Fresh ownership turbulence has emerged at English Premier League giant Chelsea, with senior club figures Todd Boehly and Mark Walter confirming they are exploring the sale of their combined minority stake to majority owner Clearlake Capital, multiple industry sources reported Monday.
The discussions mark the latest chapter in a tense two-year relationship between the co-investors that purchased the west London club from Russian oligarch Roman Abramovich in a £2.5 billion ($3.3 billion) deal in May 2022. At the time of the acquisition, California-based private equity firm Clearlake Capital took a controlling 62% stake in the club, while Boehly — who serves as Chelsea’s chairman — fellow American billionaire Walter, and Swiss billionaire Hansjorg Wyss held the remaining 38% through their joint holding vehicle Blueco Holdings.
According to insiders familiar with the negotiations, Boehly has grown increasingly frustrated with the club’s strategic direction in recent months. His dissatisfaction centers on three key areas: transfer market recruitment strategy, managerial decision-making, and long-term plans for a proposed new stadium to replace the club’s iconic 118-year-old Stamford Bridge home.
This is not the first time tensions between the ownership factions have spilled into public view. Reports have circulated multiple times over the past 24 months that both sides have attempted to buy out the other’s stake, as disagreements over the club’s trajectory persisted.
If the transaction moves forward, Boehly and Walter have valued their combined holding at a total club valuation of £5 billion, nearly double the price the group paid just two years ago. The pair have a long-standing professional and personal relationship, having collaborated on major sports investments including Major League Baseball’s Los Angeles Dodgers and the Women’s National Basketball Association’s LA Sparks.
The ownership shakeup comes as Chelsea enters a critical new season. The club turned in a dismal performance in 2023-24, finishing 10th in the Premier League and missing out on qualification for all European competitions. In response, the club appointed former Liverpool and Real Madrid midfielder Xabi Alonso as its new manager, tasked with turning around the side’s on-pitch fortunes. Chelsea is set to kick off its 2025-26 Premier League campaign with an away fixture against west London rivals Fulham on August 24.