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.
According to Bloomberg, Boehly is currently 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.
A team led by Boehly and his private equity company Clearlake Capital purchased Chelsea for £4.25 billion last year, replacing Russian billionaire Roman Abramovich, who was subject to sanctions when his nation invaded Ukraine.
Boehly first focused around half of his time on Chelsea’s daily operations, according to Bloomberg.
Boehly will 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.
To help Chelsea compete for the top awards in England and Europe, Boehly, 49, was happy to invest hundreds of millions of pounds on new players.
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.
Chelsea’s worst season since finishing 14th in 1993–94 would see them place 12th in the Premier League standings.
