Mark Walter and Todd Boehly selling stakes in Chelsea Football Club to Clearlake Capital

Todd Boehly and Mark Walter have sold their stakes in Chelsea Football Club to Clearlake Capital. Boehly, who served as chairman, and Walter, along with Swiss billionaire Hansjorg Wyss, each held a 12.8% stake in the club. Clearlake Capital, led by co-founders Behdad Eghbali and Jose E. Feliciano, previously owned 61.5% of Chelsea and now has full control.

The deal, according to Free Malaysia Today, is worth around £950 million (US$1.27 billion). Boehly, who is also a co-owner of the Los Angeles Dodgers baseball team, expressed his gratitude to those who helped secure a bright future for the club, including the English Premier League, coaches, players, leadership, staff, and fans. He valued his partnership with Clearlake and the wider ownership group.

Boehly will step down as chairman following the sale. According to BBC Sport, the consortium bought Chelsea in 2022 for £2.3bn from Roman Abramovich. There will be no changes to the day-to-day operations, leadership, or strategy at the club, Chelsea said in a statement. Meanwhile, two of Mark Walter's insurance companies are facing federal criminal and civil investigations into the accounting of roughly $21 billion in financial transactions, according to CNBC World.

Brief written by urgent.news from CNBC World, Yahoo Sports, Free Malaysia Today, BBC Sport Football, BBC Sport — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.