Chelsea co-controlling owner Todd Boehly will take a step back from handling the club’s affairs, according to Bloomberg.
The 49-year-old will dial back his involvement at the club after his first year in charge led to their worst season in 29 years.
Boehly will focus his energy on his other ventures. He has been spending 20% of his time on day-to-day activities at Chelsea.
When he wanted to take control of the club from Roman Abramovich alongside the Clearlake Capital consortium last year, he spent around half of his time at the club.
Boehly’s first campaign in charge of the Blues has gone badly wrong.
He dismissed instrumental figures within the former Chelsea hierarchy that could have helped them transition better.
Boehly then spent enormous sums on needless transfers while failing to address the problems in the Chelsea squad.
He bloated the squad by signing young players not yet ready to contribute to the Chelsea first team.
Boehly said they had a long-term plan. They sacked manager Thomas Tuchel as they did not have a good working relationship with him.
Graham Potter was appointed after Chelsea spent another ridiculous sum to take him from Brighton & Hove Albion.
The English manager failed to make the team tick and was sacked after seven months with the club in mid-table.
Chelsea had made early exits from the two domestic cups early before Real Madrid dumped them out of the Champions League.
Frank Lampard was placed in interim charge – a decision that sparked plenty of amusement around the rest of the Premier League.
Results inevitably have not improved under the former Chelsea midfielder, and they are crawling to the finish.
Boehly will now step back and leave the club to be run by the experts he hired.
- Real Madrid announce mutual termination of Eden Hazard’s contract
- Harry Kane has done the business for Tottenham, but can Levy keep him?
- Declan Rice move would break Arsenal’s transfer record
- Five best Serie A defenders money can buy
- Guardiola insists Man City ‘will give everything’ to lift FA Cup trophy