Chelsea owner Todd Boehly has begun to take a step back at the club following the Premier League club’s disastrous season under his leadership.
The Blues had their worst season in 29 years, finishing 12th in the Premier League this year.
In two consecutive transfer windows, the American millionaire took over and began mega-spending.
And, having won just one of their last 10 games, a dismal season could finish on an even lower note with clashes against top four Manchester United and Newcastle to finish the campaign.
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As a result of the poor campaign, co-owner Boehly has decided to spend less time running the club, according to the Daily Mail.
The report states that over the last eight months, the American has been using 50 per cent of his time working at the club.
However, that will now be cut down to 20 per cent with appointed executives taking over.
Boehly’s time will be spent working on his other business commitments, which include the Los Angeles Lakers basketball franchise and the Los Angeles Dodgers baseball team.
Last year, he led a group led by his consortium and private equity firm Clearlake Capital to buy Chelsea from Roman Abramovich for £4.25 billion.
The United Kingdom sanctioned the Russian millionaire after his country invaded Ukraine.
After the purchase, Bloomberg claimed that Boehly was spending half of his time supervising the club’s day-to-day operations.
However, in January, he stood down as interim sporting director with the intention of gradually handing over responsibilities to executives who were settling in.
The 49-year-old was instrumental in the club’s record-breaking transfer spending, which brought in stars such as Enzo Fernandez, Wesley Fofana, Mykhaylo Mudryk, Marc Cucurella, and Raheem Sterling.
Despite investing over £600 million, it was unable to assist the club climb back up the Premier League table, with a bottom-half finish secured.
Due to the club’s poor results, coaches Thomas Tuchel and Graham Potter have been fired, with Frank Lampard serving as temporary manager until the end of the season.
Chelsea also exited both domestic cup competitions to Manchester City before being dumped out of the Champions League by Real Madrid.
Lampard is expected to be replaced by former Tottenham and PSG manager Mauricio Pochettino at the end of the campaign.
The Blues have also frozen their men’s season ticket prices for a 12th straight year, with the announcement accompanied by a statement acknowledging the season’s disappointment.
It read: “This season has not produced the results that any of us want.
“We know what we are working towards, but equally we know that will require hard work, determination and commitment.
“We all want to see Chelsea back where we belong and to share many more winning moments together at Stamford Bridge.”
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