Mark Walter, the billionaire CEO of Guggenheim Partners, is in talks to sell his stakes in Chelsea FC to the club's current majority owner Clearlake Capital, the Financial Times reported Monday, Aug. 17.
The report comes only days after Walter sold the Los Angeles Lakers to a group led by Josh Kushner and Bob Iger, a sale made after less than a year controlling the historic NBA franchise.
Walter currently is facing a federal fraud investigation, though neither the U.S. government nor the Securities and Exchange Commission have brought charges. Some analysts believe Walter is preparing for a potential fine similar to the $20 million one he paid in 2015 after the SEC uncovered one of his associates had received a loan that was not properly reported to regulators.
Walter still owns the Los Angeles Dodgers, the Los Angeles Sparks and, for now, French soccer club RC Strasbourg Alsace. Strasbourg Chelsea partner club is also run by the BlueCo group made up of Walter, Todd Boehly, Swiss billionaire Hansjörg Wyss and Clearlake Capital. Walter also is involved in the Cadillac Formula 1 team through his TWG Global holding company.
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The group acquired Chelsea in 2022, and terms of the acquisition from Russian oligarch Roman Abramovich indicated that all partners must sign off on a sale to a new partner, making a sale to Clearlake much more likely.
Critically for Chelsea, the FT report indicates that not only Walter but also his partner Boehly are exploring selling their sales to Clearlake, which would likely see Clearlake take over almost all decision-making at the club.
Boehly served as the interim sporting director for the club from August 2022 until stepping back from that position in January 2023. He remains the chairman, and is scheduled to hold that role until the end of the 2026-27 season when it would transition to Clearlake.
This article originally appeared on USA TODAY: Mark Walter in talks to sell Chelsea FC stake days after Lakers sale