According to multiple media outlets including The Athletic, The Guardian, and Bloomberg, Chelsea shareholders Todd Boehly and Mark Walter are close to selling their stake to Clearlake Capital.

Reports indicate that Chelsea shareholder Mark Walter is looking to profit from selling his 12.8% stake in Chelsea to majority shareholder Clearlake Capital. Boehly, who also holds 12.8% of the club as a co-owner, is also in negotiations with Clearlake Capital regarding the sale of his stake.

In June 2022, the two of them, along with Hansjörg Wyss (12.8% stake) and Clearlake Capital (61.5% stake), formed a consortium to acquire Chelsea from sanctioned Roman Abramovich for £2.5 billion.

Walter's spokesperson stated that the billionaire will continue investing in sports teams following the completion of this deal.

As first reported by Bloomberg, Walter's spokesperson said in a statement to The Athletic: "This potential transaction values Mark Walter's stake in Chelsea Football Club above his initial investment, representing another successful sports investment for him."

"Following this exit, Mr. Walter is planning further sports-related investments, building on the strong track record of himself and TWG Global in this space. As a minority shareholder, Mr. Walter was not the initiator of this proposed transaction (the sale of his stake), which has been in the works for some time."

Sources with knowledge of the matter, speaking on condition of anonymity to protect their relationships, revealed that a deal with Clearlake Capital to acquire Walter's and Boehly's stakes is nearing completion.

Last month, Walter sold his majority stake in the Los Angeles Lakers to Josh Kushner and Bob Iger at a record valuation of $12.5 billion, just 14 months after acquiring the NBA team for $10 billion. His decision comes amid a Department of Justice investigation into his business transactions – federal investigators are examining an insurance company owned by Walter.

Walter and Boehly have long been business partners and co-owners of the Los Angeles Dodgers of Major League Baseball (MLB) and the Los Angeles Sparks of the WNBA.

The prospect of an internal consortium takeover has existed since relations between Boehly and Clearlake Capital soured two years ago. Sources close to the American private equity firm have consistently insisted that they have no intention of selling their stake to Boehly or Walter and prefer to increase their holding rather than exit.

Chelsea Football Club and Boehly's representatives have been approached for comment.

What is Walter and Boehly's stake worth?

Beauty is in the eye of the beholder, and that's never been more apparent than with Chelsea – since the £2.5 billion acquisition four years ago, the club has undergone massive investment, much of it in player transfers.

According to The Athletic's earlier reporting, total financing for the BlueCo project had reached £4.2 billion by the end of June 2025, with additional funds injected since then. Of that June 2025 figure, £2.9 billion was equity investment and £1.3 billion was external debt, including a pay-in-kind loan accruing interest at an alarming rate.

Recently, several industry valuation firms have valued Chelsea at just over £3 billion, a figure only slightly higher than the owners' current equity investment to date.

Naturally, sellers have an incentive to drive the price up, but paradoxically, Clearlake Capital may also be reluctant to acquire a substantial additional stake at too low a price. Doing so would signal to the market that, despite Chelsea competing in the Premier League for over four years, the club's value is significantly lower than current owners anticipated. Clearlake Capital currently has no intention to sell, but Chelsea's valuation needs to rise as soon as possible.

What is clear is that Chelsea's valuation today falls far short of what Clearlake Capital and other potential buyers anticipated when the club was sold in spring 2022. At that time, Joe Ravitch, one of the founders of Raine Group, the investment bank that oversaw the sale, said: "My guess is that in five years Chelsea and all the top Premier League clubs will be worth over $10 billion (then £7.7 billion, now £7.4 billion)."

Unless oil suddenly gushes from the center circle at Stamford Bridge in the next 12 months, this prediction will fall well short of reality.

Diterjemahkan oleh AI.

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