Todd Boehly and Mark Walter have held talks about selling their Chelsea shares to majority owner Clearlake Capital. Clearlake currently holds 61.5 % of the club, while Boehly, Walter and Hansjorg Wyss each own a 12.8 % stake, a structure set after the £2.5 bn consortium purchase four years ago.

Under Behdad Eghbali and Jose Feliciano, Clearlake effectively runs the club even though Boehly serves as chairman, a situation that has generated friction between the two groups.

Boehly said the club must think long term about a stadium development, noting that options include staying at Stamford Bridge or moving to Earl’s Court, a plan complicated by limited London space and the need for a £117 m Morgan Rogers‑Cole Palmer partnership to be financed. He warned that if the stadium plans do not align, the owners could go their separate ways, a scenario he mentioned in March 2025.

Past disputes in 2024 over the coaching appointment of Mauricio Pochettino and recent managerial changes, including Enzo Maresca’s exit and Xabi Alonso’s arrival, have added to uncertainty. A Sky Sports podcast with Peter Smith, James Savundra and David Richardson analyses the new era amid transfer spending, Enzo Fernandez’s future and the club’s search for success on the pitch. The club also plans to spend over £280 m on new signings this summer.