Todd Boehly, the co-owner of Chelsea FC, has acknowledged that mistakes were made during his first year at the club. He made the admission during a private event at Stamford Bridge stadium in London, which was attended by bankers and associates. While Boehly did not elaborate on the nature of the mistakes, the event was billed as an opportunity for him to discuss his plans for the club in the upcoming season.
Goldman Sachs investment banker Anthony Gutman was reportedly among the attendees at the event. Goldman Sachs was one of the banks that assisted Boehly and private equity firm Clearlake Capital in their £4.25bn takeover of Chelsea last year. Representatives for the club and Goldman Sachs declined to comment, while Boehly was not available for comment.
Boehly has had a disappointing start to his tenure at Chelsea. He has spent around £500m on player acquisitions with the aim of helping the club compete for major trophies in England and Europe. However, the team has struggled to score goals and is on course to end the season without any silverware or the possibility of qualifying for European competitions.
Chelsea's exit from the UEFA Champions League tournament after a 0-2 loss to Real Madrid CF on Tuesday was the latest in a series of poor performances that have left the club languishing in the bottom half of the English Premier League. Boehly has already sacked two managers, Thomas Tuchel and Graham Potter, since taking charge, contributing to a feeling of instability at the club.
While fans have largely blamed players and coaches for the team's poor performance, there are signs that this is changing. Boehly was seen remonstrating with angry supporters during Chelsea's recent 1-2 defeat to Brighton & Hove Albion FC. Current and former players, including defender Thiago Silva, have also called for a clearer strategy.
This represents a stark contrast to the success enjoyed by the club under its previous owner, Russian billionaire Roman Abramovich. Abramovich was forced to sell Chelsea after Russia invaded Ukraine in early 2022.
The private event at Stamford Bridge was originally scheduled to take place in autumn 2022 but was postponed due to the funeral of Queen Elizabeth II.