Clearlake Capital has acquired full control of Chelsea Football Club after chairman Todd Boehly and director Mark Walter sold their stakes in the club.
The development means Clearlake, led by co-founders Behdad Eghbali and José E. Feliciano, now holds full control of the ownership group.
Boehly, Walter and Swiss billionaire Hansjörg Wyss each previously held a 12.8 per cent stake, while Clearlake owned 61.5 per cent of the club. Chelsea said Wyss would remain an important stakeholder and partner in the ownership group.
Boehly, who became Chelsea chairman after the consortium acquired the club from Roman Abramovich in 2022 for £2.3 billion, will step down from his position.
Clearlake is understood to have paid close to £1 billion for the stakes held by Boehly and Walter, representing about a quarter of the club. People familiar with the transaction, however, put Chelsea’s overall valuation at around £5 billion.
The ownership change follows tensions within the consortium that reportedly became evident in 2024. By August, Boehly and Walter were exploring the possibility of selling their shares.
Boehly described his time as Chelsea chairman as an “honour” and thanked the Premier League, coaches, players, staff and supporters for their contributions to the club.
He also expressed confidence in Chelsea’s future under Clearlake’s leadership.
Boehly and Walter have also sold their interests in Chelsea’s partner club, French Ligue 1 side Strasbourg.
Since the 2022 takeover, Chelsea’s highest Premier League finish has been fourth, achieved in the 2024-25 season. During the same campaign, the club won the UEFA Conference League and FIFA Club World Cup.
Chelsea have also undergone significant changes to their squad, with the club’s recruitment strategy initially focusing on young players offered long-term contracts. The team finished 10th in the Premier League last season and appointed Xabi Alonso as manager during the summer.
Eghbali and Feliciano thanked Boehly for his contribution as chairman, saying he would remain part of Chelsea’s history and ownership family.
They said Clearlake’s priorities would include continued investment in the club’s infrastructure, sporting performance and player development, while pursuing long-term success.
Chelsea is also considering plans to either redevelop Stamford Bridge or move to a new stadium. The issue has reportedly contributed to tensions between Boehly’s camp and Clearlake.
Despite the ownership change, the club said there would be no changes to its day-to-day operations, leadership or overall strategy.
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