Todd Boehly and Mark Walter have departed Chelsea after selling their shares in the club to majority owners Clearlake Capital.

After four years in west London, Boehly and Walter's time at Chelsea has come to an end, selling their respective 12.8 per cent stakes to Clearlake, who have now transitioned into a larger shareholding, and other shareholder Hansjörg Wyss.

Wyss is confirmed to be remaining at Chelsea as an 'important stakeholder'.

Boehly was a key figure in the Boehly-Clearlake consortium that won the takeover race to acquire the club from its previous owner, Roman Abramovich.

He also served as Chairman of the club, a role he will now vacate, likely to be taken over by someone connected to Clearlake.

'Todd Boehly now leaves his role as Chairman with Chelsea well positioned for the next phase of development,' a club statement read.

'The progress made over the past four years reflects the shared commitment of Clearlake, Boehly and the wider ownership group and the leadership, staff, coaches and players at Chelsea.

'Clearlake intends to continue building on the strategic course the Club is now on and realising the ambition that the ownership group has developed together.'

After the £4.25 billion takeover in May 2022, a new chapter awaits Chelsea, although the club did confirm that 'there will be no changes to the day-to-day operations, leadership or strategy'.

It brings an end to speculation over the club's ownership structure, with Boehly and Walter suggested to have made a small profit on their investment.

During their time at the club, Chelsea has been revamped. With substantial investment across the club, the men's team won the Club World Cup trophy last summer.

'The owners have worked together with the shared objective of building a sustainable foundation for long-term sporting success,' read the club statement.

'Under their joint ownership, substantial investment has been made across the men's and women's senior and youth squads, Chelsea’s training facilities at Cobham, medical and player-support resources, Academy development and pathways, and the sporting and business leadership of the Club.'

With Chelsea confirming that there will be 'no changes to the day-to-day operations, leadership or strategy', it appears to be business as usual for the Blues.

However, with a single majority owner making decisions, they are now likely to speed up on any projects, plans and ideas they have, since it won't require the approval of Boehly, who did have equal voting rights.

With each major decision requiring sign-off from both Boehly and Clearlake, board-level decision-making wasn't always smooth sailing. Disagreements arose on key issues, such as the club's future at Stamford Bridge.

As reported by The Times, Chelsea insiders are hopeful their departure will enable the club to make more meaningful progress in some bigger projects.

It is reported that work to improve and modernise the club’s Cobham training ground is expected to start shortly.

The Times also report Wyss and Clearlake have purchased Boehly and Walter's stakes together, beginning a new investment partnership between the parties.

But the focus will be on the pitch for now, as Chelsea continue to back new manager Xabi Alonso, who has made a positive start to life in the capital.

In a parting message, Boehly was hopeful for the future of Chelsea, saying: "It has been an honour to serve as Chairman of Chelsea Football Club. I would like to thank the many who helped secure a bright future for the Club, including the English Premier League, the coaches and players, the talented leadership and staff at Chelsea, and the legions of dedicated fans.

"I have valued my partnership with Clearlake and the wider ownership group, and the collective decisions and investment we have made to support the immediate and long-term success of the Club. I am confident that Chelsea is well positioned for continued success under Clearlake’s leadership."