Clearlake close to buying out Boehly and Walter as Chelsea ownership era nears end

Clearlake Capital are closing in on a deal to buy out Todd Boehly and Mark Walter’s minority stakes in Chelsea, with Bloomberg reporting that talks have accelerated sharply in recent weeks and a deal is nearly done.

Boehly and Walter each hold 12.8 per cent of the club, stakes they acquired as part of the BlueCo consortium that purchased Chelsea from Roman Abramovich in May 2022 for £2.5 billion, with a further £1.75 billion pledged in investment. Clearlake currently holds 61.5 per cent, with the remaining 38.5 per cent split equally between Walter, Boehly and Swiss billionaire Hansjorg Wyss.

Previous attempts to restructure the ownership have repeatedly collapsed over valuation disputes, but this time a spokesperson for Walter indicated the deal will cross the line — and at a favourable price. “This potential transaction values Mark Walter’s stake in Chelsea Football Club at a premium to his initial investment and is another successful sports investment for him,” the spokesperson told Bloomberg. “After this exit, Mr. Walter intends to make future sports-related investments.”

The spokesperson also clarified that Walter did not initiate the sale: “Walter did not initiate the proposed transaction to sell his interest, which has been in the works for quite some time.”

The move fits a broader pattern for Walter, who last month agreed to sell his stake in the Los Angeles Lakers to Josh Kushner and Bob Iger in a record $12.5 billion deal. It remains unclear whether 90-year-old Wyss intends to sell his own stake as part of the same process.

The Boehly era at Stamford Bridge has been defined by extraordinary transfer activity and boardroom turbulence. Over £1.5 billion has been spent on players since the takeover, and six permanent managers have come and gone. Boehly and Clearlake chief Behdad Eghbali have clashed over the club’s direction, including plans for a potential redevelopment of Stamford Bridge.

Under new head coach Xabi Alonso, Chelsea spent £349 million on transfers this summer, bringing in 11 players while selling 17 for £382 million and loaning out 22. The club currently sit fourth in the Premier League after two wins and one defeat from their opening three matches.