Todd Boehly steps down as chairman as Clearlake Capital agrees to acquire his and Mark Walter’s ownership interests, with no immediate changes to the club’s day-to-day operations

Chelsea Football Club has announced a major change to its ownership structure, with affiliates of Clearlake Capital Group, L.P. set to acquire the ownership interests held by Todd Boehly and Mark Walter.

The transaction will give Clearlake full control of the Premier League club, while Swiss businessman Hansjörg Wyss will remain an important stakeholder and partner within the ownership group.

The announcement marks a significant change from the ownership structure established in 2022, when Boehly and Clearlake joined forces to complete the acquisition of Chelsea following a period of uncertainty surrounding the club.

Boehly will leave his position as chairman as part of the transition, bringing an end to his formal leadership role at Stamford Bridge.

Despite the change in ownership control, Chelsea said there will be no changes to the club’s day-to-day operations, leadership or strategic direction.

The club said the ownership group has, since the 2022 takeover, worked toward creating a sustainable foundation for long-term sporting success.

During that period, substantial investment was made in Chelsea’s men's and women's senior teams, youth squads, training facilities at Cobham, medical and player-support services, Academy development and pathways, as well as the club's sporting and business leadership.

Boehly, who played a prominent role in the club's leadership following the takeover, said he was proud to have served as chairman and expressed confidence in Chelsea's future under Clearlake's full control.

“It has been an honour to serve as Chairman of Chelsea Football Club,” Boehly said.

He thanked the Premier League, Chelsea's coaches and players, staff, leadership team and supporters, as well as those who helped secure what he described as a bright future for the club.

Boehly also acknowledged his partnership with Clearlake and the wider ownership group, highlighting the investments and decisions made during their joint ownership.

“I have valued my partnership with Clearlake and the wider ownership group, and the collective decisions and investment we have made to support the immediate and long-term success of the Club,” he said.

“I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.”

Clearlake co-founders Behdad Eghbali and José E. Feliciano thanked Boehly for his contribution and described him as an important partner during their ownership of the club.

“Todd has been an important partner throughout our ownership of Chelsea, and we thank him for his time and contribution as Chairman,” they said.

“He will always be a part of the Chelsea story and family.”

Clearlake said it had been Chelsea's majority owner since 2022 and would now focus on continuing investment in the club's infrastructure, sporting performance and player development.

The investment firm also said its objective remained achieving long-term success for Chelsea and its supporters.

The ownership transition comes after four years of significant investment and sporting activity at Chelsea. The club has undergone extensive changes to its playing squad, coaching structure, Academy development and football infrastructure since the 2022 takeover.

With Clearlake moving from majority ownership to full control, the club's existing strategic direction is expected to continue, according to the announcement.

The transaction is being advised by several major financial and legal firms.

Evercore is serving as lead financial adviser on the transaction, with its team led by Simon Robey. The Raine Group, BDT&MSD Partners and BofA Securities are advising Clearlake.

Sidley Austin LLP is acting as legal adviser to Clearlake and Chelsea.

Goldman Sachs & Co. LLC is serving as financial adviser to the sellers, while Latham & Watkins LLP is the lead legal adviser. Winston Taylor LLP is providing additional advice to Mark Walter, while Macfarlanes LLP is advising Hansjörg Wyss.

Chelsea said the ownership transition would not affect the club's immediate operations, leadership or strategy, meaning supporters should not expect an immediate change to the way the club is run on a daily basis.

The completion of the transaction will nevertheless usher in a new phase for Chelsea, with Clearlake becoming the sole controlling owner following the departure of Boehly and the transfer of Walter's ownership interest.