Clearlake Takes Full Control of Chelsea — SkimNews
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- Clearlake Capital, led by Behdad Eghbali and Jose E. Feliciano, will gain full control of Chelsea after acquiring the 12.83% stakes held by each of Boehly and Walter; Swiss philanthropist Hansjörg Wyss retains his 12.83% stake.
- Walter and Boehly will receive £950 million ($1.3 billion) for their combined stake in a deal valuing Chelsea at £5 billion ($6.7 billion) including debt.
- Boehly is stepping down as chairman, three years after the consortium bought Chelsea for £2.5 billion ($3.3 billion) from Roman Abramovich, who was sanctioned over alleged ties to Vladimir Putin following Russia's invasion of Ukraine.
- The 2022 consortium purchase included a further £1.75 billion ($2.3 billion) committed to investment in the club beyond the purchase price.
- Walter completed the sudden sale of the Los Angeles Lakers last month at a $12.5 billion valuation, is under federal investigation relating to insurance companies he owns, and remains owner of the Los Angeles Dodgers.
- ESPN reported that the relationship between Clearlake and Boehly deteriorated over recent years, with each side looking to buy the other out in 2024.
- Chelsea, currently sixth in the Premier League under new manager Xabi Alonso, said there will be no changes to day-to-day operations, leadership or strategy.
Why it matters: Clearlake's consolidation gives Eghbali and Feliciano unchecked authority over a £5 billion club that has churned through managers since the 2022 takeover, with Boehly — who once led the consortium — walking away with £950 million and no chairmanship. Walter's parallel exit comes as he faces a federal probe over his insurance businesses and just sold the Lakers at a $12.5 billion valuation.
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