Todd Boehly has stepped down as chairman of Chelsea and agreed to sell his stake in the club as majority owner Clearlake Capital moves to take full control.
Boehly and fellow director Mark Walter have agreed to sell their combined 25 per cent stake to Clearlake in a deal that values Chelsea at about £5bn.
The transaction will see Clearlake increase its ownership from 61.5 per cent to 86.5 per cent, while Swiss billionaire Hansjörg Wyss will retain a 13.5 per cent stake.
Boehly, who was the public face of the consortium that completed the £2.5bn takeover of Chelsea from Roman Abramovich in 2022, will no longer have any role in the club’s governance, management or decision-making.
Walter and Jonathan Goldstein have also stepped down from the Chelsea board.
Despite the ownership change, Chelsea said there would be no immediate changes to the club’s day-to-day operations, leadership or overall strategy.
The club also confirmed that there are no plans to appoint a new chairman, with the existing executive sporting and commercial teams set to remain in place.
Boehly said he was proud to have served as Chelsea chairman and expressed confidence in the club’s future under Clearlake’s leadership.
“It has been an honour to serve as chairman of Chelsea Football Club. 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,” he 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 Feliciano thanked Boehly for his contribution, describing him as an important partner during the ownership period.
“Todd has been an important partner throughout our ownership of Chelsea, and we thank him for his time and contribution as chairman. He will always be a part of the Chelsea story and family,” they said.
They added that Clearlake’s focus would remain on investing in Chelsea’s infrastructure, sporting performance and player development while pursuing long-term success.
The latest development brings an end to a period of reported tension between Boehly and Clearlake over the direction of the club.
In March 2025, Boehly acknowledged that the ownership group could eventually go its separate ways if an agreement could not be reached over the future of Stamford Bridge.
Chelsea has been considering whether to redevelop Stamford Bridge or move to a new stadium, with Earl’s Court identified as one of the possible locations. The club has continued to assess its options amid the challenges of developing a major stadium project in London.
There were also reported differences between Boehly and Clearlake over football management. Sky Sports News reported in 2024 that Boehly had been unhappy with how the club was being run and had opposed the decision to part ways with Mauricio Pochettino.
Pochettino was replaced by Enzo Maresca, who led Chelsea to success in the Conference League and Club World Cup before leaving the club in 2026.
Chelsea subsequently appointed Xabi Alonso as manager, with the new head coach receiving the backing of the ownership.