Chelsea will appoint a new chairman in 2027 to replace Todd Boehly, Mail Sport understands.
As part of an extraordinary agreement the club’s American co-owners can pass the chairmanship between themselves every five years. And it can be revealed that the intention is to do just that when the opportunity arises at the end of the 2026-27 season.
Under the terms of the group’s takeover, Boehly is thought to have ‘gone first’ despite holding a minority stake.
Clearlake Capital, the private equity firm managed by fellow owners Behdad Eghbali and Jose Feliciano, have a 61.5 per cent share in the club’s holding company while Boehly has an equal split of the remaining 38.5 per cent with Hansjorg Wyss and Mark Walter.
However, the option to choose the first chairman is thought to have been connected to the terms of the 2022 sale agreement which, while there would be no negative impact or cost or interest payout from club coffers, state that Boehly’s group would be liable to pay any first losses in the event of a realisation or a sale.
Mail Sport understands that Boehly’s group hold what is termed ‘common stock’, while majority stakeholders Clearlake have ‘preferred stock’ which comes with more protection against any financial downside.
Eghbali or Feliciano could take the role themselves or may identify a third party to take the reins. No decision on who would take the chairmanship has been made, but Boehly will be removed from the post.
He would then have the option to return in 2032 should he wish to do so and should he retain his stake at Stamford Bridge. He and his group could also look elsewhere.
Chelsea have repeatedly denied rumours of issues in the relationship between Boehly and Clearlake. The parties are said to have a professional working partnership, speak on a regular basis and a signature from both Eghbali and Boehly is needed on major decisions. However, the intention to go in a different direction in the role in three years’ may suggest a feeling that improvements can be made.