Behdad Eghbali, co-owner of Chelsea Football Club and founder of Clearlake Capital, has secured his place among London’s elite property owners with the purchase of a penthouse in Mayfair for over £56 million. This acquisition marks the most expensive apartment deal in the UK for 2024.
The luxurious penthouse, located in London’s prestigious Mayfair district, features state-of-the-art amenities, including a private cinema, swimming pool, and spa. According to Bloomberg, Eghbali acquired the property at the start of the summer, further deepening his ties to London. This follows a previous purchase in 2023, when Eghbali bought another apartment in the same area for approximately £34 million.
Strengthening Roots in London
Eghbali’s significant investment in London’s high-end property market underscores his growing involvement in the city, particularly as Chelsea FC begins to show signs of improvement on the field. Since co-purchasing Chelsea FC with US businessman Todd Boehly in 2022, Eghbali has been a visible figure in UK football, frequently attending matches at Stamford Bridge and away fixtures.
Clearlake Capital holds a majority stake of over 60% in Chelsea FC, with the remaining ownership shared by investors led by Boehly. Following a disappointing 2022/2023 Premier League season, where Chelsea finished 12th, Boehly scaled back his involvement, leaving Eghbali to take on a more prominent role in the club’s management.
Luxury Property Market Trends
Eghbali’s purchase comes at a time when London’s luxury property market is experiencing a downturn. According to Savills Plc, sales of homes priced above £5 million dropped 23% in the first three quarters of 2024, marking the market’s worst performance since the COVID-19 pandemic in 2020. Factors contributing to the slump include increased stamp duty and the removal of preferential tax benefits for ultra-wealthy foreign residents.
Despite these challenges, mega-deals continue to defy the trend. Notable recent transactions include American billionaire Tom Ford’s acquisition of a Chelsea mansion for over £80 million and Abu Dhabi’s ruling family’s £61.5 million purchase in Holland Park.
While it is unclear if Eghbali secured his penthouse at a discounted price, reports suggest that over a third of homes sold in Mayfair and neighboring St. James’s areas saw price reductions, with some properties discounted by as much as 30%.
What You Should Know
Chelsea FC’s acquisition by Clearlake Capital, Todd Boehly, Mark Walter, and Hansjörg Wyss, under the BlueCo group, was finalized in 2022 for £4.25 billion. This marked the end of Roman Abramovich’s 19-year tenure as owner.
Eghbali’s recent investments in Mayfair signal his long-term commitment to London, both as a property owner and a key figure in Chelsea FC’s operations. As he continues to solidify his influence in the city, Eghbali’s name is becoming synonymous with luxury, leadership, and ambition.
Richlist Nigeria will continue to track and celebrate the milestones of influential individuals like Behdad Eghbali, whose financial prowess and strategic investments make them standout figures in global wealth and luxury.
