Chelsea near Clearlake takeover as Todd Boehly and Mark Walter edge towards exit

Chelsea’s majority owners, Clearlake Capital, are closing in on a deal to buy out co-owners Todd Boehly and Mark Walter.

The agreement is not yet finalised, but if it goes through, Boehly and Walter are expected to make a profit on their initial investment, while Chelsea’s valuation will be around £5billion.

Talks over a potential sale have been in the offing for the last two years, but have picked up pace in recent months, with Walter needing to raise funds to pay off insurers over alleged tax fraud.

Walter is the subject of a federal fraud and related-party transaction investigation involving his insurance companies. His holding company, TWG Global, has strongly denied any wrongdoing.

Walter, Boehly and Swiss billionaire Hansjorg Wyss each brought 12.8 per cent of Chelsea as part of the deal that saw Clearlake Capital buy the club from Roman Abramovich in 2022.

Co-owners: Todd Boehly and Mark Walter

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Boehly, in particular, took a hands-on approach in the first season of Clearlake’s ownership and was widely seen as the public face of the investment alongside Behdad Eghbali, who manages Clearlake’s investments alongside Jose E Feliciano.

In recent years, though, Boehly has taken more of a backseat, and he is now expected to sell his stake and depart the club along with longtime confidant Walter.

In a statement to Bloomberg, a spokesperson for Walter confirmed that an agreement was close regarding the sale of his stake. Boehly is expected to follow suit, while Wyss’ position is unclear.

“This potential transaction values Mark Walter’s stake in Chelsea Football Club at a premium to his initial investment and is another successful sports investment for him,” a spokesperson for Walter said.

“After this exit, Mr Walter intends to make future sports-related investments.

“Walter did not initiate the proposed transaction to sell his interest, which has been in the works for quite some time.”