Chelsea: Bidder has time to submit final offer for club | Soccer News Sky News

The last four bidders in Chelsea have spent more time making final bids for the club as the most fiercely contested sports auction in history will be extended.

according to Sky newsThe remaining consortium, Mark Kleinman, was told by an advisor handling the sale on Thursday that he would have to submit a binding takeover offer later next week.

The move to extend the next stage of the auction by a few days after Chelsea beat Real Madrid 3-1 in the first leg of the Champions League quarterfinals, putting the winners of last season at stake, is within 24 hours. It was done in. The contest will end.

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Chelsea beat Real Madrid 3-1 in the first leg of the Champions League quarterfinals

According to sources close to bidders, the final bid deadline has been extended to the second half of the week to provide a complete and fair opportunity to properly finalize bid details.

Sources have informed them that Rain Group, the U.S. investment bank responsible for the sale, is also considering waiting for the Premier League approval of the four consortia before offering priority bidders to the government. He added.

Premier League spotlight offer

After the rest of the consortium submitted details of their major investors to Rain late last week, consideration of four bids by the British football elite has already begun.

The Premier League is expected to take weeks to evaluate people involved in bidding, including a series of US billionaires and supporters of UK establishments, and work to approve all four bidders. Means that the process may need to be extended. ..

One of the bidders, who spoke on condition of anonymity, said he expected the minister to make a final recommendation later than the initial target date for the week starting April 18.

One of the bidders, who spoke anonymously on Thursday, welcomed additional time to complete his offer, given the complexity of the ongoing process for purchasing blues.

Who is running to buy Chelsea?

The bidder’s quartet includes:

  • A consortium led by Sir Martin Broughton, former president of Liverpool and British Airways
  • Another consortium is headed by Todd Boehly, co-owner of the LA Dodgers.
  • Steve Pagliuka, owner of the Boston Celtics and a major investor in Atalanta for the Serie A team
  • And finally, the Chicago Cubs owner, the Ricketts family, in partnership with Cleveland Cavaliers owner Dan Gilbert and hedge fund mogul Ken Griffin.

The remaining four bidders met with Chelsea’s directors, staff and Rain this week in London to compete to end Roman Abramovich’s 19-year term at Stamford Bridge.

They are said to have to legally promise to secure an investment of at least £ 1 billion if they acquire the club’s infrastructure in the coming weeks.

The sales process is complicated by sanctions on Abramovich and the enthusiasm for buying last season’s Champions League winners.

Riquette-led bidding challenges

Chelsea fans protest off-pitch against the possibility of selling the club to the Ricketts family
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Chelsea fans protest off-pitch against the possibility of selling the club to the Ricketts family

Earlier this week, the Ricketts family-led consortium issued a series of pledges to Chelsea fans, including a vow to never participate in the resurrected European Super League project.

Other bidders have reportedly submitted their commitment details to the CSE, but have so far opted to keep them private.

Chelsea’s Ricketts-led bid has faced challenges in recent weeks due to a backlash against historical comments from families not involved in the bid.

On Thursday, Laura Ricketts issued an official statement promising that if the family group wins the auction, Chelsea will “strive to be the champion on and off the pitch.”

A fan-run group led by Terry in a meeting with two bidders

John Terry has won 17 trophies at Chelsea. This includes five Premier League titles and the Champions League.
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John Terry has won 17 trophies at Chelsea. This includes five Premier League titles and the Champions League.

Sky news Also last week, a fan-run group co-founded by former Chelsea captain John Terry held “positive” negotiations with two finalists on a 10% stake. It was revealed that there was.

Among them, the latest bidders also manage or own shares in American teams such as the Boston Celtics, Cubs, LA Dodgers, Philadelphia 76ers, and Sacramento Kings.

By traditional acquisition process standards, Chelsea auctions are proceeding at an alarming rate, with executives from other major investment banks suggesting that such a complex sale usually takes at least six months. ..

Prior to the sanctions, Abramovic said he would amortize the £ 1.5 billion loan to the club and donate its net income to a new charity to set up for the benefit of the victims of the war in Ukraine. rice field.

Quick sale considered essential for Chelsea

Thomas Tuchel says his focus is entirely on Southampton
Photo:
Thomas Tuchel’s team lost two games in a row in every tournament.

Prompt sales are considered essential to avoid the uncertainty that causes Chelsea to disband the elite’s most valuable team of players.

The current FIFA Club World Cup winner is upset by the war between Russia and Ukraine, and Abramovich initially offered to hand over the club to his foundation and then officially put it up for sale.

Abramovic initially imposed a £ 3 billion price tag on the club and the net income was donated to a charity established to benefit the victims of the war in Ukraine.

In addition to government consent in the form of a special license, new Chelsea owners will also need approval from the Premier League as part of their ownership testing.

No bidder was contacted Sky news Also, Rain did not comment on the changed schedule.