TODD BOEHLY is confident he has a £2.5billion fund to end Chelsea’s civil war with a takeover bid.
The Blues co-owner has fallen out with majority owners Clearlake Capital, fronted by Behdad Eghbali.
It looks likely that a takeover from either side will be the only way to solve the boardroom breakdown, but Clearlake are adamant they will not sell and have no need to.
Despite that, Boehly is preparing to test their resolve with a takeover attempt by raising £2.5bn through other investors.
On the other side, Clearlake are open to having a conversation with Boehly over buying his stake and consider there to be only two routes out of the situation – they either make up or increase their majority shareholding with a takeover.
Private equity firm Clearlake, run by Eghbali and co-founder Jose E Feliciano, own a controlling 61.5 per cent stake while the remaining 38.5 per cent is split equally between Boehly and businessmen Mark Walter and Hansjorg Wyss.
Boehly has no interest in selling his individual stake meaning any takeover offer from Clearlake would have to encompass the full 38.5 per cent stake.
Billionaire Boehly was the face of the Chelsea takeover in 2022 and led sporting decisions during the ownership’s first transfer window.
However, Eghbali has now taken a far more hands-on role in the running of the club.
The Californian businessman works closely with sporting directors Paul Winstanley and Laurence Stewart and was heavily involved in the summer window which saw 13 new players arrive at Chelsea – while Conor Gallagher, Trevoh Chalobah and Raheem Sterling all left.
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Both owners have attended games at Stamford Bridge this season and were reported to be in the same box ahead of the Premier League opener against Manchester City.
However, the two were both on the club’s pre-season tour of America and were not seen together.
All decisions made at the club currently have to be signed off by Eghbali, Feliciano and Boehly and there has been huge change on the pitch and behind the scenes at Stamford Bridge since the trio took control.
Work on a new stadium, however, has stalled with there thought to have been clashes between the owners over proposals for a new home.
All parties are keen to find a resolution to the current situation in the boardroom, which is threatening to only add to the on-pitch chaos Chelsea have suffered under their American owners.
Boehly and Clearlake arrived at the club following Roman Abramovich’s forced sale promising a change from the hire-and-fire culture but are onto their fifth different manager with a spend of over £1.2bn and are yet to deliver a trophy.
The American ownership have taken a radical approach to ownership, stockpiling expensive young talent on contracts as long as nine years while also sailing close to the wind on the Premier League’s financial rules.
Meanwhile, Chelsea fans on social media appear to be backing Boehly over Eghbali – albeit grudgingly – in any power struggle.
One said: “Boehly because he has a sporting background and is not rigid with his policy. Not afraid to make (a) big signing.”
Another argued that the American was aiming to “be successful, to win everything and sign star players in the process” – whereas “Eghbali / Clearlake took over Chelsea FC to make money, buying young players on low wages, success is secondary”.
But supporters are still unhappy at the club’s spending spree under new manager Enzo Maresca reaping mixed rewards so far with the Blues just 11th.
They did win 6-2 at Wolves last time out in the Prem but some fans reckon Chelsea still need “up to three more attackers”.
It came after the Blues splashed out more than £220million on their 13 summer newcomers, although Jadon Sancho‘s deadline arrival from Manchester United was on loan.
