Chelsea have entered a new ownership phase after Todd Boehly and Mark Walter sold their stakes in the Premier League club to Clearlake Capital.
The deal gives Clearlake full control of Chelsea, more than four years after the private equity firm joined Boehly and other investors to purchase the club from Roman Abramovich.
Boehly and Walter were part of the ownership group that completed the £2.5 billion takeover of Chelsea in May 2022.
Clearlake had previously held a 62 per cent stake, with Boehly, Walter and fellow investor Hansjorg Wyss holding the remaining shares.
That structure has now changed significantly.
Chelsea confirmed the latest development in an official statement, announcing that Clearlake would acquire Boehly and Walter’s ownership interests.
“Chelsea Football Club today announced that affiliates of Clearlake Capital Group, L.P. (‘Clearlake’) will acquire the ownership interest of Todd Boehly,” the club said in a statement.
“As part of the transition, Clearlake will also acquire Mark Walter’s ownership interest and therefore acquire full control of the Club”
The financial details of the transaction have not been officially disclosed.
However, reports have suggested that Boehly and Walter valued Chelsea at around £5 billion, while the Financial Times reported that the pair were expected to receive approximately £950 million in cash from the deal.
That valuation reportedly puts the club at around $5 billion, including debt.
The change marks the end of Boehly’s direct involvement in Chelsea’s ownership structure after he previously served as chairman.
Reflecting on his time at Stamford Bridge, Boehly described his role as a privilege while expressing confidence in the club’s future.
“an honour to serve as Chairman of Chelsea Football Club”
“I have valued my partnership with Clearlake and the wider ownership group, and the collective decisions and investment we have made to support the immediate and long-term success of the Club,” he said.
“I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.”
The ownership transition comes after a turbulent period for Chelsea on the pitch.
The Blues finished 10th in the Premier League last season before appointing Xabi Alonso as their new manager.
Boehly had reportedly been unhappy with aspects of the club’s direction, including recruitment, managerial decisions and plans surrounding a potential new stadium.
There had also been reports of disagreements between Boehly and Clearlake, with the two sides reportedly making several attempts to buy each other out over the past two years.
Despite the ownership change, Chelsea insist there will be no immediate disruption to the club’s daily running.
Clearlake co-founders Behdad Eghbali and Jose E. Feliciano thanked Boehly for his contribution during his time at the club.
They thanked Boehly “for his time and contribution as Chairman.”
“There will be no changes to the day-to-day operations, leadership or strategy at the Club,” the statement said.
Wyss, meanwhile, will continue to hold an interest in Chelsea.
The club said Wyss “will remain an important stakeholder and partner in the ownership group.”
Boehly and Walter will also continue their involvement in American sports, with the pair remaining co-owners of Major League Baseball side Los Angeles Dodgers.
Walter recently sold his stake in the Los Angeles Lakers basketball franchise for $12.5 billion.
For Chelsea, however, the focus now shifts to what Clearlake’s full control means for the club’s next chapter.
The ownership structure has changed, but the club’s stated day-to-day operations, leadership and strategy are set to remain unchanged.
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