CHELSEA SUPPORTERS’ TRUST CALLS FOR URGENT CHANGE AS NEW OWNERS DRIVE CLUB BACKWARDS FROM ABRAMOVICH GLORY DAYS TO UNPRECEDENTED INSTABILITY AND FINANCIAL CHAOS
The Chelsea Supporters’ Trust today issues this statement highlighting the stark regression at Chelsea Football Club since the forced sale of the club by Roman Abramovich in 2022. What was once a model of sustained success and competitive dominance has, under the stewardship of Todd Boehly and Clearlake Capital, become a cautionary tale of short-term chaos, record financial losses, and declining on-pitch standards.*
When Roman Abramovich acquired Chelsea in 2003, he transformed a club that had never won the Premier League into one of Europe’s elite powerhouses. Over 19 years, the club secured five Premier League titles, two UEFA Champions League crowns, two Europa League trophies, five FA Cups, and a total of 21 major honours. Chelsea were consistent Champions League qualifiers, perennial title challengers, and a beacon of stability and ambition. Abramovich’s era, despite its controversies, delivered unmatched success on the pitch and built a global fanbase that still cherishes those golden years.
In March 2022, geopolitical events forced Abramovich to sell the club under urgent sanctions. The £4.25 billion takeover by a consortium led by Todd Boehly, with Clearlake Capital holding the majority 60% stake, was completed on 30 May 2022. The new owners promised a “clear vision” to make fans proud, invest in the squad and infrastructure, and deliver sustained success through modern, data-driven methods. They committed an additional £1.75 billion in funding.
Nearly four years later, the reality could not be more different. Chelsea have gone from better to worst in almost every measurable way:
- **On-pitch decline**: The club’s worst Premier League finish in decades came in the first full season under the new owners (12th place, 44 points – the lowest tally since 1987-88). Subsequent seasons have seen inconsistent mid-table battles rather than title challenges. As of April 2026, with 32 Premier League games played in the 2025-26 season, Chelsea sit 6th with 48 points – far from the consistent top-four contention of the Abramovich era. Multiple high-profile managerial changes (including the sackings of Graham Potter and others) have created upheaval, with no Premier League title or Champions League glory to show. While the club has secured minor European silverware – including the UEFA Conference League and the 2025 Club World Cup – these pale in comparison to the sustained excellence fans once took for granted.
- **Reckless spending without results**: The new regime has overseen the highest net transfer spend in Premier League history – exceeding £950 million since 2022/23, far outstripping any rival club. Over £1.2 billion has been committed to player acquisitions, often targeting young, unproven talent at inflated prices. Yet this “project” has delivered a bloated, unbalanced squad plagued by poor integration, injuries, and underperformance.
- **Financial catastrophe**: Chelsea have posted record-breaking losses. The 2024/25 accounts revealed a pre-tax loss of £262.4 million – the largest in Premier League history. The parent company BlueCo 22 reported £630 million in losses for the same period, pushing accumulated losses since the takeover beyond £1.5 billion (approximately £10.4 million per week). Commercial revenue has declined, the wage bill remains among Europe’s highest, and the club requires ongoing equity injections from owners just to remain solvent. Despite modest increases in overall revenue, the club’s enterprise value has risen only marginally while the on-pitch product has deteriorated.
Fans have repeatedly voiced their frustration. Protests outside Stamford Bridge have become regular occurrences, with supporters condemning the ownership’s American private-equity approach – described by critics, including former club staff, as treating Chelsea like a “financial experiment by a hedge fund.” Boehly has publicly dismissed criticism as “par for the course,” but the growing discontent reflects a club that feels adrift from its proud traditions.
A spokesperson for the Chelsea Supporters’ Trust said:
> “Roman Abramovich left a legacy of trophies, pride, and competitive excellence. Under Boehly and Clearlake, we have witnessed the opposite: chaos in the boardroom, panic in the transfer market, and a slide down the league table. Billions spent, managers discarded, and record losses posted – yet the club is further from sustained success than at any point in the last two decades. This is not progress; it is regression. The owners promised to build for the future, but they have dismantled the present. Fans deserve better. We demand transparency, accountability, and a return to the standards that made Chelsea great.”
The Trust urges the ownership to engage meaningfully with supporters, reconsider the scattergun recruitment strategy, stabilise the squad, and prioritise on-pitch results over financial engineering. Without urgent course correction, Chelsea risks becoming a permanent fixture in the Premier League’s chasing pack rather than its elite.
The Chelsea Supporters’ Trust remains committed to representing the voice of the fans who have supported the club through thick and thin. We will continue to hold the owners to account until Chelsea returns to the path of glory it once walked so proudly.

We Breathe Blue