The race to purchase Chelsea is on: We take a look at the well-known runners and bidders ahead of Friday’s deadline for proposals to acquire the club from Roman Abramovich.
The Saudi Media Media Consortium
Saudi Media is characterized as “a media representation as well as a sports and event marketing organization” on the website of its parent company, Engineer Holding Group. Mohamed Alkhereiji, another Chelsea supporter, is the CEO of Engineer, which was founded by his father, Abdulelah.
Saudi Media has no direct connections to the Saudi government, according to sources responding to inquiries about a prospective Premier League owners’ and directors’ test.
“Saudi Arabia is an essential partner of the UK in investment, intelligence, and culture,” UK sports minister Nigel Huddlestone said last week. Saudi Arabian investment is welcomed.”
Nick Candy and Partners
Another Chelsea supporter who wants to acquire the club is the British property mogul. He’s accepted the need to collaborate with other investors, and sources say he’s been approached by many and has the means to bid.
Candy said last week that he would not work with Boehly, Wyss, or Goldstein because he “did not want a longtime Spurs fan as part of the future ownership of Chelsea,” according to a spokeswoman. Candy, a Conservative party contributor, and property developer has claimed he will appoint a supporter to the board, and his ambitions include a costly renovation of Stamford Bridge.
He has engaged the help of Tifosy, a sports advice and financing solutions organization co-founded by Gianluca Vialli, a former Chelsea player and manager.
Ricketts family and Ken Griffin
The Chicago Cubs’ Ricketts family has teamed up with hedge fund mogul Ken Griffin, who Forbes estimates is worth $26.5 billion (£20.2 billion). Griffin is the founder and CEO of Citadel Asset Management, yet he works for himself.
The Ricketts family made an effort to acquire Chelsea in 2018 and declared on Wednesday that they will bid on Friday. They feel that their World Series victory with the Cubs in 2016 and the substantial restoration of Wrigley Field, the team’s historic home, demonstrate that they would be worthy owners of the Premier League club, whose Stamford Bridge stadium could be restored.
Hansjörg Wyss, a Swiss millionaire, was the first to speak out about Roman Abramovich’s desire to sell the club and express an interest in purchasing it.
Todd Boehly, an American who owns a portion of the Los Angeles Dodgers, and Jonathan Goldstein, the CEO of Cain International and a Tottenham supporter, are among his investors.
They made an offer of £2 billion to £2.5 billion a few days ago, certain of winning the battle to acquire Chelsea, but the situation has been complicated by the arrival of additional bidders.
Boehly has recruited Times columnist and Conservative peer Daniel Finkelstein and PR executive Barbara Charone to the partnership after being rejected by Abramovich when he made an approach for the club in 2019.
Martin Broughton, the former chairman of British Airways, is going to lead a bid, with Sebastian Coe’s backing and financial backing from Creative Artists Agency, which owns the football agency Base, and Evolution Media Capital.
If this offer is accepted, Broughton, a Chelsea fan, would be appointed to the board of directors, and Coe, the World Athletics president, and another Chelsea fan will be appointed to the board of directors. Coe is a former Conservative MP who worked closely with Boris Johnson during the 2012 London Olympics as mayor of London.
Although the transaction is being managed by the US bank Raine, the UK government must approve Chelsea’s sale after placing fines on Abramovich.
Since January 2000, the owner of the NFL’s New York Jets has had a great interest in Chelsea and a link to London. In 2017, Donald Trump chose him as the US ambassador to the United Kingdom, and he quickly denied suggesting that his country might acquire the NHS.
During his time in that position, Johnson is reported to have acquired or increased his love for football, particularly Chelsea. He is the heir to the Johnson & Johnson pharmaceutical company, and he is worth a billion dollars. The Jets haven’t made the playoffs in 11 years, which is the NFL’s longest current drought.
Other Potential buyers
Raine has received attention from as many as 200 entities, indicating that bids from other sources are imminent. Muhsin Bayrak, a Turkish businessman, is alleged to have made a proposal a little under a fortnight ago, according to a spokesperson.
Sanctions have been imposed on Abramovich since then, and Bayrak has stated that he would present a new offer that reflects the altered circumstances. Crystal Palace co-owner Josh Harris has been connected with a bid. Any seizure by the Americans would necessitate his departure from the Palace.
So, what’s next?
Raine will evaluate the offers and select its top prospects. The bank is optimistic that a transaction will be completed by the end of the month, with time being of importance because Chelsea is functioning under a special license as a result of Abramovich’s penalties.
“I think the shortest [selling] we have ever done is 10 days,” Premier League chief executive Richard Masters said earlier this month. That isn’t to say the record can’t be broken, but it usually takes a few weeks.”