Clearlake Seizes Full Chelsea Control as Boehly Exits

By Samuel Akpan

Clearlake Capital has taken full control of Chelsea after buying the stakes of chairman Todd Boehly and director Mark Walter, the club has said.

The American billionaires were part of the group that teamed with Clearlake to buy Chelsea from Roman Abramovich for about £2.5 billion in May 2022.

Until this week, the private equity firm held a majority stake of about 62 percent, with Boehly, Walter and Swiss investor Hansjörg Wyss sharing the rest.

“Chelsea Football Club today announced affiliates of Clearlake Capital Group, L.P. (‘Clearlake’) will acquire the ownership interest of Todd Boehly,” the club said.

“As part of the transition, Clearlake will also acquire Mark Walter’s ownership interest and therefore acquire full control of the Club.”

Wyss “will remain an important stakeholder and partner in the ownership group,” the statement added.

No price was published by the club as the Financial Times reported the pair would receive about £950 million in cash in a deal valuing Chelsea at roughly £5 billion including debt.

“Boehly is stepping down as chairman. It has been an honour to serve as Chairman of Chelsea Football Club,” he said.

“I have valued my partnership with Clearlake and the wider ownership group, and the collective decisions and investment we have made to support the immediate and long-term success of the Club.

“I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.”

Clearlake co-founders Behdad Eghbali and José E. Feliciano thanked him “for his time and contribution as Chairman.”

 They said he “will always be a part of the Chelsea story and family” and pledged further investment in infrastructure, performance and player development.

The club insisted day-to-day operations, leadership and strategy would not change.

The sale ends a restless ownership chapter. Chelsea finished 10th last season and have appointed Xabi Alonso as manager.

 Over the past two years, reports indicated ongoing friction between Todd Boehly and Clearlake Capital as they repeatedly discussed buying each other out due to disagreements over coaching staff, player recruitment, and plans for a new stadium.

Meanwhile, Boehly and Mark Walter maintain joint ownership of the Los Angeles Dodgers, even after Walter’s recent sale of the Los Angeles Lakers for a record $12.5 billion.