Saudi investor Amr Zedan: The horse racing billionaire and venture entrepreneur are thought to be driving a bid to acquire the Blues from Roman Abramovich.
Amr Zedan, a Saudi investor born in Los Angeles, is the latest person to make an offer to acquire Chelsea, according to GOAL.
The 47-year-old is the chairman of Zedan Group, a Saudi Arabian firm having interests in energy and petrochemicals, as well as horse racing through Zedan Racing Stables.
He is understood to have sought more funding after the deadline passed, like other bidders, and is deemed to have a slim chance of winning. This is true even when his ties to Jordan’s royal family, as a result of his marriage to Princess Noor Bint Asem, are taken into account.
Amr Zedan’s worth
Saudi investor Amr Zedan’s net worth is estimated at $400 million
Who will be the new Chelsea owners, and when will they be chosen?
Chelsea’s board of directors will eventually select who will be the new owners, although they are being advised by Raine Group, a New York investment bank that was first chosen by sanctioned owner Roman Abramovich.
Raine Group has fallen behind in its efforts to narrow down prospective future owners to a small group of “preferred bidders.”
They are, however, seeking to complete a procedure that normally takes several months in less than a week, with additional checks on every component of any consortium to be completed in the following step.
The Blues had intended to find a new owner by the end of March, but that now appears unlikely, since the process is expected to go on.
It comes amid worries that Chelsea’s sports team is being distracted by the ownership problem, as well as concerns over cash flow.
The UK government is participating in the process but will not interfere with decision-making, with the goal of ensuring that none of the proceeds from the Chelsea takeover process end up in the hands of owner Roman Abramovich.
Who else is in the race to buy Chelsea?
Several notable buyers are seeking to purchase Chelsea, including the Ricketts family, who owns the Chicago Cubs.
Woody Johnson, the owner of the New York Jets, is said to have made a £2 billion ($2.6 billion) bid. Todd Boehly’s group, which owns the Los Angeles Dodgers and is backed by Swiss billionaire Hansjorg Wyss and Englishman Jonathan Goldstein, is also a contender.
Saudi Media has also submitted a competitive offer, which was originally published by GOAL, and aims to advance to the next round.
Nick Candy, backed by a Catalina Kim-led South Korean group, has made an offer for up to a £1 billion interest in the west Londoners from the United Kingdom.
Candy’s proposal is being backed by former Blues striker Gianluca Vialli’s business Tifosy Capital and Advisory, with AC Milan investors Elliott Management also thought to be involved.
Another English attempt is being led by Sir Martin Broughton, who has recruited Lord Sebastian Coe, a Conservative Party MP.
Josh Harris and David Blitzer, Crystal Palace’s American co-owners, are believed to be behind them, which might complicate the procedure.
Centricus, a London-based global investment business, has also revealed their £3 billion ($4 billion) bid for Chelsea.
Chelsea has eight known possibilities to consider as they are near the end of this round of their new owner selection process.