as things stand.

Sky Sports reporter Kaveh Solhekol has now provided an update on X. "Todd Boehly refusing to take no for an answer in battle for Chelsea," he wrote. "Wants to make Clearlake an offer that's too good to turn down.

READ MORE: Boehly concerned by Chelsea transfers after being ‘sidelined’ in civil war

“Clearlake have completely ruled out selling their 61.5%. Boehly won't sell his 13%. Differences now irreconcilable."

Reports have suggested that Boehly is confident of raising £2.5 billion to submit a takeover bid, although Clearlake Capital are currently unwilling to relinquish control.

Chelsea's split of shares

Although Boehly has largely been the face of Chelsea’s ownership group since Abrahmovich’s departure, his influence has diminished since stepping down as Sporting Director.

In fact, Eghbali is now the man with the most power at Stamford Bridge, and he is a key reason why the club parted ways with Pochettino.

Clearlake Capital, a private equity fund managed by Eghbali and Jose E Feliciano, currently hold a majority 61.5% stake in Chelsea, while the remaining 38.5% is split equally between BlueCo partners Boehly, Hansjorg Wyss and Mark Walter.