Chelsea Football Club is on the verge of a major ownership shift as its majority owners, Clearlake Capital, move closer to buying out co-owners Todd Boehly and Mark Walter. If the deal goes through, it would value the club at approximately £5 billion and allow Boehly and Walter to realize a profit on their original investment. The discussions between the two ownership groups have been ongoing for nearly two years, but recent developments have accelerated the process. Mark Walter, one of the co-owners, has been seeking to raise capital to pay off insurers following a U.S. federal investigation into alleged tax fraud. Walter, along with Boehly and Swiss billionaire Hansjörg Wyss, each hold a 12.8% stake in the club, which they acquired together with Clearlake Capital in a £2.5 billion purchase from Roman Abramovich four years ago. At the time, the new owners pledged an additional £1.75 billion in investments for the club. Under the ownership agreement, none of the shareholders can sell their shares to a third party without the approval of the others, giving Clearlake the exclusive right to buy out Boehly and Walter’s stakes. A spokesperson for Walter confirmed to Bloomberg that a sale is nearing agreement, and Boehly is expected to sell as well, given their long-standing partnership. As the largest shareholders, Clearlake already has operational control of the club, managed by Behdad Eghbali, and were set to appoint their own chairman to replace Boehly next year. Taking full ownership would reduce internal tensions and streamline decision-making. The most immediate impact of this change is likely to be seen in Chelsea’s stadium plans, as Eghbali and Boehly have had disagreements over whether to redevelop Stamford Bridge or explore alternative sites. Mark Walter is currently under investigation by the U.S. Department of Justice regarding $21 billion in loans that were allegedly not disclosed to state insurance regulators. This led to the sudden sale of assets to pay down some of the loans, including his 85% stake in the Los Angeles Lakers, which was sold for around £9 billion. Despite this, Walter’s holding company, TWG Global, stated that it is not looking to sell its sports assets at "fire sale" prices. Representatives for Boehly and Clearlake have not commented on the situation.