Chelsea have moved into a new phase of ownership after Clearlake Capital acquired the remaining interests held by chairman Todd Boehly and director Mark Walter, giving the private equity firm full control of the Premier League club.
The change was announced by Chelsea on Wednesday, with the club stressing that there would be no immediate alterations to its day-to-day operations, leadership or overall strategy.
“Chelsea Football Club today announced affiliates of Clearlake Capital Group, L.P. (‘Clearlake’) will acquire the ownership interest of Todd Boehly,” the club said.
It added that Clearlake would also acquire Walter’s stake as part of the transition.
Clearlake previously owned 62 per cent of Chelsea, while Boehly and Walter held the remaining shares alongside fellow investor Hansjorg Wyss. Wyss will retain his position as an important stakeholder in the ownership group.
The financial terms of the transaction were not disclosed by Chelsea. However, the Financial Times reported that Boehly and Walter were expected to receive about £950 million in cash, with the deal valuing the club at approximately $5 billion, including debt.
Boehly and Walter were part of the consortium that purchased Chelsea from former owner Roman Abramovich for £2.5 billion in May 2022.
Boehly subsequently served as chairman during a period marked by substantial spending on players and changes in the managerial structure. Chelsea finished 10th in the Premier League last season and appointed Xabi Alonso as their new manager.
Reports had indicated growing differences between Boehly and Clearlake over the direction of the club, including recruitment, managerial appointments and plans concerning a potential new stadium.
There had also been reports that the two ownership factions had explored buying each other out on several occasions during the past two years.
Despite his exit from the ownership structure, Boehly expressed confidence in Chelsea’s future under Clearlake.
“It has been an honour to serve as Chairman of Chelsea Football Club,” he said, adding that he valued his partnership with Clearlake and the wider ownership group.
“I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.”
Clearlake co-founders Behdad Eghbali and Jose E. Feliciano thanked Boehly for his contribution as chairman.
The ownership transition leaves Clearlake as the club’s controlling shareholder, while Wyss remains involved.
Boehly and Walter will continue their sporting business interests outside Chelsea. The pair are co-owners of Major League Baseball’s Los Angeles Dodgers, while Walter recently sold his stake in the NBA’s Los Angeles Lakers franchise for $12.5 billion.
