Clearlake Capital, the private equity group that owns the controlling share in Premier League team Chelsea, has snatched a key executive away from Liverpool owners Fenway Sports Group.
Clearlake Capital, Chelsea’s largest stakeholder, has hired a senior executive from Fenway Sports Group (FSG), which owns Premier League rivals Liverpool.
David Beeston has been named managing director of Clearlake’s O.P.S. business, after leaving his position as co-head of FSG’s sports marketing agency Fenway Sports Management. Beeston also collaborated closely with FSG’s NHL and MLB franchises, the Pittsburgh Penguins and Boston Red Sox.
The American lawyer was not significantly connected with Liverpool during his tenure at FSG, but City A.M. reports that his new work with Clearlake will mean ‘a major amount of his time will be devoted to Chelsea’.
“We’re proud of the multifaceted team we’ve built, who possess the expertise needed to develop and deploy flexible and creative investment solutions, while managing risk, in today’s dynamic market,” Clearlake co-founder Behdad Eghbali said when Beeston was introduced as one of many new recruits.
“We welcome our new team members and congratulate our long-tenured senior executives on their well-deserved promotions.” Eghbali is seen to be the most important Clearlake figure at Stamford Bridge, and he now looks to be at odds with fellow Chelsea co-owner Todd Boehly.
Clearlake controls 61.5% of the club, while Boehly has a minority 12.8% interest, and the pair’s relationship is said to be beyond repair. Both Clearlake and Boehly are examining their options for Chelsea’s future.
Both parties are thought to be attempting to buy each other out, but it remains to be seen whether a deal can be achieved. “I don’t know if anything will happen, to be honest,” Chelsea manager Enzo Maresca remarked when questioned about the issue earlier this month.
“I have no idea. The only thing I can say is that we are moving in the right direction with football, and the squad is developing. I believe the players are competent enough to comprehend these types of situations; they are beyond our control.
“The main focus for me is exactly the main focus for the players, on the pitch, we need to do the things to improve and this is the main target for them, for me and for all of us.”
