Todd Boehly steps down as Chelsea chairman as Clearlake takes full control

Todd Boehly has stepped down as chairman of Chelsea after agreeing to sell his ownership stake to Clearlake Capital.

Chelsea confirmed that Clearlake will take full control of the Premier League club following the acquisition of shares held by Boehly and fellow investor Mark Walter.

Boehly, who became one of the public faces of Chelsea’s ownership group after the club was acquired in 2022, described serving as chairman as an honour.

He thanked Chelsea’s coaches, players, staff and supporters and expressed confidence in the club’s future under Clearlake’s leadership.

Walter has also sold his stake, while Swiss businessman Hansjörg Wyss will remain involved as what Chelsea described as an important stakeholder and partner.

Boehly, Walter and Wyss each previously held minority stakes, while Clearlake already controlled the largest share of the club.

The ownership group acquired Chelsea from Roman Abramovich in 2022 after the former owner was sanctioned by the UK government.

Since then, the club has undergone major changes on and off the pitch, including significant spending on player recruitment.

Chelsea said the latest ownership changes would not alter the club’s day-to-day operations, leadership or strategic direction