£5 billion Stamford Bridge row now at heart of Todd Boehly’s decision to sell Chelsea shares

Chelsea's long-running ownership dispute is being driven in part by a major disagreement over the club's future stadium plans, according to a new report.

Todd Boehly and Clearlake Capital are understood to have differing visions for a new home, with neither side keen to commit billions of pounds while the other retains significant influence.

Chelsea's new stadium plans key to Todd Boehly and Clearlake rift

The Blues' plans for a new stadium are at the heart of an increasingly serious power struggle between co-owners Todd Boehly and majority shareholders Clearlake Capital.

Clearlake owns 61.85 per cent of BlueCo, while Boehly and fellow investor Mark Walter each control 12.8 per cent. Despite Clearlake's majority position, Boehly still retains veto powers over major decisions.

Both Boehly and Clearlake co-founder Behdad Eghbali reportedly agree that Chelsea will eventually need to leave Stamford Bridge for a purpose-built stadium capable of generating significantly greater revenue.

However, their visions for the proposed development differ, with Earls Court among the potential locations being considered, per The Sun.

The cost of such a project could reportedly reach £5 billion, and neither camp is understood to be willing to commit that level of investment while the other retains influence over the club's overall direction.

Boehly's five-year spell as Chelsea chairman is also due to end after this season, when Clearlake will take control of the position, potentially providing a natural point for the ownership structure to change.

The two sides have reportedly been discussing a potential buyout for around two years, although agreeing on the value of their respective BlueCo stakes could prove difficult.

BlueCo spent £2.5 billion acquiring Chelsea from Roman Abramovich in 2022 and subsequently pledged another £1.75 billion towards the men's team, infrastructure and women's side.

FGG says: Chelsea's long-term stadium future needs clarity

The ownership dispute highlights just how important a new stadium has become to Chelsea's long-term ambitions.

Stamford Bridge remains an iconic home, but its limitations make a modern replacement increasingly attractive commercially.

The problem is that a £5 billion project is an enormous commitment, and it is difficult to see Chelsea making meaningful progress until their owners agree on who controls the club and how its future should look.