Rumours of a split in Chelsea’s powerbase have swirled around Stamford Bridge

Rumours of a split in Chelsea’s American powerbase – strongly denied by club officials - have swirled around Stamford Bridge for months.

And today’s Mail Sport exclusive, revealing that Chelsea WILL appoint a new chairman to replace under-fire Todd Boehly in 2027, will do little to dispel them.

However, the reality is that – thanks to the extraordinary agreement struck by Boehly and majority stakeholders Clearlake Capital – a switch five years after the takeover was always likely to happen.

When the deal worth £4.25bn to buy the club from Roman Abramovich was sealed, Boehly and fellow investors Hansjorg Wyss and Mark Walter took a 38.5 per cent stake.

Clearlake, the Californian private equity firm managed by fellow owners Behdad Eghbali and Jose Feliciano, took 61.5 per cent.

All parties agreed to a clause in which the chairman could be changed every five years. But the reason the minority investors got to ‘go first’ when it came to an appointment is thanks to how the agreement was structured.

It can be disclosed that Boehly’s group hold what is known as ‘common stock’ while Clearlake have ‘preferred stock’, which comes with more protection against any financial downside.

As a result, Boehly and co got to choose the first chairman and Boehly himself – who became interim sporting director in a hectic first season – took the gig and became the face of the takeover.

Since then the minority stakeholder has had to take the majority of the considerable flak flying in the group’s direction. It was Boehly, for example, and not the others who was mocked in a Fantasy Football sketch and it was Boehly’s name that was chanted by angry supporters (along with an expletive) during a 2-2 draw at Brentford earlier this month.

Amid that