sport news Inside Chelsea's power axis: Rumours of a rift between Todd Boehly and Behdad ... trends now

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 backdrop, the revelation that a new chairman – potentially Eghbali or Feliciano and definitely a Clearlake appointment – will arrive in three years’ time could be viewed as a sign of unhappiness and a desire to move in a different direction.

That, however, is highly unlikely to be the case. While no longer chairman, Boehly would retain his stake. He would also have sign-off with Eghbali on any major decisions, as has been the case since the deal went through. If he so wished, he could return to the role in 2032.

After a hectic introduction, which included the sacking of Thomas Tuchel and the hiring and firing of Graham Potter, Boehly has taken more of a back seat this season. As a result, there is a feeling of irony that such a move has coincided with the deluge of criticism aimed in his direction.

The 2027 switch does perhaps paint a more complex picture of the dynamics involved but insiders say it would be wrong to see it as a vote of no confidence or indicator of a failing relationship but more an inevitability, thanks to the terms of the deal.