Todd Boehly has sold his entire stake in Chelsea FC and stepped down as club chairman. The American billionaire's departure gives Clearlake Capital full control of the Premier League side.
Clearlake Capital affiliates have agreed to buy the shares of Boehly and his fellow owner Mark Walter. Swiss billionaire Hansjorg Wyss will stay on as a significant shareholder and strategic partner in the new ownership setup. The club told fans the change will not affect day-to-day management or team activities. A new chairman has not been appointed.
Boehly, Walter and Wyss each owned an equal share when their group, BlueCo, purchased Chelsea from Roman Abramovich. Clearlake holds most of the shares in BlueCo. Boehly and Walter have also sold their interest in Chelsea's partner club, French side Strasbourg.
"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," Boehly said. He added, "I am confident that Chelsea is well positioned for continued success under Clearlake's leadership." Boehly thanked the Premier League, coaching staff, players, club employees and the global Chelsea fanbase.
The change occurs with Chelsea in ninth place in the Premier League, having earned seven points from their opening five matches. Their last game was a 3-0 loss to Brentford. You can also view the current standings and the team's squad list.
While in charge, Boehly served as interim sporting director and presided over significant spending on young players signed to lengthy deals. The co-founder of Eldridge Industries called his time as chairman an honor. Chelsea's ownership is now entirely under Clearlake Capital.
This story first appeared at VnExpress International Sports
