Todd Boehly, the Chelsea chairman, and Mark Walter, the director, have parted with their stakes in the club. Hansjorg Wyss, a Swiss billionaire, has also sold his share. The buyer is Clearlake Capital, which now holds the club in full, owning it outright.
Each of Boehly, Walter and Wyss held a 12.8% stake. Clearlake previously owned 61.5% of Chelsea. Boehly will step down as chairman, a role he has held since 2022.
In March 2022, the group purchased the club for £2.3bn from Roman Abramovich. The UK government sanctioned Abramovich over alleged connections to Russian president Vladimir Putin; he has denied those claims.
The Sale That Was Coming
In August, BBC Sport reported that Boehly and Walter were exploring selling their stakes. Talks began within Chelsea’s ownership group following a rift that first became apparent in 2024, according to multiple sources.
Boehly said it had been an “honour” to serve as Chelsea chairman. He thanked “the many who helped secure a bright future for the club, including the English Premier League, the coaches and players, the talented leadership and staff at Chelsea, and the legions of dedicated fans.”
The partnership with Clearlake and the broader ownership group was something he said he held in high regard, and he expressed confidence that Chelsea was well placed to keep performing well under Clearlake’s guidance.
What The Stakes Actually Mean
Clearlake’s co-founders are Behdad Eghbali and Jose E. Feliciano. Eghbali and Feliciano thanked Boehly for his “time and contribution” as chairman, saying he will “always be a part of the Chelsea story and family”.
Their stated aim is to concentrate on “continue investing in the club’s infrastructure, sporting performance, player development and delivering long-term success for Chelsea and the club’s supporters”.
Walter runs Guggenheim Partners as its co-owner and chief executive. The firm operates on a global scale within the finance industry, and Boehly got his start there. Just last month, Walter sold the Los Angeles Lakers for a record £9.23bn, which works out to roughly $12.5bn.
Federal prosecutors and the Securities and Exchange Commission are looking into companies tied to Walter’s business empire.
The On-Field Record So Far
After the acquisition took place in 2022, Chelsea’s best Premier League position has been fourth, achieved in the 2024-25 campaign. That same season, the club claimed both the Uefa Conference League and the Fifa Club World Cup.
Last season Chelsea ended up in position 10, and in the summer Xabi Alonso took over as the club’s manager.
Stamford Bridge Or New Ground
Chelsea have ongoing plans either to redevelop Stamford Bridge or move to a new stadium. A club statement said there will be “no changes to the day-to-day operations, leadership or strategy at the club” as a result of Clearlake assuming full control.
Who Is Protecting What
After the division emerged in 2024, negotiations over its terms followed.
The Bottom Line
Clearlake now fully controls Chelsea. The man who bought the club with a group in 2022, and who has served as chairman ever since, is giving up that position. The club’s spending has grown far beyond what its results on the field have shown so far.
Chelsea have yet to decide whether to push ahead with the Stamford Bridge redevelopment or to pursue a new-stadium plan instead. The club has offered no indication of which route it intends to follow.
KEY FACTS BOX:
– Boehly, Walter and Wyss each sold a 12.8% stake
– Clearlake previously owned 61.5% of Chelsea
– Club bought for £2.3bn from Abramovich in March 2022
– Chelsea finished 10th in the Premier League last season
– Walter sold the Lakers for $12.5bn (£9.23bn) last month
– US federal prosecutors and the SEC are investigating Walter’s business empire
Who is protecting what
The practical effect of the sale is simple: Clearlake now controls Chelsea entirely, and the men who bought the club with a group in 2022 can walk away from it. The club’s spending has grown far beyond what its results on the field have shown so far, and Boehly and Walter stepping down as chairman and director comes at a moment when Chelsea have yet to match that spending with titles.
The paper suspects the timing of the announcement, coming just days before the transfer window closes, is meant to give the impression that the club’s direction remains settled — that nothing changes at the top despite the shift in ownership. Clearlake’s stated aim is to concentrate on “continue investing in the club’s infrastructure, sporting performance, player development and delivering long-term success for Chelsea and the club’s supporters,” but the question of whether Chelsea stay at Stamford Bridge or move to a new stadium remains unanswered.
Ask yourself why the announcement came now. Ask yourself what each side protects by describing the sale as a smooth transition.
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