Chelsea get new owners as Clearlake takes full control

Chelsea have a new ownership structure after affiliates of Clearlake Capital Group acquired the ownership interests of Todd Boehly and Mark Walter, giving the US investment firm full control of the Premier League club.

The club announced the change on Thursday, confirming that Mr Boehly has stepped down as chairman, while Swiss businessman Hansjörg Wyss will remain an important stakeholder in the ownership group.

Clearlake said it intends to continue with the strategic direction established since the consortium acquired Chelsea in 2022.

“There will be no changes to the day-to-day operations, leadership or strategy at the Club,” Chelsea said in its statement.

Boehly, who had served as chairman since the takeover, thanked the club’s staff, players, coaches, supporters and his fellow owners, saying he was confident Chelsea were “well positioned for continued success under Clearlake’s leadership.”

Clearlake co-founders Behdad Eghbali and José E. Feliciano described Boehly as an important partner and said the firm would continue investing in the club’s infrastructure, sporting performance and player development.

The latest transaction marks a significant change from the ownership structure established in May 2022, when a consortium led by Boehly and Clearlake completed the purchase of Chelsea from Roman Abramovich.

The takeover followed a turbulent period for the club after the UK government sanctioned Abramovich in March 2022 following Russia’s invasion of Ukraine. The Premier League subsequently approved the Boehly-Clearlake consortium’s proposed takeover, subject to the necessary government approvals.

The consortium completed the acquisition on 30 May 2022. Under the original arrangement, Boehly and Clearlake shared control, with Mark Walter and Wyss also part of the ownership group.

The original deal involved £2.5 billion for the club’s shares, with a further £1.75 billion commitment for investment in areas including Stamford Bridge, the Academy, the women’s team, Kingsmeadow and the Chelsea Foundation.

Since the takeover, the ownership group has overseen substantial spending on the men’s and women’s teams, youth development and club infrastructure.

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Chelsea said Clearlake’s move to full control would build on those investments, while maintaining the existing leadership and strategy.

The club did not disclose the financial terms of the latest transaction in its statement.

Evercore is advising on the transaction, while Clearlake is being advised by The Raine Group, BDT&MSD Partners and BofA Securities, among others.

The change brings an end to Boehly’s four-year tenure as Chelsea chairman but leaves Clearlake, which has been the club’s majority owner since 2022, in charge of the Premier League side.