Chelsea chairman Todd Boehly and director Mark Walter are in talks to potentially sell their minority stakes in Chelsea Football Club to the club’s majority owner, Clearlake Capital, as of summer 2026 [1, 2, 3, 4]. Clearlake Capital currently controls roughly 61.5% of Chelsea, led by co-founders Behdad Eghbali and Jose E. Feliciano [1, 2, 3, 4].

Boehly and Walter each hold between 12.8% and 16% of the club, alongside Swiss billionaire Hansjörg Wyss, who owns a similar stake [1, 2, 3, 4]. Chelsea’s overall valuation stands at about £5 billion (approximately US$4 billion), according to industry sources [1, 2, 3].

The talks come amid a stalemate between Clearlake and the Boehly/Walter partnership that formed after their consortium purchased Chelsea from Roman Abramovich in 2022 for around £2.3-2.5 billion [1, 2, 3, 4]. Since 2024, the ownership groups have clashed over club strategy and stadium plans, triggering discussions about buying each other out [1, 2, 3]. A sale of Boehly and Walter’s shares to Clearlake would elevate the private equity firm’s total stake to over 86% and grant it full operational control of the club [3].

Walter’s holding company TWG Global has faced scrutiny from U.S. federal prosecutors related to loans involving his insurance businesses. This pressure contributed to asset sales, including the recent $12.5 billion sale of the Los Angeles Lakers in August 2026 [1, 2, 3, 4]. Despite these issues, Walter and Boehly remain close business partners who also co-invested in sports franchises like the LA Dodgers and LA Sparks [3].

Clearlake has gradually increased its involvement in Chelsea’s day-to-day operations. The club secured the 2025 Club World Cup but struggled in domestic competitions, finishing 10th in the Premier League last season before appointing Xabi Alonso as manager over the summer [1, 2, 4].

Chelsea’s ownership agreement bars shareholders from selling stakes to outside parties without consent, limiting the likelihood of an external sale [3]. The stadium redevelopment or new stadium plans have been a key source of tension, with owners divided on design and scale [1, 3].

The next major step will depend on the outcome of ongoing negotiations between Boehly, Walter, and Clearlake over the potential transfer of minority stakes, which resumed in recent weeks [1, 2, 3].