What is Clearlake Capital and do they have full control over Chelsea after Todd Boehly sold ownership stake?

CHELSEA are going through a major change off the pitch involving owners Clearlake Capital. SunSport can reveal exactly who this private firm is and what is going on behind the scenes. Todd Boehly has stepped down as Chelsea chairman Credit: PA What is Clearlake Capital? Clearlake Capital Group is a major American private equity firm founded in 2006. The firm was set up by billionaires Behdad Eghbali and Jose E FelicianoIt is headquartered in Santa Monica, California, and manages more than $185billion in assets. Sign up for the Chelsea newsletter Thank you! Clearlake typically invests in technology, industrial and consumer sectors.The firm is known for securing some of the private equity industry’s best financial returns 5. In May 2022, Clearlake entered the sports world by leading a consortium to buy Chelsea from Russian billionaire Roman Abramovich.The takeover deal was worth a whopping £2.3billion.Clearlake took a 61.5% majority stake in Chelsea, while partners Todd Boehly, Mark Walter and Hansjorg Wyss split the remaining shares. The investment firm has been the driving force behind Chelsea’s massive spending on players.Under the joint ownership, the club committed more than £1.5billion to new signings. Do Clearlake Capital have full ownership over Chelsea? On Wednesday September 16, Chelsea announced that Clearlake is taking full control of the club. The private equity firm has agreed to buy out the minority stakes held by co-owners Todd Boehly and Mark Walter. Hansjorg Wyss will remain as a minority stakeholder and partner in the ownership group. Most read in Football As part of the transition, Boehly will step down from his role as Chelsea chairman. What has Todd Boehly said? In Wednesday’s statement, the American said: “It has been an honour to serve as Chairman of Chelsea Football Club. “I would like to thank the many who helped secure a bright future for the Club, including the English 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 investment we have made to support the immediate and long-term success of the Club. “I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership.” What have the co-founders of Clearlake Capital said? Eghbali and Feliciano, co-founders of Clearlake Capital, said: “Todd has been an important partner throughout our ownership of Chelsea, and we thank him for his time and contribution as Chairman. “He will always be a part of the Chelsea story and family.” They added their focus will be on “investing” in the club and “delivering long-term success for Chelsea and the Club’s supporters”. Comment now