Meet Chelsea’s new owners, Clearlake Capital

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Chelsea have entered a new ownership era after American investment firm Clearlake Capital acquired the ownership interests of Todd Boehly and Mark Walter, giving it full control of the Premier League club.

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Chelsea confirmed the transition on Wednesday, saying affiliates of Clearlake would acquire Boehly’s ownership interest and Walter’s stake. Swiss businessman Hansjörg Wyss will remain an important stakeholder and partner in the ownership group, according to the club.

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Boehly has also stepped down as chairman.

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The development marks a change in Chelsea’s ownership structure four years after Clearlake and Boehly joined forces to acquire the club from Roman Abramovich.

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So, who are the new owners behind Chelsea?

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What is Clearlake Capital?

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Clearlake Capital is a global private investment firm founded in 2006 by Behdad Eghbali and José E. Feliciano.

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According to information published on Clearlake’s website, the firm operates across private equity, liquid and private credit and other related investment strategies.

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Clearlake says its private-equity business focuses on three main sectors: technology, industrials and consumer businesses.

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The firm says it invests in both private and public transactions across the capital structure, including through buyouts, corporate divestitures, reorganisations and recapitalisations.

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According to its website, Clearlake seeks to partner with experienced management teams by providing what it describes as “patient, long-term capital” and applying its O.P.S. operational improvement approach.

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The firm says its strategy is designed to invest in businesses that can benefit from operational improvements, including companies in transition and businesses affected by market dislocations.

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From three employees to $185bn

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Clearlake was founded in 2006 with three employees and an initial fund of $182m, according to the firm’s corporate history.

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Its website says the firm now has more than $185bn in combined assets under management, more than 500 employees globally and has led or co-led more than 1,900 investments.

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Clearlake’s expansion has included the opening of offices in London and Dublin in 2022 and Singapore in 2023.

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The firm said it launched Clearlake Credit in 2025 after acquiring MV Credit.

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In 2026, Clearlake completed the acquisition of Pathway Capital Management. The firm said the acquisition contributed to its expansion as a global private-markets platform and brought its combined assets under management to more than $185bn.

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Behdad Eghbali

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Behdad Eghbali is a co-founder and managing partner of Clearlake Capital.

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Clearlake’s website identifies Eghbali as one of the firm’s two managing partners and says he has been involved in building the investment platform since its establishment in 2006.

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He has also been one of the key representatives of Clearlake in its ownership of Chelsea.

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When Chelsea announced the latest ownership transition, the club identified Eghbali and José E. Feliciano as Clearlake’s co-founders.

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In the statement, Eghbali and Feliciano described Boehly as an “important partner” during their ownership of Chelsea and thanked him for his contribution as chairman.

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They said Clearlake’s focus under full control would be on continued investment in the club’s infrastructure, sporting performance and player development.

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José E. Feliciano

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José E. Feliciano is Clearlake’s other co-founder and managing partner.

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Clearlake’s corporate profile identifies Feliciano as part of the firm’s senior leadership alongside Eghbali.

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Like Eghbali, Feliciano has been involved in Clearlake’s development since the firm was established in 2006.

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The firm says its investment activities now cover private equity, private credit and other related strategies, with investments ranging from mid-cap to large-cap businesses.

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In its announcement on Chelsea’s ownership transition, the club quoted Feliciano and Eghbali as saying Clearlake would build on the strategic course established during the four years of joint ownership.

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How Clearlake became involved with Chelsea

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Clearlake first became Chelsea’s majority owner in 2022 when it joined a consortium led by Boehly to acquire the club from Abramovich.

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Chelsea’s official announcement of the 2022 takeover said the consortium included Boehly, Clearlake, Wyss and Walter.

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Under that agreement, Boehly and Clearlake shared joint control and equal governance of the club, with Boehly serving as chairman of the holding company, according to Chelsea.

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PUNCH Online previously reported that Clearlake held a 61.5 per cent stake in Chelsea under the ownership arrangement, while Boehly, Walter and Wyss each held 12.8 per cent.n

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Clearlake remained the majority owner throughout the four-year period.

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What has changed now?

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Chelsea said affiliates of Clearlake would acquire the ownership interests of both Boehly and Walter, allowing the investment firm to take full control of the club.

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Wyss will remain an important stakeholder, according to Chelsea.

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The club also said there would be no changes to its day-to-day operations, leadership or strategy following the transaction.

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Boehly, who had served as chairman since the 2022 takeover, has left that position.

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In a statement published by Chelsea, Boehly said it had been an “honour” to serve as chairman and that he was confident the club was “well positioned for continued success under Clearlake’s leadership.”

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Eghbali and Feliciano, meanwhile, said Clearlake would continue investing in Chelsea’s infrastructure, sporting performance and player development.n

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Chelsea said substantial investment had already been made under the joint ownership across the men’s and women’s senior teams, youth squads, the Cobham training facilities, medical and player-support resources, the academy and the club’s sporting and business leadership.

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The club’s latest announcement therefore changes who has control rather than bringing an entirely new investor into Chelsea. Clearlake has been the majority owner since 2022 and will now become the club’s controlling owner following Boehly and Walter’s exit.

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