Chelsea’s majority owner, Clearlake Capital, is nearing an agreement to buy out co-owners Todd Boehly and Mark Walter. The reported transactions would value the club at roughly £5 billion and would allow the pair to realise a profit on their investment, according to coverage of the talks.

Both outlets describe discussions between the ownership groups that have been ongoing for around two years, with momentum building more recently. One report says talks intensify last month after Mark Walter seeks to raise funds to pay insurers following a U.S. federal investigation related to alleged tax fraud. Another report frames the situation as part of a broader ownership reshuffle, with Clearlake already holding a 61.5% stake and now in advanced discussions to acquire Boehly and Walter’s combined 12.8% holdings.

The overall picture across sources is that negotiations are at an advanced stage, but details of timing and final terms are not settled in the reports provided.