LATEST NEWS: Chelsea stakeholders Clearlake have confirmed a significant hire from Liverpool owners FSG following Todd Boehly’s departure.
In the same week that tensions have risen between Chelsea co-owners Behdad Eghbali, Clearlake Capital, and Todd Boehly, Clearlake has made a significant business move. Though unrelated to the football club, Clearlake announced the hiring of a former strategy officer from Fenway Sports Group (FSG), which owns Liverpool and MLB’s Boston Red Sox, direct competitors of Boehly’s LA Dodgers in baseball. FSG’s notable impact at Liverpool has made them well-known in England.
David Beeston, who spent over a decade at the Red Sox under FSG’s ownership, has transitioned to Clearlake, based in Santa Monica, where he will serve as managing director. Clearlake confirmed the hire on September 3, 2024, alongside other senior additions to its Operations, People, and Strategy (O.P.S) team. In the announcement, Clearlake Co-Founder and Managing Partner José E. Feliciano emphasized the importance of having the right team to drive the firm’s growth and operational reach, saying, “Clearlake is proud to welcome a group of accomplished senior executives while also promoting our talent from within.”
Feliciano, who also holds a role at Chelsea, albeit less directly involved than Eghbali, added, “As today’s acquisition of MV Credit illustrates, Clearlake is focused on broadening our global capabilities to better serve our investors, and we will continue to add the best talent and resources as we expand.” Eghbali echoed these sentiments, expressing pride in the diverse team at Clearlake, noting their ability to create innovative investment solutions while managing risk in a dynamic market.
Beeston’s background includes working directly for FSG as head of the sports management team and overseeing operations at the Boston Red Sox and the NHL’s Pittsburgh Penguins, where he served as alternate president. Last year, Beeston made headlines when the Penguins were left without key executives, prompting him to address the public. At Clearlake, Beeston’s role will not involve the same level of direct involvement in sports.
His arrival comes as Clearlake and Boehly are reportedly exploring ways to part ways in their ownership of Chelsea, with both sides interested in buying out the other to gain more control. This appointment marks another strategic move amid the ongoing shifts within the club’s ownership structure.