CHELSEA

All you need to know about Muhsin Bayrak- a potential candidate for Chelsea takeover

Chelsea Muhsin Bayrak, Six Sports

Many names are being linked with a potential takeover of Chelsea since Roman Abramovich announced that he is selling the club. Now Turkish billionaire Muhsin Bayrak has revealed that he is in running to buy Chelsea. Bayrak further claims that negotiations have even begun and are nearing an end. The Turkish businessman has an investment in many fields across construction, energy, tourism, and cryptocurrency.

Muhsin Bayrak has even went on to announce the potential deal in the media. Bayrak said, “We are in the negotiation phase with signatures, we will fly the Turkish flag in London soon. The negotiation process has come to an end and we are planning to sign soon. This sale is also very important for Turkey”. While only time will tell how much of the information provided by him bear the truth, here’s all you need to know about the Muhsin Bayrak who has claimed he is buying Chelsea.

Who is potential Chelsea buyer, Muhsin Bayrak?

Bayrak originally hails from Bitlis, Turkey. He later immigrated to the city of Istanbul in the1990s, where he completed his education. Bayrak’s family is said to be one of the strongest in the country, as he is the leader of the Mutki Tribe- one of the largest families in the entire country.

Muhsin Bayrak is the chairman of AB Group Holding and has experience in the investment of construction, energy, tourism, and cryptocurrency. The AB Group is home to over 10,000 employees and a crypto subsidiary names as ABStocks which has an investment of £3 million.

Net Worth and Bayrak’s bid for the club

Bayrak is also known to be a friend of Roman Abramovich. However, due to his discreet social presence, Bayrak’s net worth is unverified. Some reports suggest that the potential Chelsea owner has a net worth of a whopping £8 billion. But still, the figure is neither checked nor confirmed. Muhsin Bayrak has not disclosed the exact details of his bid for Chelsea. Roman Abramovich has set the price tag at £4 billion, but given the situation, it is highly unlikely that the Turkish billionaire shells out the amount.

Others in-line to buy the club

While there is no confirmation on a deal with Bayrak, many interested parties have come forward to business with Abramovich. Swiss billionaire Hansjorg Wyss has openly expressed his wish to take over the ownership of Chelsea. Wyss is yet to present an official bid but has suggested that it won’t be around £4 billion. Moreover, Wyss has also confirmed that he plans to go in for the takeover as part of a consortium. Todd Boehly is the man reportedly joining hands with Wyss to make an offer.

Sir Jim Ratcliffe is also speculated to compete with Muhsin Bayrak and others in the Chelsea sale, per 90min. Sir Ratcliffe is a British billionaire based in Monaco. With a net worth of over £10 billion, Sir Ratcliffe is the richest man in Great Britain. UFC star Conor McGregor has surprisingly expressed his wish to buy Chelsea too. The MMA fighter posted “I wish to explore this” on his official Twitter account along with a post that discussed the Chelsea takeover. However, if McGregor seriously wants to ‘explore’ this, he too would have to join a consortium as his net worth amount to £135 million.

All the fiasco which led to Chelsea’s sale

Since taking over in 2003, Abramovich never expressed his wish to sell Chelsea. However, the Russian is being forced into this sale due to an invasion of Ukraine by Russia. Britain has already imposed heavy sanctions on Russia and their President for the invasion. Now Britain is lining-up sanctions on the Russian oligarchs. Roman Abramovich happens to be one of the oligarchs of President Vladimir Putin and could face the sanctions.

To avoid a situation where his beloved club suffers too because of him, Abramovich announced that he is leaving the ownership. But the outgoing owner has pledged the net proceeds of the deal to a charitable foundation for the welfare of the victims of the invasion in Ukraine.

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