CLEARLAKE CAPITAL IN TALKS TO BUY OUT CHELSEA CO-OWNERS

Clearlake Capital is closing in on an agreement to purchase the minority stakes held by Todd Boehly and Mark Walter in Chelsea Football Club, according to reports. The deal would value the club at around £5bn and allow both men to make a profit on their investment. Under the terms of Chelsea's ownership agreement, Clearlake holds an exclusive option to purchase the stakes of other shareholders. Mark Walter's spokesperson confirmed to Bloomberg that he is seeking a sale and that an agreement is close.

Boehly, Walter and Swiss billionaire Hansjörg Wyss each own 12.8% of Chelsea following their joint £2.5bn purchase of the club from Roman Abramovich four years ago. Walter, Boehly and Wyss committed at that time to spending a further £1.75bn on the club. Discussions between the two ownership groups have taken place over the past two years but intensified last month. Walter's push to raise funds follows a US federal investigation into alleged tax fraud, for which he is seeking to pay off insurers. Boehly is expected to sell his stake as a long-time investment partner of Walter; Wyss's position remains unconfirmed.

Walter's spokesperson stated that the potential transaction values his stake at a premium to his initial investment and represents another successful sports investment for him. The spokesperson added that after his exit, Walter intends to make future sports-related investments. Clearlake Capital's investment is managed by Behdad Eghbali and José E Feliciano. The transaction remains subject to agreement between the two ownership groups.