Mark Walter and Todd Boehly selling stakes in Chelsea Football Club to Clearlake Capital
Two of Walter's insurance companies face federal criminal and civil investigations into the accounting of roughly $21 billion in financial transactions.
TL;DR
- Clearlake Capital is acquiring minority stakes from Mark Walter and Todd Boehly in Chelsea Football Club.
- This acquisition gives Clearlake Capital full control of the club.
- Todd Boehly will depart as Chelsea's chairman.
- Mark Walter will remain an important stakeholder.
- The deal values Chelsea at £5 billion.
- The sale comes amid federal investigations into two insurers controlled by Mark Walter.