Mark Walter may look to sell Chelsea for next move

Key Points:

• Mark Walter, who sold his majority stake in the Los Angeles Lakers just a year after purchasing it, is reportedly considering selling his stake in Chelsea Football Club alongside business partner Todd Boehly.
• Walter and Boehly bought stakes in Chelsea in May 2022 as part of BlueCo, after purchasing the club from Roman Abramovich, and are now looking to sell their shares to Clearlake Capital, which has had ongoing friction with minority stakeholders.
• The Lakers sale to Josh Kushner and Bob Iger for $12.5 billion followed a contentious family decision within the Buss family, with Jeanie Buss opposing the sale of the remaining shares and planning to contest it.
• Walter’s quick asset liquidation, including the Lakers and potentially Chelsea, comes amid a federal investigation involving the Guggenheim Partners CEO, with the FBI having seized his electronic devices last year.
• Chelsea was initially purchased for £2.5 billion in 2022 with an additional £1.75 billion committed for future investments, and its current valuation is estimated at around £5 billion.