When Todd Boehly, Clearlake Capital and the other co-investors that bought Chelsea for £2.5bn arrived in West London in May 2022, there were promises of a quantum leap forward as a business. No sooner were the owners through the door and Chelsea were briefing journalists that Boehly, then very much the main man at Stamford Bridge, was unhappy with the commercial setup he had inherited. Boehly’s background in US sport as owner of NBA and MLB franchises in particular inspired hopes that he could oversee a groundswell in sponsorship income and merchandise sales. So far, that has not materialised …
