Todd Boehly and Mark Walter are reportedly in talks to sell their Chelsea stakes back to Clearlake Capital, with The Financial Times saying each man holds 12.8 per cent. Clearlake already owns 61.5 per cent of Chelsea, so any deal would push Behdad Eghbali's group even closer to full control.
Clearlake's hold on Chelsea
The reporting matters because the ownership structure was already heavily tilted. Boehly, Walter and Hansjorg Wyss share the remaining 38.5 per cent, while Clearlake sits on the majority block.
The club was bought in a £2.5 billion deal and is now reported to be valued at more than £5 billion. That jump has come during a period when Chelsea have spent nearly £1.5 billion on transfer fees since May 2022, with over £300 million laid out on new recruits this summer and £143 million recouped through sales.
The tension around the project
There is still a split reading of the situation. Some reports frame the talks as part of a long-running ownership friction that first surfaced in 2024 and has been discussed on and off for two years. Club insiders cited by The Independent have also denied there is a rift, which keeps the story in the realm of negotiation rather than open fallout.
Boehly is due to step down as Chelsea chairman at the end of the 2026-27 season, after the end of his five-year term. Chelsea declined to comment on the reported stake talks, leaving the next move with the owners rather than the club.
For Chelsea, the key point is simpler than the boardroom noise. Clearlake already controls the majority, and these discussions would give it a clearer grip on the club before Boehly's scheduled chairman exit.
Written by Jack Mercer with AI-assisted research, cross-checked against 2 outlets. How we work →
