Since purchasing Chelsea Football Club from Russian billionaire Roman Abramovich in May 2022, American businessman Todd Boehly has assumed control of the club’s daily operations. Under his leadership, the team has finished 12th, sixth, fourth, and 10th in the Premier League—England’s top-tier football league—over the past four seasons. However, the club has struggled to secure a major trophy or qualify for European competitions, which many consider the bare minimum for a club of Chelsea’s status. Following the departure of manager Thomas Tuchel, the club has gone through five permanent and four interim managers, reflecting ongoing instability in leadership. Chelsea has also undergone significant financial and personnel changes. The club has employed five different sporting directors and invested around $2.37 billion (£1.78 billion) in acquiring 60 new players, according to the transfer data website Transfermarkt. Notable signings include Ukrainian forward Mykhailo Mudryk and English winger Raheem Sterling. Despite this spending, the club has recorded a record-breaking pre-tax loss in the Premier League. To comply with financial regulations, Chelsea sold its women’s team to itself in a move that is often seen as an accounting strategy to balance its books. Boehly and his co-owner Mark Walter, who initially bought their 12.8% stakes in the club at a valuation of $3.3 billion (£2.5 billion), sold those shares to investment firm Clearlake Capital for $6.7 billion (£5 billion). This represents a doubling of the club’s perceived value in just four years, with the Financial Times reporting that their profit was “modest” despite the substantial investment made by Boehly, Walter, and other new owners. This type of ownership model—where investors buy and sell stakes in sports teams as financial assets—has become increasingly common in the Premier League. This approach prioritizes financial control and profit over competitive success or fan engagement. Clubs are often treated as investment opportunities, with ownership changes occurring with little public fanfare. Similar strategies have been seen with the Glazer family’s ownership of Manchester United and Mark Walter’s ownership of the Los Angeles Lakers. Recently, a group including Amazon founder Jeff Bezos purchased a 30% stake in Liverpool for $2.2 billion (£1.65 billion), a massive profit compared to the $464 million (£300 million) the previous owners paid in 2010. While this model has proven profitable for investors, it has not necessarily translated into on-field success or stronger connections with fans.