The deadline for selling the club has passed; With four buyers vying for the club, what happens next? After the deadline expired on Thursday night, Chelsea’s new potential owners are moving on to the next round
Thursday was the deadline for the four bids hoping to become Chelsea’s next owners, but it is far from the end of their journey. Chelsea’s four possible new owners had until 10 p.m. BST yesterday to submit their final offers to Raine Group.
The remaining bidders include Stephen Pagliuca, the Ricketts family, and other consortiums led by Todd Boehly and Sir Martin Broughton. Now that the deadline has passed, Raine Group will examine each offer, with a final decision not expected until next month.
The US bank that has been monitoring Chelsea’s sale, according to Football London, will bring the best proposals to the UK government. The Raine Group is expected to make a choice on who is best suited to become Chelsea’s next owner.
The involvement of the UK government in the proceedings is claimed to be only to ensure that Roman Abramovich does not profit financially from the offers. The future owner of Chelsea, however, will have to apply to have the operating license suspension lifted.
Finally, before being confirmed as the club’s new owners, the selected bidder must pass the Premier League’s Owners’ and Directors’ Test. The Blues are trying to make a final choice before the conclusion of the season so Thomas Tuchel knows what to expect in the summer transfer window.
Following Russia’s invasion of Ukraine, Roman Abramovich, who owned Chelsea in 2003, put the club up for sale. The UK government subsequently sanctioned the Russian oligarch and ordered his UK assets to be frozen, which had a direct impact on Chelsea.
The club is effectively operating under a transfer embargo, with no ability to negotiate contract extensions or new contracts with potential targets during the summer transfer season. Tuchel has received pledges of support from all four of Chelsea’s potential new owners in the transfer market
Pagliuca, a co-owner of the Boston Celtics, broke his silence on the Chelsea offer this week, claiming that instead of moving to a new stadium, he plans to rehabilitate Stamford Bridge.
“Not only are we dedicated to staying in Chelsea’s home, Stamford Bridge,” he stated, “but we are also inspired to refurbish or redevelop the stadium.” “Chelsea is a world-class team playing in a world-class city with world-class fans; it deserves a world-class stadium.”
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