Todd Boehly has left Chelsea after Clearlake Capital bought out his and Mark Walter’s shares, but the change is unlikely to affect the club’s daily running because Clearlake was already the dominant force. His departure nevertheless highlights the breakdown of the ownership partnership and could have implications for major decisions such as Stamford Bridge’s future.

Boehly became Chelsea’s public face after the £2.5bn takeover in 2022, but his brief involvement in recruitment brought costly mistakes, including roughly £300m spent on unsuitable players and Raheem Sterling’s £325,000-a-week contract. His perceived footballing naivety, outspoken comments and association with the club’s chaotic early transfer strategy damaged his reputation, while Clearlake and Behdad Eghbali increasingly assumed control and introduced a more structured approach centred on specialist directors and young players.