Clearlake Buys Out Boehly and Walter Stakes to Take Full Control of Chelsea

Mark Walter, owner of the Los Angeles Dodgers, will sell his minority stake in Chelsea Football Club to Clearlake Capital. In a statement on Wednesday evening, Chelsea said Clearlake, which already holds 61.5% of the club, will also acquire the stake held by Chelsea chairman Todd Boehly, giving it full control of the club. Boehly and Walter each held about 12.8% of the club. The transaction values Chelsea at 5 billion pounds, with the two receiving a combined 950 million pounds, or about 1.27 billion US dollars. Boehly will step down as club chairman. Swiss billionaire Hansjorg Wyss will remain a significant shareholder and partner in the ownership group.

The sale follows the announcement more than a month ago that Walter had agreed to sell his controlling stake in the Los Angeles Lakers to Josh Kushner and Bob Iger. The Lakers deal renewed attention on a federal criminal investigation and a US Securities and Exchange Commission inquiry into whether roughly 21 billion US dollars of investments at two insurers controlled by Walter, Delaware Life Insurance Company and Clear Spring Life and Annuity, were properly disclosed as related-party or affiliated transactions. In a statement dated August 26, 2026, Walter's holding company TWG Global said that, despite related reports, neither the company nor its subsidiaries had committed fraud. The company said TWG is committed to cooperating with the US Department of Justice and the SEC to resolve their inquiries.

Clearlake Capital co-founders Behdad Eghbali and Jose Feliciano said in the statement that Todd had been an important partner during his time in Chelsea's ownership. They said Clearlake has been the club's majority shareholder since 2022, and that as the firm moves toward full control, its focus is on continuing to invest in the club's infrastructure, sporting performance and player development, and on delivering long-term success for Chelsea and its supporters. Chelsea said the club's day-to-day operations, leadership and strategy will not change.