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Todd Boehly and Mark Walter are reportedly in talks to sell their stakes in Chelsea to majority owner Clearlake Capital.
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The discussions could bring an end to years of tension within the club’s ownership group.
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Chelsea’s American-led ownership has delivered major silverware but struggled to produce consistent Premier League success.
August 17, (THEWILL) — Chelsea’s ownership structure could be heading for another major change after Todd Boehly and Mark Walter reportedly opened talks over selling their stakes in the club to Clearlake Capital.
The negotiations could help resolve a long-running power struggle within Chelsea’s ownership group, which has been divided over the direction and strategy of the Premier League club since the consortium completed its takeover in 2022.
Clearlake currently owns more than 60 percent of Chelsea, but despite holding the majority financial stake, it shares joint control and equal governance of the club with Boehly. Boehly remains Chelsea chairman, while Walter is another key figure on their side of the ownership consortium.
According to reports, the latest discussions are not guaranteed to result in a completed deal, but they represent a significant development after years of intermittent negotiations between the two sides. If an agreement is reached, Clearlake could gain greater control over the club and potentially bring an end to the tensions that have existed behind the scenes.
Chelsea were acquired for £2.5 billion in 2022 after former owner, Roman Abramovich, was forced to sell the club following sanctions imposed on him after Russia’s invasion of Ukraine. The new ownership group initially presented the takeover as the beginning of a new era, but its time in charge has been marked by huge spending, managerial changes and disagreements over the club’s long-term direction.
The latest talks also come at a complicated moment for Walter, whose wider business interests have faced increased scrutiny. US prosecutors are reportedly investigating insurance companies connected to his business empire after disclosures raised questions over loans made to related parties.
Walter has also recently been involved in another major sports transaction, agreeing to sell his stake in the Los Angeles Lakers in a deal that would see the NBA franchise change hands less than a year after he acquired the team.
For Chelsea, however, the focus remains on what any ownership change could mean for the club. Despite the uncertainty surrounding the boardroom, the Boehly-Clearlake era has already delivered major silverware. Chelsea won the FIFA Club World Cup and UEFA Europa Conference League last season, giving the ownership group two international trophies.
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Their Premier League record has been far less impressive. Chelsea finished 10th last season and missed out on the lucrative European competitions that have become increasingly important to the club’s finances and sporting ambitions.
The club have also gone through another managerial transition, appointing former Real Madrid boss Xabi Alonso ahead of the new campaign after Enzo Maresca’s departure. Maresca subsequently joined Manchester City following a settlement between the two clubs.
That backdrop makes the ownership discussions particularly significant. Chelsea are attempting to build stability on the pitch while questions continue to surround the structure and direction of the club off it.
Should Boehly and Walter eventually sell their stakes to Clearlake, it could fundamentally alter the balance of power at Stamford Bridge and give the majority owner a clearer path to determine the club’s future.
For now, however, the negotiations remain ongoing, and there is no guarantee that a deal will be completed. What is clear is that Chelsea’s complicated ownership story has entered another potentially decisive chapter.
Olumide Atiba is a sports journalist with THEWILL, known for his keen news sense and compelling storytelling. He has built a reputation for turning leads into clear, well-structured reports that resonate with readers, with a strong focus on football coverage
