Boehly, Walter Weigh £5 Billion Chelsea Share Sale to Clearlake as $21 Billion Probe Pressures Walter
Updated
Updated · The Guardian · Aug 17
Boehly, Walter Weigh £5 Billion Chelsea Share Sale to Clearlake as $21 Billion Probe Pressures Walter
3 articles · Updated · The Guardian · Aug 17
Summary
Clearlake has reopened talks to buy Todd Boehly and Mark Walter’s Chelsea stakes in a deal valuing the club at more than £5 billion, potentially ending the club’s two-year ownership deadlock.
Walter’s need for cash has accelerated discussions after a US Justice Department investigation into alleged tax fraud tied to $21 billion in loans and insurer disclosures.
Boehly, Walter and Hansjörg Wyss control about 38% through Blueco 22, but Chelsea’s 2022 ownership terms effectively block a sale to outside buyers without partner consent.
A sale by Boehly and Walter would lift Clearlake’s holding above 86% and hand it effective control of Chelsea, including long-disputed plans for a new Stamford Bridge stadium.
The move would also cap Boehly’s retreat from day-to-day influence at Chelsea, where Clearlake had already been set to replace him as chair after the season.