Clearlake Capital buys out Boehly, Walter and Wyss to take full control of Chelsea

Clearlake Capital has taken full control of Chelsea after completing the purchase of the stakes held by Todd Boehly, Mark Walter and Hansjorg Wyss. The deal ends Boehly's spell as chairman, a role he had occupied since the consortium bought the club for £2.3bn in 2022. The US investment firm led by Behdad Eghbali and Jose E. Feliciano now owns the Blues outright.

What the Chelsea share sale means for Clearlake

Boehly, Walter and Wyss each controlled 12.8% of the club, while Clearlake previously held 61.5%. Buying those three stakes completes the ownership structure and leaves the fund as the club's sole shareholder. The transaction had been in the works for months, gaining momentum after it emerged in August that Boehly and Walter were exploring a sale of their shares.

Todd Boehly steps down as chairman: his farewell message

The American businessman has confirmed his departure from the chairman role and described his time representing Chelsea as an honour. In his farewell, he thanked the Premier League, the coaches, the players and the supporters, while highlighting the partnership built with Clearlake around investment decisions aimed at securing the club's short and long-term future.

I am confident that Chelsea is well positioned for continued success under Clearlake's leadership.

The relationship between Boehly and Clearlake became strained in 2024

Boehly's exit did not come out of nowhere. Multiple sources trace the start of negotiations to a rift inside the ownership group that became apparent in 2024. That split pushed both sides to explore buying each other out, and it is Clearlake who has now completed the move to take full control.

Stadium plans were one of the sticking points. Chelsea have long weighed up two options: redeveloping Stamford Bridge or building a new ground. Those discussions created tension at times between Boehly's camp and the investment fund.

What Clearlake Capital says about Chelsea's future

Eghbali and Feliciano thanked Boehly for his time and contribution as chairman, saying he will always be part of the Chelsea story and family. On the road ahead, they stressed that the focus remains on continued investment in infrastructure, sporting performance and player development to deliver long-term success.

The club has issued a statement making clear that Clearlake assuming full control will bring no changes to day-to-day operations, leadership or strategy. The message aims to project stability during a period of ownership change.

Chelsea since the 2022 takeover: results and the youth-first approach

Since the consortium led by Boehly and Clearlake replaced Roman Abramovich, Chelsea have experienced an up-and-down spell. Their best Premier League finish was fourth in 2024-25, a season in which they also won the Uefa Conference League and the Fifa Club World Cup.

Player turnover has been one of the defining features of this era. The initial strategy focused on signing young talent to long-term contracts, a model that has generated debate among supporters. Last season ended with a 10th-place Premier League finish, and the club turned to Xabi Alonso as manager in the summer.

Mark Walter: record Lakers sale and US investigations

Walter's departure from Chelsea coincides with other significant moves in his business career. The co-owner and chief executive of Guggenheim Partners sold the Los Angeles Lakers last month for $12.5bn, a record figure for an NBA franchise. The deal came just a year after he bought a majority stake in the team.

Meanwhile, US federal prosecutors and the Securities and Exchange Commission are investigating companies within Walter's business empire. No link has been established between those probes and his exit from Chelsea's ownership.