Chelsea news: Clearlake Capital in talks to increase control of club
Chelsea co-owners Todd Boehly and Mark Walter are in talks to sell their stakes to majority owners Clearlake Capital.
Clearlake currently owns 61.5 per cent of Chelsea, while Boehly, Walter and Hansjörg Wyss each hold 12.8 per cent stakes in the club.
Should the discussions result in a completed deal, Clearlake would significantly increase its ownership and further consolidate its control over Chelsea's direction.
Boehly and Walter discuss selling stakes
Boehly and Walter's discussions with Clearlake represent the latest development in an ownership structure that has experienced tensions since the consortium completed its takeover of Chelsea in 2022.
Clearlake co-founders Behdad Eghbali and José Feliciano have increasingly taken the leading role in the running of the club, despite Boehly remaining closely involved in major decisions.
The possibility of Boehly reducing his stake is particularly notable given his position as the public face of the consortium that originally purchased Chelsea.
Boehly previously indicated that the ownership group needed to remain aligned over the club's long-term plans, particularly concerning Stamford Bridge.
"We have to think long term about what we're trying to accomplish," Boehly told Bloomberg.
"We have a big stadium development opportunity that we have to flesh out. That's going to be where we're either aligned, or we ultimately decide to go different ways."
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Ownership tensions have persisted
The latest discussions come against the backdrop of reported disagreements between Boehly and Clearlake over Chelsea's direction.
One significant point of tension was Mauricio Pochettino's departure in 2024, with reports at the time suggesting Boehly wanted the former Tottenham and Paris Saint-Germain manager to remain at Stamford Bridge.
Sky Sports News' Riath Al-Samarrai described the relationship as an "uneasy alliance" and suggested a greater Clearlake presence could ultimately provide greater clarity behind the scenes.
"It's been a very uneasy alliance, almost from the get-go," Al-Samarrai said.
What would more Clearlake control mean?
Clearlake increasing its stake would give Eghbali and Feliciano an even greater influence over Chelsea's long-term strategy.
The club have undergone significant restructuring since the 2022 takeover, including a succession of managers and an extensive recruitment programme.
Clearlake have also previously indicated their commitment to building Chelsea for the long term, while the club have increasingly focused on younger players and long-term squad development.
The latest ownership development therefore arrives at an important stage for Chelsea, with Xabi Alonso now tasked with turning significant investment and another revamped squad into sustained success on the pitch.
For Clearlake, greater control would also mean greater responsibility to deliver the trophies Chelsea's ambitious ownership structure has promised.
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