Chelsea fans react as club chairman Bruce Buck steps down after 19 years
We have been eagerly anticipating big news from SW6 this summer, and we finally have it. Not any resolution on the Jules Kounde saga, not any finalisation of Romelu Lukaku’s departure, but this one comes from behind the scenes.
However, don’t let it deter you from realising the seismic consequences of this decision – Bruce Buck has stepped down as Chairman of Chelsea Football Club, a club statement announced.
The Todd Boehly era is well and truly underway. We expected big changes this summer, and this is the first of many. Does it now set up a domino effect? It very well could.
Boehly and Clearlake Capitals’ takeover of the club was always going to lead to a renovation of the club’s internal structure, which meant that few or even many important boardroom figures from Roman Abramovich’s reign were likely to leave.
Bruce Buck’s departure is a big one. It’s the first time in nearly two decades that the chairmanship has opened up at Chelsea, although it’s not likely to be vacant very long. The Telegraph (Subscription Required) suggests that Boehly himself will assume Buck’s role.
Both of Chelsea’s outgoing and supposedly-incoming Chairmen have one thing in common – they are both Americans who have been behind the two biggest takeovers in Chelsea’s history.
Buck was born in New York but came to England in 1983 to forge a career in law and business. He was the European Head of the American law firm Skadden, Arps, Slate, Meagher & Flom – which specialises in mergers, acquisitions and capital market, as per the Independent.
Back in the day, Buck had been involved in facilitating many acquisitions for Sibneft (now known as Gazprom Neft). Who was Sibneft’s majority shareholder at the time? Roman Abramovich.
Helping Abramovich’s acquisition of Chelsea was Buck’s first experience of taking over a football club and almost two decades later, another acquisition draws the curtains on his chairmanship.
It hasn’t been without its fair share of criticism and doubt, but there is no denying that Buck’s tenure has overseen the most successful period in the club’s history. The 76-year-old will continue to remain in capacity as a senior advisor.
Here are some reactions on Twitter to the latest development:
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