$1.27B CHELSEA EXIT FOR BOEHLY AND WALTER

🚨 $1.27 billion for two minority stakes in Chelsea.

Mark Walter and Todd Boehly are selling out to Clearlake Capital, Chelsea confirmed Wednesday night. Each man held about 12.8% of the club.

The Financial Times reports the pair will receive a combined £950 million. That prices Chelsea at £5 billion.

Clearlake already held 61.5% and has been majority owner since 2022. The purchase gives it full control. Boehly is leaving as chairman.

Swiss billionaire Hansjörg Wyss stays on as what the club calls an important stakeholder. Chelsea says there will be no changes to day-to-day operations, leadership or strategy.

The backdrop is bigger than football. CNBC reports the sale comes just over a month after Walter agreed to sell his controlling stake in the Los Angeles Lakers to Joshua Kushner and Bob Iger.

That Lakers deal drew fresh attention to dual federal criminal and SEC investigations into whether roughly $21 billion in investments by two insurers Walter controls, Delaware Life Insurance and Clear Spring Life and Annuity, were properly disclosed as affiliated or related-party transactions.

Walter's holding company TWG Global said on Aug. 26 that there has been no fraud at the company or its subsidiaries, and that it is committed to working with the Justice Department and the SEC to resolve the inquiries.

Clearlake's co-founders thanked Boehly and said the focus now is infrastructure, sporting performance and player development.

Is £5 billion a fair price for Chelsea right now?

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