Mark Walter could be preparing to sell another major sports asset only days after agreeing to part ways with the Los Angeles Lakers.
According to Samuel Agini, Arash Massoudi, Lee Harris and Antoine Gara of the Financial Times, Walter and Todd Boehly are in talks to sell their stakes in Chelsea FC to majority owner Clearlake Capital.
The discussions remain ongoing and there is no guarantee that a deal will be completed, but the development would represent another significant sports divestment for Walter in a very short period of time.
Walter and Boehly were part of the consortium that bought Chelsea for £2.5 billion in 2022 following Roman Abramovich's forced sale of the Premier League club. Clearlake owns more than 60% of Chelsea, while Walter and Boehly's side of the ownership group shares joint control and equal governance.
Mark Walter, Jeanie Buss
Credit PI via ZUMA Press Wire - Scanpix
Mark Walter, Jeanie Buss
Walter continues selling high-profile assets
The renewed Chelsea talks come shortly after Walter agreed to sell the Lakers to Bob Iger and Josh Kushner at a record $12.5 billion valuation, less than a year after he had acquired controlling interest in the NBA franchise.
His insurance companies are currently under examination by U.S. prosecutors following disclosures involving loans and investments between related businesses. Walter's companies have since been working to reduce those exposures and raise cash.
A Chelsea stake sale would therefore continue a notable run of asset sales for Walter, who has built one of the most extensive sports portfolios in the United States and Europe.
The negotiations could also help resolve long-running tensions within Chelsea's ownership group. Boehly and Walter's side of the consortium has reportedly clashed with Clearlake over the club's strategy since the takeover.
For Walter, however, the bigger picture is becoming increasingly clear: after agreeing to sell one of the NBA's most valuable franchises, he is now also exploring an exit from another of the world's most prominent sports clubs.