Chelsea chairman Todd Boehly and director Mark Walter have sold their stakes in the club to majority owner Clearlake Capital, giving the investment firm full control of the Premier League side.
Clearlake, led by co founders Behdad Eghbali and Jose E. Feliciano, has now acquired the remaining shares held by Boehly and Walter.
Boehly, Walter and Swiss billionaire Hansjorg Wyss each held a 12.8% stake in Chelsea. Clearlake previously owned 61.5% of the club.
The deal means Boehly will also leave his position as Chelsea chairman. He has held the role since 2022, when the consortium completed its £2.3bn takeover of the club from Roman Abramovich.
Abramovich agreed to the sale after the UK government sanctioned him over alleged links to Russian president Vladimir Putin. Abramovich has denied those links.
It is understood that Clearlake has paid close to £1bn to acquire Boehly and Walter’s combined stakes. The shares represent about a quarter of Chelsea, although club sources continue to value the Blues at around £5bn.
BBC Sport reported in August that Boehly and Walter were considering selling their stakes. Multiple sources have since said talks began within the ownership group after a rift became apparent in 2024.
That disagreement led both sides to explore the possibility of buying each other out. Clearlake has now completed the purchase of Boehly and Walter’s shares.
Clearlake Takes Charge as Boehly Ends Chelsea Role
Boehly, who also co owns baseball franchise Los Angeles Dodgers, described his time as Chelsea chairman as an honour.
“I would like to thank the many who helped secure a bright future for the club, including the English Premier League, the coaches and players, the talented leadership and staff at Chelsea, and the legions of dedicated fans,” he added.
“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. I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.”
Boehly and Walter have also sold their shareholding in Chelsea’s partner club, French Ligue 1 side Strasbourg.
Since the 2022 takeover, Chelsea’s highest Premier League finish came in the 2024 to 25 season, when they finished fourth. That campaign also brought the club the UEFA Conference League and FIFA Club World Cup titles.
Chelsea have also gone through a major squad overhaul during the ownership group’s four years at the club. The recruitment strategy initially focused on signing younger players on long term contracts.
The Blues finished 10th in the Premier League last season. They then appointed Xabi Alonso as their new manager during the summer.
Eghbali and Feliciano paid tribute to Boehly following the change in ownership structure. They thanked him for his “time and contribution” as chairman and said he will “always be a part of the Chelsea story and family”.
The Clearlake co founders also outlined their plans for the club. They said their focus would be to “continue investing in the club’s infrastructure, sporting performance, player development and delivering long-term success for Chelsea and the club’s supporters”.
Chelsea’s long term stadium plans remain a major issue. The club continues to consider either redeveloping Stamford Bridge or moving to a new stadium.
Sources have said those plans created tension at times between Boehly’s group and Clearlake. However, Chelsea insisted the change in ownership will not affect the club’s immediate running.
A club statement said there will be “no changes to the day-to-day operations, leadership or strategy at the club” as Clearlake assumes full control.
Walter, who co owns and serves as chief executive of global finance firm Guggenheim Partners, has also had a major change in his sporting investments.
Boehly began his financial career at Guggenheim Partners. Walter sold the Los Angeles Lakers last month for a record $12.5bn, equivalent to £9.23bn, only a year after buying a majority stake in the NBA franchise.
Separately, US federal prosecutors and the Securities and Exchange Commission are investigating companies within Walter’s wider business empire.
For Chelsea, the ownership transition now brings an end to the Boehly and Walter era as Clearlake takes full control. The club’s day to day leadership and strategy, however, are set to remain unchanged.
