Petit pointed to the possible sale of fan favourite Conor Gallagher as a prime example.
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"Chelsea selling Gallagher? If anything summed up the board of Chelsea, it is this," Petit told Genting Casino.
"Can you believe that? They are running the club into the ground.
"Boehly has signed so many players that he may have to get rid of Gallagher, one of their most important players.
He's one of the only leaders, too, so it really is crazy to be a Chelsea fan right now.
"I'm happy I wasn't around in the Boehly era."