US businessmen Todd Boehly and Mark Walter are in discussions to sell their stakes in Chelsea Football Club to majority owner Clearlake Capital, according to a report from the Financial Times. The potential transaction could significantly alter the ownership structure of the Premier League club, which has been marked by strategic disagreements since the consortium acquired it in 2022.
Clearlake currently holds more than 60% of Chelsea but shares joint control and equal governance with Boehly, who serves as chairman. The talks are preliminary, and no agreement has been reached, with the possibility that they could end without a deal, the report noted.
Background of ownership tensions
The consortium led by Clearlake and Boehly purchased Chelsea from Roman Abramovich in 2022, following sanctions imposed on the Russian oligarch after Russia's invasion of Ukraine. Since then, differences over the club's strategic direction have created friction between the two sides. A sale of Boehly and Walter's interests could simplify the ownership structure and potentially give Clearlake greater control.
Representatives for Walter and Boehly did not immediately respond to requests for comment, while Chelsea and Clearlake declined to comment. The revived talks come as Walter reviews other assets in his business empire, with his family office having recently approached Clearlake about a potential sale of his Chelsea stake.
Regulatory scrutiny and asset sales
The discussions occur amid regulatory scrutiny of Walter's insurance businesses, which are being investigated by US prosecutors over undisclosed loans to related parties. The insurers are seeking to sell affiliated investments or reduce those loans, according to reports. Walter has also been divesting major sports assets; last week, he agreed to sell the Los Angeles Lakers for $12.5 billion to a group led by former Disney chief Bob Iger and venture capitalist Joshua Kushner.
The potential Chelsea transaction is part of a broader wave of deals involving major sports franchises, as investors increasingly view teams as investable assets. A consortium led by Amit Bhatia recently agreed to acquire about one-third of Liverpool FC at a valuation of roughly $7 billion, a group that includes Facebook co-founder Eduardo Saverin and a fund backed by Amazon founder Jeff Bezos. That deal was covered in our earlier report on Liverpool's minority sale.
Chelsea's performance under current ownership
Chelsea has seen mixed results under the Clearlake-Boehly ownership. The club won the FIFA Club World Cup and the UEFA Europa Conference League last year, but struggled in the Premier League, finishing 10th and failing to qualify for lucrative European competitions. The club also underwent a managerial change after Enzo Maresca left in January, with former Real Madrid manager Xabi Alonso appointed ahead of the new season. Maresca subsequently joined Manchester City following a settlement between the clubs, under which Chelsea will receive compensation.
A sale of Boehly and Walter's interests to Clearlake would mark a significant shift in the ownership of one of England's most valuable football clubs, though the talks remain preliminary. Investors and sports industry observers will be watching closely, as such a move could set a precedent for how ownership disputes in major sports franchises are resolved.
This article is for informational purposes only and does not constitute financial advice.
