Mark Walter’s desperate plan to generate funds after already deciding to sell Chelsea stake
Unlike Todd Boehly and Behdad Eghbali, Chelsea co-owner Mark Walter has barely been in the headlines in England since the Blues’ takeover four years ago.
However, that has changed over the past few days, with Walter’s financial empire now being investigated by federal prosecutors in America.
There is no doubt that Walter’s decision to sell his minority stake in Chelsea is linked to what is going on back home in the US, and that is another reason why his name has popped up in the news.
What does the future hold for Chelsea if Todd Boehly sells his stake? 🤔
Both Walter and Todd Boehly are open to selling their stakes to Clearlake Capital, Chelsea’s majority shareholder, which would help the two businessmen make some serious cash.
As well as that, though, Walter has also tried to generate funds by getting out of a television deal early.
Walter and Boehly also own the LA Lakers and LA Dodgers, and according to Puck sports correspondent John Ourand, the former asked Charter Communications if they were willing to terminate a multi-year TV deal for a lump sum.
Unfortunately for Walter, those talks went nowhere. However, he should find more success with selling his stake in Chelsea.
It has long been rumoured that Clearlake have wanted to buy out Boehly and his consortium, and it now looks like they have a great chance to do that.
In terms of what it could mean for Chelsea, we are likely to see some progress being made on the redevelopment of Stamford Bridge or the building of a new stadium for the Blues.
There have been disagreements in the boardroom regarding how to move forward with Chelsea’s stadium issue. If Clearlake have full control of the club, there will not be any opposition to their plans, at least in the boardroom.
Chelsea Pitch Owners will still have a large say on the future of Stamford Bridge. Walter, on the other hand, will not.
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