Boehly and Walter Weigh Chelsea Share Sales to Clearlake

Todd Boehly and Mark Walter are considering selling their Chelsea shareholdings to Clearlake Capital, according to reporting by The Guardian. Any transaction remains under discussion rather than completed, but a sale by both men would substantially consolidate the ownership of the Premier League club under its existing majority investor.

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Clearlake already owns more than 60% of Chelsea, with its investment managed by Behdad Eghbali and Jose E Feliciano. Operational control has nevertheless been shared with the consortium led by Boehly since the club was bought from Roman Abramovich four years ago. Boehly, Walter and Hansjorg Wyss each hold about 13%, while the three together control 38% through Blueco 22 Holdings.

The Guardian reports that talks have resumed in recent weeks after nearly two years of tension between the ownership groups. Their differences have included strategy and the future of Chelsea's stadium. A prospective deal would value the club at more than £5bn, although it remains unclear whether Wyss would also be willing to sell his stake.

The structure agreed during the £2.5bn purchase from Abramovich restricts the shareholders from selling to an outside party without their partners' consent. That provision makes an external deal unlikely and places Clearlake in a strong position if Boehly and Walter decide to exit. The report says the pair would seek a significant premium on the £325m they paid for their shares.

Walter's position is linked in the report to efforts to raise funds following a US federal investigation involving alleged undisclosed loans to insurers. The Guardian says he was recently involved in the $12.5bn sale of the Los Angeles Lakers to Josh Kushner and Bob Iger, one year after buying the NBA franchise for $10bn. Walter and Boehly are longstanding business partners whose other investments have included the Los Angeles Dodgers and Los Angeles Sparks.

If both Chelsea stakes were sold, Clearlake would hold more than 86% of the shares and gain effective control, including over the stadium project it wants to pursue at Stamford Bridge. Boehly, Chelsea's public face after the 2022 takeover and interim sporting director during that first summer, later stepped back as Eghbali assumed more operational influence. Representatives of Clearlake, Boehly and Chelsea were approached for comment, The Guardian reported.