Todd Boehly and Mark Walter in talks to sell Chelsea shares to Clearlake Capital
Ownership Discussions at Chelsea
Todd Boehly and Mark Walter, co-owners of Chelsea, are reportedly engaged in discussions to sell their shares in the club to majority owners Clearlake Capital. This potential transaction could grant Clearlake Capital, which already holds a 61.5 per cent stake, complete control of the club. Boehly, Walter, and Hansjorg Wyss each currently own a 12.8 per cent stake in Chelsea.
The arrangement for shared operational control was established four years ago when the consortium, fronted by Boehly, acquired the club for £2.5bn. However, reports suggest that the two ownership groups have experienced a stalemate for nearly two years, stemming from disagreements over strategic direction, particularly concerning plans for a new stadium.
Discussions regarding a potential deal, which could value the club at over £5bn, have recently resumed. This development comes as Mark Walter is reportedly seeking to raise funds to settle with insurers following a US federal investigation into alleged tax fraud. Walter recently sold the Los Angeles Lakers for $12.5bn, a year after purchasing the NBA franchise for $10bn, leading to speculation about his potential exit from Chelsea.
Strategic Implications and Leadership Roles
Clearlake Capital, led by Behdad Eghbali and Jose Feliciano, effectively manages the club’s operations, despite Boehly serving as chairman. Boehly’s term in this role is scheduled to conclude next summer, aligning with a pre-agreed arrangement from the time of the takeover. A sale of his shares, coinciding with his diminishing influence in daily club affairs, would align with this timeline.
Tensions between Boehly and Clearlake were also reported in 2024. Sources indicated that Boehly was dissatisfied with the club’s management and opposed the departure of former head coach Mauricio Pochettino in May 2024. Enzo Maresca subsequently replaced Pochettino, leading the team to victories in the Conference League and Club World Cup before his departure at the beginning of 2026. Chelsea finished 10th that season, missing out on European football.
Xabi Alonso was appointed as the new manager this summer, with the club investing over £280m in 12 new signings. This summer has also seen a shift in transfer policy, with the club signing experienced players like Jordan Henderson and Danny Welbeck, moving away from a previous focus on younger players.
Future Control and Stadium Plans
Should Boehly and Walter sell their shares, Clearlake would control over 86 per cent of Chelsea’s shares, gaining effective control over all club matters, including the proposed new stadium project. Boehly previously stated in March 2025 that the owners might separate if they could not agree on the future of Stamford Bridge. The club is currently evaluating options to either expand Stamford Bridge or relocate, with Earl’s Court identified as a potential new site.
Walter has maintained a low public profile at Chelsea, while Boehly was the public face of the club following the 2022 takeover. Boehly also served as interim sporting director during the 2022 summer transfer window, overseeing player acquisitions such as Raheem Sterling and Marc Cucurella. He stepped back from this operational role after 12 months, with Eghbali assuming more control on behalf of Clearlake.
An external sale of shares is considered unlikely due to the terms of the £2.5bn purchase agreement from Roman Abramovich, which requires consent from partners for any sale to a third party. This situation places Clearlake in a strong position to acquire complete control, though Boehly and Walter are expected to seek a significant premium on the £325m they paid for their shares four years ago.
The Blues have recently brought in Morgan Rogers for a fee of £117m, and he is expected to partner with Cole Palmer. The club’s Under-21s and Under-19s teams will be rebranded as Cobham Next Gen (CNG) from the start of the new season under head coach Harry Hudson.
Source: skysports.com
