Chelsea chairman Todd Boehly and director Mark Walter have sold their stakes in the club to Clearlake Capital, giving the investment group full control of the Premier League side.
Clearlake, led by co-founders Behdad Eghbali and Jose E. Feliciano, previously held 61.5% of Chelsea. Boehly, Walter and Swiss businessman Hansjorg Wyss each owned 12.8%.
Chelsea confirmed that Wyss will remain involved with the ownership group, while Boehly will leave his position as chairman after four years in the role.
Boehly had served as chairman since the consortium completed its £2.3bn purchase of Chelsea from Roman Abramovich in 2022. The sale followed UK sanctions imposed on Abramovich over alleged links to Russian president Vladimir Putin, allegations the former Chelsea owner has denied.
Clearlake is understood to have paid close to £1bn for the combined holdings of Boehly and Walter, which together represented roughly a quarter of the club. Chelsea sources continue to value the club at approximately £5bn.
Ownership tensions lead to buyout
Boehly and Walter had been considering exits for some time, with discussions over their holdings becoming public in August.
Relations inside Chelsea’s ownership group had become strained, with disagreements emerging as early as 2024. Both Clearlake and Boehly’s side subsequently considered the possibility of buying out the other before the latest agreement placed full ownership in Clearlake’s hands.
Boehly said his period as chairman had been a significant privilege and expressed confidence in Chelsea’s future under Clearlake. He also highlighted the investment made by the ownership group since 2022 and thanked the club’s players, coaches, executives, staff and supporters.
Boehly and Walter have also sold their interests in Strasbourg, the French Ligue 1 club linked to Chelsea through the wider ownership structure.
Chelsea’s owners have overseen major changes since arriving four years ago, including extensive spending on young players signed to unusually long contracts.
The club’s best Premier League finish during that period was fourth place in 2024-25. Chelsea also won the UEFA Conference League and FIFA Club World Cup during the same campaign.
Last season, however, the Blues finished 10th in the Premier League before appointing Xabi Alonso as manager during the summer.
Clearlake promises continuity
Eghbali and Feliciano thanked Boehly for his contribution as chairman and said Clearlake intends to maintain its investment in Chelsea’s sporting operation, infrastructure and player-development system.
One of the major long-term issues facing the club remains Stamford Bridge.
Chelsea have continued to examine whether to rebuild their existing stadium or relocate to a new site. Differences over the stadium project had previously contributed to tensions between Boehly’s group and Clearlake.
Despite the ownership change, Chelsea said the transaction will not result in alterations to the club’s existing day-to-day management, leadership structure or strategic direction.
Walter’s exit comes during a period of significant activity elsewhere in his business portfolio. The Guggenheim Partners chief executive and co-owner recently sold the Los Angeles Lakers in a record $12.5bn deal, around a year after acquiring a majority stake in the NBA franchise.
Separately, companies within Walter’s wider business network are being investigated by US federal prosecutors and the Securities and Exchange Commission.
The Chelsea transaction now ends the divided ownership structure established in 2022 and leaves Clearlake with complete control as the club moves ahead with its sporting and stadium plans.