Why Todd Boehly is expected to step down as Chelsea chairman in 2027

Todd Boehly will step down from his role as Chelsea chairman in 2027 as part of an extraordinary agreement with co-owners Clearlake Capital which was formed well before their takeover was finalised, understands.

When Boehly and Clearlake joined forced with their bid to buy Chelsea in 2022, the two parties agreed to a rule which would see the role of the chair alternate between the two groups every five years, with Boehly taking the first stint. This was always agreed with Boehly keen from the start to take on the added responsibility.

In 2027, Clearlake will exercise their right to take control of the position. One of Behdad Eghbali and Jose Feliciano, Clearlake co-founders, could take the role themselves or select an outside hire. The option is not solely there for the owners to take the role on directly, even though that’s what Boehly has done.

Instead, the agreement was made to ensure that both Boehly and Clearlake get an equal say in the long-term direction of the club. Clearlake's decision to change chair therefore should not be seen as an indication of any loss of faith in Boehly, although it is true his role has changed with a step back from the football side. This also means he's a less visible presence at Cobham compared to Clearlake-Boehly's first year in charge.

Chelsea sources are also adamant that the relationship between Boehly and Clearlake remains strong despite suggestions of a rift, and any disagreements between the two parties have been purely professional and part of a culture where there is freedom to challenge.

Boehly's desire from the outset was to become chair, but the group are understood to have kept that from former chairman Bruce Buck, who was initially hoping to stay at Chelsea and had a