Chelsea owner Todd Boehly will ‘cut his daily turnout in half’ after a poor season

Chelsea owner Todd Boehly will reportedly halve his daily stake in the club after they endured a poor season despite a £600m outlay on new players.

The Blues will end the American businessman’s first season in control of the bottom half of the Premier League.

Bloomberg They report that Boehly now spends just 20 per cent of his time running the Stamford Bridge club, down from 50 per cent in the months after its May 2022 takeover.

The £4.25bn purchase last year saw a consortium including Boehly and his private equity firm Clearlake Capital take over management of Chelsea from Russian billionaire Roman Abramovich, who was sanctioned following Russia’s invasion of Ukraine. his country.

At first, according to Bloomberg, Boehly spent half of his time focused on daily activities in Chelsea.

Chelsea have endured a difficult season and are on course to finish in the bottom half of the league.

Disgruntled Chelsea fans at Stamford Bridge disagree with Boehly during a match last month

In January, he stepped down as the club’s interim sporting director, always planning to gradually relinquish the responsibility over time as the executives he appointed took up residence.

This will allow Boehly to spend more time on his other business commitments, including the Los Angeles Lakers and Los Angeles Dodgers basketball teams.

He is also the co-founder and CEO of Eldridge Industries, the investment firm that backs the owner of the Hollywood Reporter and Variety magazines.

Boehly, 49, was happy to spend hundreds of millions of pounds on new players in an effort to make Chelsea contend for top honors in England and Europe.

They have paid out over £600m in the last two transfer windows signing the likes of Enzo Fernández, Wesley Fofana, Mykhaylo Mudryk, Marc Cucurella and Raheem Sterling.

But that hasn’t translated into success on the pitch during a season that saw Thomas Tuchel and then Graham Potter sacked as managers.

Chelsea would finish 12th in the Premier League table, what would be their worst season since finishing 14th in 1993-94.

They were beaten by Manchester City in both domestic cup competitions and lost to Real Madrid in the Champions League quarter-finals.

It’s been a baptism of fire in English football for Boehly (right) and co-owner Behdad Eghbali

Graham Potter was hired, then fired after only a few months due to poor results.

Caretaker manager Frank Lampard has failed to create an improvement in Chelsea’s results

Frank Lampard took over as caretaker manager after Potter’s sacking, but results have not improved. Mauricio Pochettino is expected to be Chelsea’s next permanent manager.

However, the Chelsea women’s team have enjoyed a much better season. They will secure another Women’s Super League title this weekend if they beat Reading, having won the FA Cup by beating Manchester United at Wembley.

They lost to Barcelona in the semifinal phase of the Women’s Champions League.

Chelsea have decided to freeze season ticket prices for the men’s team for the 12th consecutive year.

A statement accompanying this announcement read: ‘This season has not produced the results that any of us want.

‘We know what we are working for, but we equally know that it will require hard work, determination and commitment.

“We all want to see Chelsea back where we belong and share many more winning moments together at Stamford Bridge.”

Chelsea conclude their season with a visit to Manchester United on Thursday night and a home game against Newcastle on Sunday.