Former Chelsea owners Todd Boehly and Mark Walter are selling their minority holdings to Clearlake Capital Group, allowing the investment firm to take full control of the Premier League club.
Chelsea confirmed the ownership change on Wednesday. Clearlake will buy the stakes held by Boehly and Walter, which amount to about a quarter of the club.
The deal is reportedly worth around £950 million ($1.27 billion). It will also see Boehly step down as Chelsea chairman.
Clearlake to maintain club strategy
Clearlake was co-founded by Behdad Eghbali and Jose E. Feliciano. The firm has teamed up with Swiss billionaire Hansjorg Wyss, another minority owner, to complete the purchase.
Chelsea said the change in ownership would not affect the club’s daily operations or strategy.
“Clearlake intends to continue building on the strategic course the club is now on and realising the ambition that the ownership group has developed together,” Chelsea said in a statement.
“There will be no changes to the day-to-day operations, leadership or strategy at the club.”
Boehly, Walter, Wyss and Clearlake bought Chelsea in May 2022. They acquired the club from former owner Roman Abramovich in a deal British media reported was worth £4.25 billion.
Boehly, who also co-owns the Los Angeles Dodgers baseball team, said it had been an honour to lead Chelsea as chairman.
“I have valued my partnership with Clearlake and the wider ownership group, and the collective decisions and investment we have made to support the immediate and long-term success of the Club,” he said in the statement.
“I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.”
Chelsea’s Premier League campaign
Chelsea are currently sixth in the Premier League. The club have recorded two wins, one draw and one defeat at the start of the new season.
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