Boehly steps down as Chelsea chairman

Todd Boehly has stepped down as Chelsea chairman after selling his stake in the club to majority owner Clearlake Capital, which has now taken full control

Boehly and director Mark Walter sold their shares in a deal that hands Clearlake complete ownership. Boehly, Walter and Swiss billionaire Hansjörg Wyss previously each held a 12.8% stake, while Clearlake owned 61.5%. The club confirmed Wyss will remain an important stakeholder and partner in the ownership group.

Clearlake, led by co-founders Behdad Eghbali and José E. Feliciano, paid approaching £1 billion for the stakes, which represent about a quarter of the club. Club sources put Chelsea’s overall value at around £5 billion.

Boehly has held the chairman role since 2022, when the consortium bought Chelsea for £2.3 billion from Roman Abramovich following UK government sanctions. He will leave the position as part of the transaction.

In a statement on Thursday, Boehly said: “It has been an honour to serve as Chelsea chairman. I would like to thank the many who helped secure a bright future for the club, including the English Premier League, the coaches and players, the talented leadership 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.”

Eghbali and Feliciano thanked Boehly for his “time and contribution” as chairman, adding that he “will always be a part of the Chelsea story and family.” They said their focus remains on investing in the club’s infrastructure, sporting performance, player development and delivering long-term success for supporters.

A club statement confirmed there will be “no changes to the day-to-day operations, leadership or strategy” following the deal. Boehly and Walter have also sold their shareholding in Chelsea’s partner club, French side Strasbourg.

Talks within the ownership group began after a rift that first became apparent in 2024, with both sides previously exploring options to buy each other out. BBC Sport reported in August that Boehly and Walter were considering selling their stakes.

Since the 2022 takeover, Chelsea’s highest Premier League finish has been fourth in 2024-25, a season in which they also won the UEFA Conference League and FIFA Club World Cup. The club finished 10th last season and appointed Xabi Alonso as manager in the summer.

The ownership period has been marked by high player turnover and a strategy focused on signing young players to long-term contracts. Plans to redevelop Stamford Bridge or move to a new stadium had at times created tension between Boehly’s camp and Clearlake.

Walter, co-owner and chief executive of Guggenheim Partners, last month sold the Los Angeles Lakers for a record $12.5 billion. US federal prosecutors and the Securities and Exchange Commission are separately investigating companies in his business empire.