LONDON, England — Chelsea Football Club has announced a major change in its ownership structure, with affiliates of Clearlake Capital Group acquiring the ownership interests held by Todd Boehly and Mark Walter to take full control of the Premier League club.
Boehly will step down as Chelsea chairman following the transaction, while Swiss billionaire Hansjörg Wyss will remain an important stakeholder and partner within the ownership group.
Chelsea said there will be no changes to the club’s day-to-day operations, leadership or strategy as a result of the ownership transition.
Clearlake Takes Full Control of Chelsea
Clearlake, which has been Chelsea’s majority owner since 2022, will acquire the remaining interests held by Boehly and Walter.
Reuters reported that the transaction is valued at approximately £950 million ($1.27 billion). The deal involves the acquisition of roughly a quarter of Chelsea’s shares held by the outgoing co-owners.
The transition marks the end of the ownership arrangement established in 2022, when Boehly and Clearlake joined forces with Walter and Wyss to acquire Chelsea from Roman Abramovich.
The consortium’s acquisition was completed in May 2022 after a sale process conducted under UK government sanctions and regulatory oversight.
Boehly Steps Down as Chairman
Boehly will leave his position as chairman after four years at the helm of Chelsea.
“It has been an honour to serve as Chairman of Chelsea Football Club,” Boehly said, thanking the Premier League, coaches, players, staff and supporters.
He said he valued his partnership with Clearlake and the wider ownership group and expressed confidence in Chelsea’s future under Clearlake’s leadership.
Boehly became chairman when the new ownership consortium completed its acquisition in 2022, with the original agreement providing for joint control between Boehly and Clearlake.
Clearlake Pledges Continued Investment
Clearlake co-founders Behdad Eghbali and José E. Feliciano thanked Boehly for his contribution and said the investment firm would continue with the club’s existing strategic direction.
“Clearlake has served as Chelsea’s majority owner since 2022, and as we move to full control our focus is to continue investing in the Club’s infrastructure, sporting performance, player development and delivering long-term success for Chelsea and the Club’s supporters,” they said.
Chelsea said substantial investment under the previous ownership structure had gone into the men’s and women’s senior teams, youth squads, the Cobham training centre, medical and player-support facilities, the Academy and the club’s sporting and business leadership.
No Immediate Changes at Chelsea
Despite the change in ownership, Chelsea said supporters should not expect immediate changes to how the club is run.
The club confirmed that its day-to-day operations, leadership and strategy will remain unchanged.
Clearlake intends to continue building on the strategic direction developed during the previous four years, according to the club.
The ownership transition therefore changes control at shareholder level without announcing a corresponding overhaul of Chelsea’s existing management structure.
Chelsea’s Ownership Since 2022
The new ownership era began in 2022 following Abramovich’s sale of Chelsea to a consortium led by Boehly and Clearlake.
The original consortium included Boehly, Clearlake, Walter and Wyss. Boehly and Clearlake were appointed as co-controlling owners, while Boehly became chairman of the club.
Chelsea’s acquisition followed an extraordinary sale process after Abramovich was sanctioned by the UK Government in March 2022. The club said the sanctions created unprecedented challenges during the transaction, which was completed in less than three months.
Clearlake’s move to full control now reshapes that ownership structure while retaining Wyss as a stakeholder.
Advisers Appointed for the Transaction
Chelsea said Evercore is acting as lead financial adviser on the transaction, with its team led by Simon Robey.
The Raine Group, BDT&MSD Partners and BofA Securities are advising Clearlake, while Sidley Austin is acting as legal adviser to Clearlake and the club.
Goldman Sachs and Latham & Watkins are advising the sellers, with Winston Taylor providing additional advice to Walter. Macfarlanes is advising Wyss.
