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Topline Billionaires Mark Walter and Todd Boehly are considering exiting their stakes in Chelsea FC, according to the Financial Times, entering discussions as Walter faces federal fraud investigations following his brow-raising sale of the Los Angeles Lakers. Key Facts Walter and Boehly are in talks to offload their minority positions in Chelsea FC to Clearlake Capital, according to the Times, which noted its sources cautioned a deal is not yet certain. If Walter and Boehly exited the soccer club, it would mark the end of a long-running governance deadlock with Clearlake Capital, which holds more than 60% of Chelsea but shares equal decision-making authority with Boehly. The discussions come as federal investigators are reportedly probing whether Walter used insurers he controls to improperly funnel billions of dollars worth of loans to other firms owned by him. Walter recently sold the Los Angeles Lakers in a deal valuing the team at $12.5 billion, doing so just 14 months after he bought the team for $10 billion, triggering conspiracy theories the fraud investigation into Walter may have benefited new owner Josh Kushner, the brother of President Donald Trump’s son-in-law Jared Kushner, after Josh Kushner bought the Lakers alongside former Disney chief Bob Iger. If Walter exits Chelsea, that will bring his major sports holdings down to three teams—the Los Angeles Dodgers, the Los Angeles Sparks, which he co-owns with Magic Johnson, and the French soccer team RC Strasbourg Alsace, which he co-owns alongside Boehly. Forbes Valuation We estimate Walter’s net worth at $7.8 billion and Boehly’s at $9.3 billion. Since acquiring a stake in Chelsea in 2022, Walter’s fortune has grown $3 billion. Tangent An investor group including Amazon co-founder Jeff Bezos bought a minority stake in Liverpool FC last week, gaining a roughly 30% stake in the team. The deal values Liverpool FC at roughly $7.4 billion. Key Background The fraud investigation into Walter revolves around companies that worked as intermediaries for loans issued by his insurance firms. It is not illegal for companies owned by the same person to lend money to each other, though loans are required to be disclosed so regulators can ensure insurers are still capable of paying their customers. One insurer controlled by Walter, Delaware Life Insurance Company, disclosed earlier this year it and an affiliate were subpoenaed after an internal review revealed some investments were not properly reported. Walter has dealt with federal investigations before, with the Securities and Exchange Commission probing insurers linked to his global investment firm Guggenheim Partners in 2019 over fraud and misconduct claims. He paid a $20 million fine in 2015 after an SEC investigation found one of his Guggenheim workers borrowed $50 million from Michael Milken, who pleaded guilty to felony securities and tax violations in 1990. Further Reading Why Mark Walter—Facing Federal Scrutiny And Trump Conspiracy Theories—May Have Sold The Lakers (Forbes)