It is reported that Chelsea owner, Todd Boehly would reduce by half his day-to-day engagement with the team after they had a disappointing campaign despite investing £600 million on new players.
The Blues are set to finish the season in control in the bottom half of the Premier League with the American business man in his first season as owner.
Bloomberg reports that Boehly is now spending just 20 percent of his time on the running of the Stamford Bridge club – down from 50 percent in the months straight after his May 2022 takeover.
The £4.25bn buy-out last year saw a consortium which included Boehly and his private equity firm Clearlake Capital take over the running of Chelsea from Russian billionaire Roman Abramovich, who was sanctioned following his country’s invasion of Ukraine.
This will allow Boehly to devote more time to his other business commitments, including the Los Angeles Lakers basketball and Los Angeles Dodgers baseball teams.
He is also co-founder and chief executive officer of Eldridge Industries, the investment firm that backs the owner of Hollywood Reporter and Variety magazines.
Boehly, 49, was happy to spend hundreds of millions of pounds on new players in an effort to get Chelsea competing for the major honours in England and Europe.