Boehly Steps Down as Chelsea Chair Amid Full Takeover by Clearlake

Todd Boehly has officially resigned as chair of Chelsea Football Club following the sale of his 12.8% ownership stake, alongside Mark Walter’s matching 12.8% share, to Clearlake Capital—the consortium’s largest shareholder.

Clearlake Capital, co-founded by Behdad Eghbali and José E. Feliciano, now exercises full control over the club. Prior to the transaction, Clearlake held a 61.5% stake in Chelsea, while Boehly, Walter, and Swiss billionaire Hansjörg Wyss each held 12.8%.

According to a statement issued by Chelsea and cited by BBC Sport, Wyss “will remain a shareholder and important partner in the ownership group.”

Boehly assumed the role of chair in 2022 when the consortium acquired the club from Roman Abramovich for £2.3 billion—following UK government sanctions imposed on Abramovich over alleged ties to Russian President Vladimir Putin, a connection he denied.

Clearlake is understood to have paid approximately £1 billion for the combined 25.6% stake—representing roughly one-quarter of the club—though club sources confirm Chelsea’s current valuation stands at around £5 billion.

Background to the Ownership Shift

BBC Sport reported in August last year that Boehly and Walter were exploring the sale of their stakes. Multiple sources indicate discussions within the ownership group began after a rift emerged in 2024, prompting both sides to consider acquiring the other’s share.

Boehly, who also co-owns Major League Baseball’s Los Angeles Dodgers, described his tenure as chair as “a privilege.” He added: “I’d like to thank many who helped secure a bright future for the club—including the Premier League, coaches and players, leadership and talented staff at Chelsea, and our loyal fan armies.”

He continued: “I’ve valued my partnership with Clearlake and the broader ownership group—the collective decisions and investments we’ve made to support the club’s short- and long-term success. I am confident Chelsea is well positioned to continue thriving under Clearlake’s leadership.”

Broader Asset Moves and Regulatory Scrutiny

Boehly and Walter have also sold their stake in French Ligue 1 side RC Strasbourg—a strategic partner of Chelsea.

Since the 2022 acquisition, Chelsea’s highest Premier League finish was fourth place in the 2024–25 season. That same campaign saw the club win both the UEFA Europa Conference League and the FIFA Club World Cup.

The club experienced notably high player turnover across the past four seasons, reflecting an initial strategy focused on signing young players to long-term contracts.

Chelsea finished last season 10th in the Premier League and appointed Xabi Alonso as head coach during the summer.

Eghbali and Feliciano thanked Boehly for “his time and contribution” as chair, stating he “will always be part of Chelsea’s history and family.” They affirmed Clearlake’s focus remains on “continuing to invest in the club’s infrastructure, sporting performance, player development, and achieving long-term success for Chelsea and its supporters.”

Ongoing plans—either to redevelop Stamford Bridge or relocate to a new stadium—have reportedly caused occasional tension between the Boehly-Walter camp and Clearlake.

The club confirmed in its official statement that “there will be no changes to day-to-day operations, leadership, or strategy” as a result of Clearlake assuming full control.

Walter, co-founder and CEO of global investment firm Guggenheim Partners—where Boehly began his finance career—sold his stake in the NBA’s Los Angeles Lakers last month for a record $12.5 billion (£9.23 billion), one year after acquiring a majority interest in the franchise.

Separately, U.S. federal prosecutors and the Securities and Exchange Commission are investigating entities affiliated with Walter’s business empire.