CHELSEA

Race for the Chelsea takeover now a battle between two bidders

Chelsea bidders, Six Sports

A lot of rumors are now surrounding the process of the Chelsea takeover. All the interested parties have submitted their bids and are now awaiting the results. Outgoing owner Roman Abramovich has hired merchant bank Raine Group to oversee his club’s sale. New reports have emerged that two bidders are leading the race to buy Chelsea from the outgoing Russian owner.

As soon as Abramovich announced the club’s sale, a number of investors lined up with their bids. Woody Johnson, Todd Boehly, Nick Candy, Lord Coe, and Sir Martin Broughton, Saudi Media Group, Ricketts family all tabled their offers for Chelsea. However, Raine Group are reportedly going to finalize four bidders, among whom one will be the next Chelsea owner. The process has even commenced as Saudi Media Group’s bid was rejected by the Raine Group.

Two bidders emerge as frontrunners to takeover Chelsea

According to the Financial Times, Todd Boehly is one of the leading bidders for the Chelsea takeover. The American businessman has formed a consortium with Swiss billionaire Hansjorg Wyss and Jonathan Goldstein. Moreover, Boehly has also included Barbara Charone and Daniel Finkelstein in his project. Charone is an American PR executive and Finkelstein is the former advisor of the Conservative government and now a Times columnist.

Boehly has bid £2.2 billion and proposed an “all-around offer” for Chelsea. Moreover, among other bidders, Boehly has a history of attempting a Chelsea takeover in the past. The American had approached Abramovich three years ago with an offer for the London club. But the Russian had no intentions of selling his beloved club and rejected the Boehly’s bid. However, it seems Boehly will finally succeed in buying Chelsea from Abramovich.

Lord Coe and Sir Martin Broughton the favourites as well

While Todd Boehly’s consortium is one of the leading candidates, Lord Coe and Sir Martin Broughton are not trailing either. The two bidders are also heading a consortium to buy Chelsea FC. Moreover, Sir Martin Broughton is quite a famous personality in English football. Sir Broughton was Liverpool‘s acting chairman in 2010 to facilitate the Reds’ sale to Fenway Sports Group. Like Boehly, Lord Coe has also support from two more prominent personalities.

Josh Harris and David Blitzer are the ones involved with Chelsea bidders Lord Coe and Sir Broughton’s. Both Harris and Blitzer are American private equity investors. Furthermore, Blitzer has vast experience in the field, being a shareholder of Crystal Palace, FC Augsburg, ADO Den Haag, Waasland-Beveren, and Real Salt Lake. However, this consortium is yet to disclose its bid. But since Lord Coe served as a Conservative MP and later as a member of the House of Lords, he could use his government ties to swing the Chelsea takeover in his favor.

Raine Group continues its rigorous process of selecting the perfect offer by taking multiple aspects into consideration. The Chelsea staff have expressed concerns as well over their continuity with the club after the transition of the ownership. The British government also needs persuasion since they have imposed a lot of sanctions on the club. The next few days are crucial as the next owner of Chelsea Football Club may be announced soon among the current bidders.

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