Private equity firm Clearlake Capital is moving to acquire the remaining stakes in Chelsea Football Club from co-owners Mark Walter and Todd Boehly, a transaction that will grant the firm complete control of the English Premier League side.
In a statement released Wednesday night, Chelsea confirmed that Clearlake, which already held a 61.5% majority stake, would purchase the interests of both Walter and Boehly. Each executive previously owned approximately 12.8% of the club. Boehly, who serves as Chelsea’s chairman, will step down from his role following the deal.
According to a report by the Financial Times, the two investors are expected to receive a combined £950 million (approximately $1.27 billion) for their shares. The transaction places the valuation of the historic club at £5 billion. Swiss billionaire Hansjörg Wyss, another member of the ownership group, will retain his position as a significant stakeholder and partner.
Behdad Eghbali and José Feliciano, co-founders of Clearlake Capital, issued a joint statement praising Boehly’s tenure. “Todd has been an important partner throughout our ownership of Chelsea, and we thank him for his time and contribution as Chairman,” they said. They added that while Clearlake has been the majority owner since 2022, the move to full control allows the firm to focus on continuing investments in infrastructure, sporting performance, and player development.
Chelsea assured fans and staff that there would be no immediate changes to the club’s day-to-day operations, leadership structure, or strategic direction.
The sale marks another significant shift in Walter’s portfolio. More than a month ago, it was announced that Walter agreed to sell his controlling interest in the Los Angeles Dodgers’ NBA counterpart, the Lakers, to Joshua Kushner and Disney CEO Bob Iger. That transaction coincided with renewed scrutiny regarding federal criminal and Securities and Exchange Commission investigations into whether roughly $21 billion in investments by Walter-controlled insurers were properly disclosed as related-party transactions.
Walter’s holding company, TWG Global, previously stated that there was “no fraud” at the company and its subsidiaries, affirming their commitment to working with the Department of Justice and the SEC to resolve ongoing inquiries.
Five billion pounds valuation seems steep when the team struggles to find consistent form. I wonder if Clearlake will change the playing style?
Wait, Walter is also selling his Lakers stake? That is quite the portfolio cleanup. Is he retiring from sports ownership entirely?
So Boehly is finally out? I had a feeling this was coming after the chaotic few years we’ve seen at the club.