Boehly, Walter in talks to sell Chelsea stakes to Clearlake Capital

Todd Boehly and Mark Walter are in discussions to sell their minority stakes in Chelsea FC to majority owner Clearlake Capital, according to the Financial Times, in a move that could resolve years of internal friction within the club's ownership group and value Chelsea at more than £5 billion.telegraph+1

The Deal Under Discussion

Boehly, Chelsea's chairman and co-controlling owner, and Walter each hold approximately 12.8% of BlueCo, the consortium that acquired the club for £2.5 billion in 2022. If Clearlake, which already controls roughly 61.5% of the club, purchases both stakes, it would own more than 87% of Chelsea.chelseafconline+2

Sources familiar with the situation cautioned that no agreement has been reached and there is no guarantee a deal will be completed. Bloomberg reported separately that Walter's family office reached out to Clearlake about a potential sale "in recent days." Representatives for Boehly, Walter, and Clearlake have all declined to comment.telegraph+3

Governance Tensions and Regulatory Pressure

Since the 2022 takeover, Boehly and Clearlake co-founder Behdad Eghbali have clashed repeatedly over strategic decisions at the club, despite sharing joint control and equal governance rights. The Financial Times reported that a sale could help resolve the long-running discord.thesun+2

The talks come as Walter faces mounting legal and financial pressure. His insurers, Delaware Life and Clear Spring Life & Annuity, disclosed in regulatory filings that they received grand jury subpoenas in February 2026 from the US Attorney's Office for the Southern District of New York, with a parallel SEC investigation into whether approximately $21 billion in related-party loans were improperly disclosed. No charges have been filed.theesk

Walter recently agreed to sell his stake in the Los Angeles Lakers at a record $12.5 billion valuation to a group led by former Disney The Walt Disney Company ↘ 3.14% chief Bob Iger and venture capitalist Josh Kushner.tribuna+1

What It Means for Chelsea

A full exit by Boehly and Walter would mark the end of their direct involvement in a club that has endured turbulence under BlueCo's stewardship, cycling through five permanent managers since 2022 and finishing 10th in the Premier League last season. The Premier League's reformed ownership test now explicitly captures persons under investigation for disqualifying conduct, adding regulatory urgency to Walter's reported desire to leave the shareholder register.theesk+1

Hansjörg Wyss, the fourth minority shareholder with just under 13%, has not been reported as part of the current discussions.theesk