The Transition of Chelsea FC Under Todd Boehly’s Ownership

Former Chelsea owner Roman Abramovich was compelled to sell the club in 2022 after being sanctioned by the then-UK Prime Minister Boris Johnson. His close ties to Russian President Vladimir Putin led to the freezing of his assets following Russia’s full-scale invasion of Ukraine, a conflict that continues to unfold.

This situation opened the door for Todd Boehly to assume control of Chelsea. Initially, Boehly’s $3 billion offer to purchase the club was rejected in 2019; however, a consortium led by the American businessman ultimately acquired Chelsea for £4.25 billion. The British government approved the takeover on May 25, 2022, and the sale was finalized on May 30, signaling the end of Abramovich’s 19-year ownership.

Boehly’s tenure at Chelsea has not been without its challenges. His management style has drawn criticism, especially following the dismissal of fan-favorite coach Thomas Tuchel shortly after he took over. Subsequent managers including Graham Potter, Frank Lampard, and Mauricio Pochettino faced similar fates during his early time at the helm.

However, under the guidance of Enzo Maresca, Chelsea appears to be on an upward trajectory. The Italian coach successfully led the Blues back to the Champions League in his debut season, alongside securing the UEFA Conference League and the Club World Cup within his first year in charge.

Boehly, who is also an investor in the LA Dodgers and LA Lakers, has experience managing dissatisfied fans. When asked about handling criticism, he remarked, “Sometimes my wife and my family take it differently than I take it. I just find it’s one more person that doesn’t know what they’re talking about.”

He also took a jab at the media, stating, “The English papers remind me every day how smart they are and how stupid I am.”

Expressing optimism about Chelsea’s future, Boehly asserted, “You’re going to continue to watch our team evolve and grow. We’ve got them together for a long time. I’m pretty excited about what the future looks like.”

Chelsea’s inaugural season under Boehly was disappointing, finishing 12th in the Premier League. However, there has been notable improvement, with the club finishing sixth in the 2023-24 campaign and achieving a top-four finish last season.

As of the current season, Chelsea stands third in the league, six points behind leaders Arsenal, following a commanding 3-0 victory over Wolves.

Boehly also emphasized the importance of expanding Chelsea’s global brand, stating, “We’re trying to grow a global fan base. If your fan base is continuing to grow all around the world, that should lead it to naturally believe that your revenue is going to continue to grow.”

Chelsea boasts a well-established global following, which notably expanded after Abramovich’s takeover in June 2003. Under his leadership, Chelsea secured five Premier League titles, two Champions League titles, and two Europa League titles, solidifying their status as a European powerhouse.

As of February 2024, Chelsea has an estimated 136.7 million social media followers across various platforms, including X, Facebook, and Instagram.

While Abramovich was forced to sell Chelsea in 2022, the proceeds from the £2.5 billion sale remain frozen in a UK bank account. Abramovich intended for the funds to aid “all victims of war,” but the UK government maintains that the money can only be utilized for humanitarian purposes.

A spokesperson for the Foreign, Commonwealth & Development Office stated, “This government is working hard to ensure the proceeds from the sale of Chelsea FC reach humanitarian causes in Ukraine as quickly as possible. The proceeds are currently frozen in a UK bank account while a new independent foundation is established to manage and distribute the money. UK officials continue to engage with Mr. Abramovich’s representatives, experts, and international partners to expedite a resolution.”

The UK government’s stance remains unchanged, even after the Labour party’s victory in the recent elections, affirming that the funds can only be allocated for humanitarian efforts in Ukraine.