Less than a week after agreeing to sell his stake in the Los Angeles Lakers, Mark Walter is reportedly looking to sell his ownership stake in Chelsea Football Club, according to the Financial Times.
Walter and his business partner, Todd Boehly, are seeking to sell their minority stakes in the English soccer club to majority owner Clearlake Capital. Walter and Boehly acquired their stakes in May 2022, when BlueCo, a consortium led by Boehly and Clearlake Capital, purchased Chelsea from Roman Abramovich.
The reported sale comes as Walter faces a federal investigation into his business practices. Reports indicate that the FBI seized Walter's phone and laptop, along with those of a top Guggenheim Investments executive, last year. This development has fueled speculation that the recent sale of the Lakers was an effort to quickly liquidate assets in anticipation of potential legal challenges.
This story is developing.