Clearlake Seizes Full Control of Chelsea: Boehly and Walter Offload Stakes

Clearlake Capital has solidified its control over Chelsea Football Club, acquiring the remaining stakes held by chairman Todd Boehly and director Mark Walter. This strategic move leaves Clearlake, spearheaded by co-founders Behdad Eghbali and Jose E. Feliciano, as the sole majority owner of the prominent Premier League club. Prior to this transaction, the ownership structure saw Boehly, Walter, and Swiss billionaire Hansjorg Wyss each holding 12.8%, while Clearlake maintained a 61.5% stake. It has been confirmed that Wyss will continue his involvement as an important stakeholder and partner within the club.

With this shift in ownership, Todd Boehly will step down from his role as chairman, a position he has occupied since 2022. Boehly's tenure began when a consortium, which included himself, Walter, Wyss, and Clearlake, purchased Chelsea from Roman Abramovich for an estimated £2.3 billion. This acquisition followed the UK government's sanctioning of Abramovich due to alleged links with Vladimir Putin, allegations which Abramovich has consistently denied. Clearlake is reported to have paid approximately £1 billion to acquire the two stakes, representing about a quarter of the club's ownership, though sources close to the deal suggest Chelsea's overall valuation stands around £5 billion.

Reports from August indicated that Boehly and Walter were considering selling their shares. Sources suggest that discussions were initiated after a discernible rift emerged within Chelsea’s ownership group in 2024, leading both parties to explore mutual buy-out options. Reflecting on his time, Boehly expressed it had been an "honour" to serve as chairman. He extended his gratitude to the Premier League, the club's coaches, players, leadership, staff, and dedicated fanbase. Boehly also emphasized his appreciation for his partnership with Clearlake and the broader ownership collective, conveying his confidence in Chelsea's strong positioning for sustained future success. Concurrently, Boehly and Walter also divested their shareholding in Chelsea’s partner club, Strasbourg.

In response to the transition, Behdad Eghbali and Jose E. Feliciano conveyed their appreciation for Boehly’s "time and contribution" as chairman, affirming that he would "always be a part of the Chelsea story and family." They articulated Clearlake's renewed focus on continued investment across critical areas including infrastructure, sporting performance, player development, and fostering long-term success for the club. Chelsea management has assured that these ownership changes will not impact the club's day-to-day operations, current leadership, or strategic direction.

Since the 2022 takeover, Chelsea's performance has seen varied results. The club achieved its highest Premier League finish under the new ownership, securing fourth place in the 2024-25 season. During that same season, Chelsea also celebrated victories in the Uefa Conference League and the Fifa Club World Cup. More recently, the club concluded the last season in 10th position and subsequently appointed Xabi Alonso as manager in the summer. A notable characteristic of this period has been a high turnover of players, initially driven by a strategy to sign young talents to extensive long-term contracts. Furthermore, ongoing plans for the redevelopment of Stamford Bridge or a potential relocation to a new stadium have, at times, reportedly generated tension between Boehly’s faction and Clearlake.

Outside of Chelsea, Mark Walter, who is also the co-owner and chief executive of Guggenheim Partners, recently made headlines by selling the Los Angeles Lakers for a record $12.5 billion, just a year after acquiring a majority stake in the NBA franchise. It has also come to light that companies within Walter’s extensive business empire are currently under investigation by US federal prosecutors and the Securities and Exchange Commission.