Todd Buhle and fellow co-owner Mark Walter sold their shares in Chelsea, handing over full control of the club. Premier League The club is to private equity firm Clearlake Capital.
Clearlake previously owned a 61.5% stake in Chelsea, while Buhle and Walter each owned 12.83%. Swiss philanthropist Hansjörg Wiess, who also owns a 12.83% stake, will remain part of the ownership group.
The consortium completed the purchase of Chelsea in 2022 for £2.5bn, with a further £1.75bn set aside to invest in the club following sanctions imposed on former owner Roman Abramovich.
The Financial Times reported that Buhle and Walter will receive £950 million for their joint stake, with the deal valuing Chelsea at £5 billion including debt.
Buhle steps down as Chairman of the Board of Directors
As part of the ownership changes, Buhle will relinquish his position as Chelsea president.
The club praised its “steadfast commitment” to the ownership group’s belief that fans should remain at the heart of Chelsea.
“It has been an honor for me to assume the position of President of Chelsea Football Club,” Buhle said in a club statement.
“I would like to thank the many who have helped secure a bright future for the club, including the Premier League, the coaches and players, the talented leadership and staff at Chelsea, and the legions of dedicated fans.
“I have valued my partnership with Clearlake and the wider ownership group, and the collective decisions and investments we have made to support the club’s immediate and long-term success. I am confident that Chelsea are well placed for continued success under Clearlake’s leadership.”
Chelsea insists there will be no major changes
Walter recently completed the sale of the Los Angeles Lakers to a group led by venture capitalist Joshua Kushner and former Disney CEO Bob Iger, in a deal that valued the NBA franchise at $12.5 billion.
He is still the owner of the Los Angeles Dodgers and is also under federal investigation regarding the insurance companies he owns.
Chelsea appointed Xabi Alonso as manager over the summer and are currently sixth in the Premier League.
