Todd Boehly and Mark Walter in Talks to Sell Chelsea Stakes to Clearlake Capital

Chelsea co-owners Todd Boehly and Mark Walter have held talks over selling their stakes in the club to majority owners Clearlake Capital, potentially reshaping the ownership structure at Stamford Bridge.

Boehly and Walter could sell their shares

Clearlake Capital currently owns 61.5 per cent of Chelsea, while Boehly, Walter and Hansjorg Wyss each hold a 12.8 per cent stake. Discussions have reportedly taken place over Boehly and Walter selling their shares to Clearlake, although no agreement has been confirmed.

Clearlake, led by Behdad Eghbali and Jose Feliciano, already effectively controls the club despite Boehly remaining chairman. Boehly was the public face of the consortium that completed the £2.5bn takeover of Chelsea four years ago.

Any deal would represent a significant change in the balance of power behind the scenes, particularly given the tensions that have emerged between the different ownership groups since the takeover.

Tensions have existed since the takeover

The relationship between Boehly and Clearlake has reportedly been uneasy for some time. In 2024, disagreements over the running of the club became increasingly apparent, including differences over the future of then-head coach Mauricio Pochettino.

Sky Sports News previously reported that Boehly had been unhappy with aspects of the club's management and did not want Pochettino to leave in May 2024. Clearlake was understood to have taken a different position.

Boehly himself acknowledged in March 2025 that the owners could eventually go their separate ways if they could not agree on the future of Stamford Bridge.

Stamford Bridge remains a major issue

The stadium question has been one of the key areas where the ownership group needs to find common ground. Chelsea are considering whether to remain at Stamford Bridge and expand the existing ground or potentially relocate, with Earl's Court among the possible alternatives.

Boehly previously said the owners needed to take a long-term view of the club's stadium plans and determine whether they remained aligned on the direction of the project.

The complexity of developing a major stadium in London, where available space is limited, means the decision could have significant financial and strategic implications for Chelsea.

Chelsea enter another new era

The potential ownership changes come during another period of transition on the football side. Enzo Maresca left the club at the beginning of 2026 after winning the Conference League and Club World Cup, with Chelsea eventually finishing 10th in the Premier League and missing out on European football.

Xabi Alonso has since been appointed as the new head coach and Chelsea have continued to invest heavily in their squad. The club have spent more than £280m on 12 new signings this summer, underlining their ambition to return to the top end of English football.

Among the headline arrivals is Morgan Rogers, who reportedly cost £117m, while Chelsea have also brought in experienced players such as Jordan Henderson and Danny Welbeck as part of a change in their recruitment approach.

A possible turning point for Chelsea

The reported talks between Boehly, Walter and Clearlake could therefore have consequences well beyond the ownership structure. If Boehly ultimately sells his stake, Clearlake's control of Chelsea would become even more dominant and could bring greater clarity to the club's decision-making process.

Speaking on Sky Sports News' Paper Talk, Daily Mail journalist Riath Al-Samarrai suggested that Boehly's departure could ultimately be positive for Chelsea by ending some of the uncertainty surrounding the ownership group.

However, any potential sale remains dependent on Clearlake agreeing a financial package acceptable to Boehly and Walter. For now, discussions are ongoing, with Chelsea's ownership structure potentially heading towards another major change.