Clearlake Takes Full Control of Chelsea as Boehly and Walter Sell Stakes

Chelsea said Wednesday that affiliates of Clearlake Capital Group will buy the ownership stakes held by Todd Boehly and Mark Walter, a move that will give Clearlake full control of one of the Premier League’s biggest clubs and end the shared ownership structure put in place in 2022.

In a statement reported by The Associated Press, Chelsea said, “Chelsea Football Club today announced affiliates of Clearlake Capital Group will acquire the ownership interest of Todd Boehly.” The club added that Clearlake also will buy Walter’s stake. Chelsea did not disclose financial terms for the transaction, and no price was announced.

The deal marks a major change at the top of the west London club, even though it does not bring in a new outside owner. Boehly has served as Chelsea’s chairman and has been the most public-facing member of the ownership group since the takeover four years ago.

Chelsea was sold in May 2022 to a consortium led by Boehly and Clearlake after former owner Roman Abramovich was forced to sell under pressure from the British government. Under that structure, Clearlake was the majority investor, while Boehly, Walter and Hansjörg Wyss held minority stakes.

Wednesday’s announcement means that arrangement is now being dismantled. Rather than operating under the multi-investor model created in 2022, Chelsea will now be controlled outright by Clearlake through its affiliates. That shifts ultimate ownership authority within the same group that bought the club, consolidating control with the private equity firm that had already supplied most of the original investment.

For Chelsea, the significance is straightforward: one of English soccer’s most prominent clubs is moving from a consortium-style governance setup to a single controlling owner within its existing ownership ranks. Boehly had become the most visible figure of the group after the 2022 sale, but Chelsea’s statement made clear that his stake will be acquired as part of the transition.

The club also said Walter, another investor from the 2022 consortium, is selling his interest as part of the same transaction. “As part of the transition, Clearlake will also acquire Mark Walter’s ownership interest and therefore acquire full control of the club,” Chelsea said in the statement.

With that, the ownership framework established after Abramovich’s exit will come to an end, and Chelsea said Clearlake will hold full control of the club.