Clearlake Capital is taking full control of Chelsea Football Club after agreeing to buy the stakes held by Mark Walter and club chairman Todd Boehly, according to a statement released by Chelsea on Wednesday night.
The club said Clearlake, which already owned 61.5% of Chelsea, is also acquiring Boehly’s holding, giving it complete control of the club. Boehly and Walter each owned about 12.8%.
The Financial Times reported that the two men will receive a combined £950 million, or $1.27 billion, for their stakes. The transaction values Chelsea at £5 billion. Boehly will step down as chairman as part of the ownership transition.
Chelsea said Swiss billionaire Hansjörg Wyss “will remain an important stakeholder and partner in the ownership group.”
The deal comes a little more than a month after Walter agreed to sell his controlling stake in the Los Angeles Lakers to Joshua Kushner and Bob Iger.
CNBC noted that the Lakers transaction renewed scrutiny of parallel federal criminal and Securities and Exchange Commission investigations into whether roughly $21 billion in investments by two insurers controlled by Walter — Delaware Life Insurance and Clear Spring Life and Annuity — were properly disclosed as affiliated or related-party transactions.
Walter’s holding company, TWG Global, said in an Aug. 26 statement that “despite what has been reported, there has been no fraud” at the company or its subsidiaries. It also said it was committed to working with the U.S. Department of Justice and the Securities and Exchange Commission to address their inquiries.
In a separate statement, Clearlake Capital co-founders Behdad Eghbali and José Feliciano singled out Todd Boehly for his role in the ownership group. They said he had been an important partner throughout Chelsea’s ownership period and thanked him for his contribution as chairman.
They added that Clearlake has been Chelsea’s majority owner since 2022 and, with full control, plans to continue investing in the club’s infrastructure, sporting performance, player development and long-term success.
Chelsea also said there would be no changes to the club’s day-to-day operations, leadership or strategy. Boehly said it had been an honour to serve as chairman and thanked the English Premier League, coaches, players, club leadership, staff and supporters.
