Clearlake Capital has taken full control of Chelsea after buying out Todd Boehly and Mark Walter, with the Premier League club confirming the deal on Wednesday, according to BBC Sport.
Swiss businessman Hansjörg Wyss, the third member of the original 2022 buying consortium, remains a partner in the ownership group alongside Clearlake, which had held a 61.5% stake before the transaction. Boehly and Walter each owned roughly 12.8%.
Boehly steps down as chairman, a post he has held since the consortium's £2.5 billion purchase of Chelsea from Roman Abramovich, who was sanctioned by the UK government in March 2022 over alleged Kremlin links, which he has always denied.
Talks over a possible split within the ownership group had been rumbling since a rift first surfaced in 2024, with BBC Sport reporting as far back as August that Boehly and Walter were weighing an exit.
"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," Boehly said.
"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."
Clearlake co-founders Behdad Eghbali and Jose E. Feliciano paid tribute to the outgoing chairman.
"Todd has been an important partner throughout our ownership of Chelsea, and we thank him for his time and contribution as chairman," they said. "He will always be a part of the Chelsea story and family."
Chelsea's best Premier League finish since the takeover came in 2024-25, when the club placed fourth and also won the Uefa Conference League and the Fifa Club World Cup. Squad turnover has been high throughout the Clearlake era, built initially around long contracts for young signings.
The Blues finished 10th last season and brought in Xabi Alonso as head coach over the summer. Plans to either redevelop Stamford Bridge or relocate have reportedly been a point of friction between Boehly's camp and Clearlake.
A club statement said there would be "no changes to the day-to-day operations, leadership or strategy" as a result of the sale.
Walter's exit from Chelsea follows a separate blockbuster deal last month in which the Guggenheim Partners chief executive sold the Los Angeles Lakers for a reported $12.5 billion, little over a year after buying the NBA franchise. Walter's business empire is separately facing scrutiny from US federal prosecutors and the Securities and Exchange Commission.
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