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Many offers to buy Chelsea lodged prior to official deadline

Many offers to buy Chelsea lodged prior to official deadline

There had been up to four confirmed bids made for Chelsea prior to the deadline on Friday, according to widespread reports.

Chelsea has been put up for sale by Roman Abramovich, who has had his assets frozen by both the United Kingdom government and the European Union (EU) in the wake of Russia’s invasion of Ukraine.

Abramovich is said to value the club, which he bought in 2003, at £3 billion.

Investment firm Raine Group is overseeing the process to sell the club, with any funds to be directed to a charitable organisation or into a frozen account.

As the deadline passed, four parties had confirmed they had made bids for the clubs, though it is expected that more bids could be announced or submitted over the course of the weekend.

The new owner of Chelsea will have to be approved by the government as well as pass the usual Premier League checks.

One interested party is a consortium headed by British property developer and Chelsea supporter Nick Candy. A spokesperson for Candy’s Blue Football Consortium said, as reported by BBC Sport: “I can confirm that the two South Korean firms Hana Financial Group and C&P Sports Group are a significant part of Mr. Candy’s global consortium of investors. Their involvement is representative of Chelsea’s global brand and huge loyal fanbase in Asia.” Candy wants to redevelop Stamford Bridge should he be successful in purchasing the club. Former Blues manager Gianluca Vialli is also involved.

The Ricketts family, owners of MLB’s Chicago Cubs and backed by hedge fund entrepreneur Ken Griffin, are another party to have officially made a bid.

Martin Broughton, the ex-Liverpool chairman, and Sebastian Coe, the president of World Athletics, are heading up another consortium that has made a bid. “I am certain Sir Martin is the right man to lead Chelsea Football Club into its next chapter,” Coe said in a statement earlier this week.

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