Todd Boehly and his co-owner Mark Walter have sold their holdings Chelseagiving full control of the Premier League club at private equity firm Clearlake Capital.
Clearlake previously held a 61.5% stake in Chelsea, with Boehly and Walter each owning 12.83%. Swiss philanthropist Hansjorg Wyss, who also held a 12.83% stake, will remain part of the ownership group.
The consortium completed its purchase of Chelsea in 2022 for £2.5bn, with a further £1.75bn pledged to invest in the club following sanctions imposed on former owner Roman Abramovich.
The Financial Times reported that Boehly and Walter will receive £950m for their combined stake, with the deal valuing Chelsea at £5bn including debt.
Boehly steps down as president
As part of the ownership changes, Boehly will step down as Chelsea chairman.
The club praised his “unwavering commitment” to the ownership group’s belief that fans should remain at the heart of Chelsea.
“It has been an honor to serve as chairman of Chelsea Football Club,” Boehly said in a club statement.
“I would like to thank the many who helped secure a bright future for the Club, including the English Premier League, the managers and players, the talent and staff at Chelsea and the legions of dedicated fans.
“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. I am confident that Chelsea is well-positioned for continued success under Clearlake’s leadership.”
Chelsea insist there will be no major changes
Walter recently completed the sale of the Los Angeles Lakers to a group led by venture capitalist Joshua Kushner and former Disney CEO Bob Iger, in a deal that valued the NBA franchise at $12.5 billion.
He remains the owner of the Los Angeles Dodgers and is also under federal investigation related to the insurance companies he owns.
Chelsea appointed Xabi Alonso as manager in the summer and are currently sixth in the Premier League.