Mere days after selling the Los Angeles Lakers, Mark Walter is reportedly looking to get rid of shares in another professional sports team. Walter is reportedly open to selling his shares in Chelsea and has already had talks on the topic, per the Financial Times.
Both Walter and Todd Boehly, which co-own those stakes, reportedly spoke with team majority owner Clearlake Capital about buying their stakes in the club. Clearlake currently owns more than 60 percent of the team, but “shares joint control and equal governance of Chelsea FC with Boehly, who chairs the club,” per the Financial Times.
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That partnership hasn’t always seen eye to eye on team management, and talks involving Boehly and Walter selling their shares have reportedly happened on and off over the past few years. But Walter’s sale of the Lakers apparently revived negotiations with Chelsea.
On Wednesday, Walter sold the Lakers to an ownership group led by Joshua Kushner and Bob Iger for $12.5 billion. Walter originally purchased the franchise for $10 billion last June. It was a stunning move considering how recently Walter purchased the Lakers, arguably the most prestigious franchise in the NBA.
Walter and Boehly — along with Swiss businessman Hansjorg Wyss — and Clearlake, purchased Chelsea in 2022 for roughly $3.38 billion. Walter and Boehly reportedly value the franchise around $6 billion now, per the Telegraph.
Walter’s sudden willingness to sell comes amid a federal probe looking into whether he properly disclosed loans to his companies. His companies have denied all wrongdoing.
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The timing of his willingness to sell, however, is curious given that Walter is currently the subject of a federal probe.
Despite that, Walter seemingly isn’t looking to sell of his stakes in professional sports. At the time of the Lakers’ sale, reports emerged suggesting Walter would keep his ownership stake in the Los Angeles Dodgers.
Chelsea is coming off a successful year, which saw them win the Fifa Club World Cup and the Uefa Europa Conference League.
