Chelsea Football Club has announced that Clearlake Capital has taken full control of the Premier League side, ending Todd Boehly’s chairmanship. The deal, revealed late Wednesday, sees Boehly and director Mark Walter sell their stakes to Clearlake, whose co-founders Behdad Eghbali and Jose E Feliciano become the sole majority owners.
The US billionaires Boehly and Walter had partnered with Clearlake to buy the London club from Roman Abramovich in May 2022, in a sale mandated by the British government. Prior to the new agreement, Clearlake owned 61.5% of the club, with Boehly, Walter, and Swiss billionaire Hansjorg Wyss holding the remaining shares. Chelsea confirmed that Wyss will “remain an important stakeholder and partner in the ownership group.”
According to the Financial Times, Boehly and Walter are set to receive £950 million ($1.27bn) for their combined stakes, valuing the club at about £5 billion including debt. The pair are also co-owners of the Los Angeles Dodgers baseball team, and Walter recently sold the Los Angeles Lakers basketball franchise for $12.5bn.
Chelsea boss Xabi Alonso, who started on July 1, called the change “an important day for the club.” “Thanks to the former owners for what they’ve done. I was not here, but I know they played an important role,” he said on the eve of Chelsea’s Premier League match at Brentford on Friday. “And now that Behdad is taking more control, almost full control, I think it’s good that the main one is clear. I have very good relations with Behdad. He was the one that came to Madrid to explain to me the project, to convince me and we are working well together.” Alonso added: “We know where we want to be, we know that everything takes time, but the ambition for that is very clear.”
Since the 2022 takeover, Chelsea’s highest Premier League finish is fourth in 2024/25, when the club won the UEFA Conference League and FIFA Club World Cup. Former Real Madrid and Bayer Leverkusen coach Alonso has a brief to revitalise the underachieving squad, which finished a dismal 10th in the Premier League last season. The Blues have made a mixed start to the new campaign, taking seven points from their four Premier League games to sit sixth in the table.
Boehly and Walter have also sold their stakes in Chelsea’s partner club, French Ligue 1 side Strasbourg, giving full control to Clearlake. The ownership change raises questions about the club’s future strategy, but Chelsea’s hierarchy insists it aims to compete at the highest level and build sustained success.
Source: www.aljazeera.com