Roman Abramovich makes an ‘incredibly difficult decision’ to sell Chelsea
The deadline for potential buyers to place bids to buy Roman Abramovich’s Chelsea Football Club is 9pm on Friday night, with some of the world’s richest people reportedly set to be in the mix.
There have been rumors of around 200 offers but it is believed there are now seven front runners. The Chicago Cubs’ owners, the Ricketts family, backed by hedge fund billionaire Ken Griffin, are among the favorites, as is lifelong Chelsea fan and luxury real estate developer Nick Candy.
Former British Airways chairman Sir Martin Broughton is set to bid with the help of Lord Sebastian Coe, while a consortium consisting of LA Dodgers part owner Todd Boehly, Swiss billionaire Hansjorg Wyss and Jonathan Goldstein is another contender than Saudi The Media Group is also said to have shown interest.
The British government last Thursday imposed sanctions on Abramovich – although he can sell the club unless he benefits from the proceeds – but despite the Russian’s asset freeze, Chelsea were given a new license to continue “football-related activities”. However, the club are currently unable to sell match tickets or merchandise and are limited in how much they can spend on any given match day.
It’s also about Friday morning’s Champions League quarter-finals draw, which saw Chelsea beat French champions Lille 4-1 on aggregate in the round of 16.
Follow Chelsea’s latest sales news below:
Will Chelsea takeover be a game changer for the Premier League?
Just hours before the 9pm deadline for Chelsea bids on Friday, the consortium led by Todd Boehly was feeling confident. There is optimism that they have the best all-round offering, right down to fan engagement.
Other well-placed sources advise caution and look away from the source of the noise. They insist that some of the more interested parties have yet to come to light because they don’t feel the need to play it publicly. “There is more pretense than reality – on all sides.” True, as of Friday morning the number of parties at any advanced stage was no more than three.
Friday will show who is serious. The same sources insist there is substantial interest from the Saudi Research and Media Group. Much could depend on Saudi Arabia’s domestic politics and whether Crown Prince Mohamed Bin Salman wants two clubs under his state’s influence. Sources close to the Public Investment Fund – which owns Newcastle United – doubt that will happen.
Luke BakerMarch 18, 2022 9:41 am
Chelsea sale is expected to progress rapidly after the bid deadline is reached
The sale of Chelsea could move quickly after the offer deadline on Friday.
New York merchant bank The Raine Group will compile a shortlist of preferred bidders after the offer period closes on Friday.
The fast pace of the Stamford Bridge club’s sale means there is a shortlist so tight by early next week that there could even be as many as three bids.
A strong core of bidders are poised to submit their proposals, and a group of those bidders significantly strengthened their hands in the face of even more notable developments on Thursday.
Luke BakerMarch 18, 2022 09:32
Sir Martin Broughton’s bid to buy Chelsea gets a big boost
Klein adds another major shot in the arm to Broughton’s bid for the Premier League club, with the American investment specialist’s advisory role indicative of significant financial backing.
Creative Artists Agency and Evolution Media Capital are also believed to have joined Broughton’s bid.
Klein helped advise then-Prime Minister Gordon Brown on the 2008 UK banking crisis and also advised Broughton’s Liverpool bailout in 2010.
Luke BakerMarch 18, 2022 09:22
Chicago Cubs owners confirm Chelsea bid
Cubs chairman Tom Ricketts and his family will spearhead a consortium bid for Stamford Bridge Club, with significant partnership funding said to be in place.
New York merchant bank Raine Group has set an offer deadline for Friday, with Roman Abramovich’s 19-year tenure as owner of Chelsea coming to an end.
“The Ricketts family, owners of the Chicago Cubs, can confirm that they will lead an investment group that will make a formal offer for Chelsea Football Club this Friday,” a spokesman for the Ricketts family said.
Luke BakerMarch 18, 2022 9:17 am
Who is buying Chelsea? The potential new owners of the club according to Roman Abramovich
The Roman Abramovich era at Chelsea is coming to an end. Following sanctions against Abramovich and a freeze on his assets, the UK government is overseeing the move which will see him relinquish control of the club he bought in 2003.
After handing over management of the club after the Russian invasion of Ukraine, Abramovich said that selling the club was “in the best interest of the fans, staff, sponsors and partners”.
As it grows into one of Europe’s largest and most successful clubs, only a select group of the super-rich will be able to afford to buy the London club
Here are some contenders Chelsea could buy:
Luke BakerMarch 18, 2022 9:12 am
EXPLAINER: Bids are received prior to the Chelsea sale deadline
For Sale: A Premier League Club. Condition: Troubled. Value: over $2 billion.
The deadline for submitting bids to buy Chelsea and end the 19-year ownership of Russian billionaire Roman Abramovich is Friday.
This is a sale forced on the oligarch after he was sanctioned by the UK government for his close ties to Russian President Vladimir Putin after invading Ukraine.
There was a stream of bidders who went public with their interest and we explain who the main candidates are.
Luke BakerMarch 18, 2022 09:06
https://www.independent.co.uk/sport/football/chelsea-sale-live-updates-latest-news-b2038737.html Chelsea FC football news live updates: The sale deadline is approaching as takeover bids are due by 9pm and John Terry emerges with consortium ‘True Blue’