Todd Boehly, owner of Chelsea, would reportedly reduce by half his day-to-day engagement with the team after they had a disappointing campaign despite investing £600 million on new players.
The American entrepreneur’s first season in charge will end with the Blues finishing in the bottom half of the Premier League.
Todd Boehly is reportedly only devoting 20% of his time to managing the Stamford Bridge club, down from 50% in the months immediately following his takeover in May 2022, according to Bloomberg.
Roman Abramovich, a Russian billionaire who was subject to sanctions as a result of his nation’s invasion of Ukraine, was replaced as the owner of Chelsea by a consortium led by Boehly and his private equity company Clearlake Capital last year for the sum of £4.25 billion.
Boehly first focused around half of his time on Chelsea’s daily operations, according to Bloomberg.
However, he will now be able to dedicate more time to his other professional obligations, such as the Los Angeles Lakers basketball team and the Los Angeles Dodgers baseball team, as a result of this.
Additionally, he is a co-founder and the current CEO of Eldridge Industries, the financial institution that supports the proprietor of the Hollywood Reporter and Variety publications.
The 49-year-old Boehly was happy to spend hundreds of millions of pounds on new players in an effort to get Chelsea in contention for England’s and Europe’s top honours.
They spent more than £600m on players including Enzo Fernandez, Wesley Fofana, Mykhaylo Mudryk, Marc Cucurella, and Raheem Sterling in the last two transfer windows, during a campaign that saw Thomas Tuchel and then Graham Potter fired as managers.
This being Chelsea’s worst season since finishing in 14th place in 1993–1994 has seen them place 12th in the Premier League standings, currently on 43 points with two games left.
