Photo by Eddie Keogh - UEFA/UEFA via Getty Images
Photo by Eddie Keogh - UEFA/UEFA via Getty Images
Chelsea could be set for a change of ownership structure with Todd Boehly and Mark Walter potentially on their way out of Stamford Bridge.
As reported by The Telegraph, both Todd Boehly and Mark Walter are in talks to sell their stakes in Chelsea.
There have been reports of friction behind the scenes at Stamford Bridge between Boehly and Clearlake Capital chief Behdad Eghbali.
Boehly and Walter each own a 12.8% stake in Chelsea after joining a consortium to complete a £2.5bn takeover of the club in 2022, with a further £1.75bn committed to club investment. If Boehly and Walter are going to sell their stake, the deal will reportedly value Chelsea at a staggering £5bn.
Todd Boehly, Chairman of Chelsea (L) and co-owner Mark Walter
Photo by Chris Brunskill/Fantasista/Getty Images
Todd Boehly and Mark Walter graphic
Photo by Chris Brunskill/Fantasista/Getty Images
Kieran Maguire reacts to Chelsea ownership change
The Chelsea Chronicle have spoken exclusively to football finance expert Kieran Maguire about the news that Boehly and Walter could sell their shares.
Maguire explained how an ownership change could impact a new stadium build, and also why it could be a win-win deal for all behind the scenes.
“I think it makes a lot of sense from Clearlake’s view to have everybody rowing in the same direction when it comes to Chelsea,” Maguire said.
“There’s a huge decision to be made in terms of where the club’s going to be playing in the future, if that can’t be agreed, and it’s causing friction at boardroom or senior level, then it’s probably not helping the club.
“So Clearlake buying out Boehly and Walter, who is in danger of becoming a bit of an embarrassment, then that makes sense. Clearlake just want to get on with the job.
“We have seen a substantial increase in club values over the course of the last 2 to 3 years. The multiples which they are going for have increased.
“We saw in the Forbes report that the average football club’s value is 5.6 times the revenue.
“I know Chelsea are going to be reporting record revenues for season 2025/26, they’ve got some of the overhang from the Club World Cup and the bonuses that will go along with that.
“They made some progress, but clearly not as much as they would have liked, in the Champions League as well.
“So you factor those in, and it makes the numbers look probably a lot better than we’re going to see for 2026/27.
*“But if Clearlake can use that, or Boehly and Walter can use that as the basis for negotiations, then they come out of it well, and Clearlake can get rid of a couple of nuisances.*“
Chelsea FC v Paris Saint-Germain FC - UEFA Champions League 2025/26 Round of 16 Second Leg
Photo by Robin Jones/Getty Images
Chelsea valued higher than Liverpool takeover
If Boehly and Walter’s sale goes ahead, the price of their shares would rank Chelsea right at the top of a list of England’s most valuable football club.
A valuation of more than £5 billion is higher than the valuation put on Manchester United during Sir Jim Ratcliffe’s takeover and also higher than the ongoing investment from Jeff Bezos’ consortium into Liverpool.
READ MORE: Who is Mark Walter? The Chelsea shareholder looking to sell his 12.7% stake to Clearlake
According to Sky News, Liverpool are being valued at £4.4bn for the Bezos investment deal, which is set to go ahead.
Clearlake Capital is Chelsea’s majority shareholder with a 61.5% stake, but their stake could grow to close to 85% if they buy up Boehly and Walter.