Ownership changes at Chelsea
Mark Walter and Todd Boehly are nearing an agreement to sell their stakes in Chelsea Football Club to majority owner Clearlake Capital. This potential transaction is expected to result in a profit for both Walter and Boehly on their initial investment in the club.
Walter, Boehly, and Swiss billionaire Hansjorg Wyss each acquired 12.8 per cent of Chelsea when Clearlake Capital purchased the club from Roman Abramovich in 2022. The consortium bought Chelsea for £2.3 billion in June 2022.
A spokesperson for Walter confirmed that an agreement for the sale of his stake is close. Boehly is also anticipated to sell his shares and depart the club, while Wyss’s future position remains unclear.
Details of the transaction
The potential transaction values Walter’s stake in Chelsea Football Club at a premium compared to his initial investment, marking it as another successful sports investment for him. Walter did not initiate this proposed transaction to sell his interest, which has been under discussion for some time.
Walter’s spokesperson indicated that he intends to pursue future sports-related investments after this exit. Walter and Boehly have a history of business association and are co-owners of other sports teams, including the Los Angeles Dodgers in Major League Baseball and the WNBA’s Los Angeles Sparks.
The overall valuation of Chelsea is projected to be around £5 billion if the agreement is finalised. Discussions regarding a potential sale have intensified in recent months, following two years of initial talks.
Walter’s decision to sell comes amid a United States Department of Justice investigation into his business dealings. Federal investigators are examining insurance companies owned by Walter, who needs to raise funds to settle with insurers over alleged tax fraud. His holding company, TWG Global, has denied any wrongdoing.
Impact on the club
Boehly initially adopted a hands-on approach during Clearlake’s first season of ownership and was considered the public face of the investment alongside Behdad Eghbali and Jose E Feliciano, who manage Clearlake’s investments. However, Boehly has since taken a less prominent role.
Sources familiar with the discussions, who spoke anonymously, indicated that an agreement for Clearlake to acquire Walter’s and Boehly’s shares is close. The possibility of an internal buyout within the consortium has been present since reports emerged two years ago about a strained relationship between Boehly and Clearlake.
Representatives for Chelsea and Boehly were contacted for comment regarding these developments. The club’s funding under the BlueCo project reached £4.2 billion by the end of June 2025.
Industry valuers have recently estimated Chelsea’s worth at a figure that is not significantly higher than the current owners’ equity commitment. There is an incentive for sellers to achieve a higher price, but Clearlake may be hesitant to acquire more shares at too low a cost, as this could signal a lower market value for Chelsea than initially hoped.
Clearlake does not have an immediate desire to sell, but there is a need for Chelsea’s value to increase in the near future. In spring 2022, when the club was for sale, Joe Ravitch, co-founder of Raine Group, the merchant bank handling the sale, predicted that Chelsea and other top Premier League clubs could be worth over $10 billion in five years.
This prediction, however, is likely to fall short of accuracy. Walter recently sold his majority interest in the Los Angeles Lakers for $12.5 billion, having acquired the NBA team for $10 billion just 14 months prior.
Source: standard.co.uk