Chelsea

Chelsea New Owner As Been Announced With The Bid of £3.5bn Plus Deal

Chelsea New Owner As Been Announced With The Bid of £3.5bn Plus Deal

Chelsea New Owner As Been Announced With The Bid of £3.5bn Plus Deal

Todd Boehly’s  wins the race to buy Chelsea as the Raine group makes the final decision

According to the latest reports reaching us, The Todd Boehly consortium has been finally named as the preferred bidder to buy Chelsea, it has been confirmed.

However, Stephen Pagliuca’s group was the first to be informed that they had been removed from the process and their bid had been rejected.

Sir Martin Broughton’s team was also informed they had not been successful amid Sir Jim Ratcliffe’s 11th-hour £4.25 billion bid for Chelsea on Friday morning.

That offer is believed to have been submitted too late, however, with the Boehly consortium understood to have been told that they will be taken forward as the preferred bidder ahead of equally-strong groups fronted by Boston Celtics co-owner Stephen Pagliuca and former Liverpool chairman Sir Martin Broughton.

There has as yet been no official confirmation from Boehly group, Chelsea or Raine as yet, however.

According to Sky News, the Boehly consortium, which also consists of billionaire Hansjorg Wyss, property developer Jonathan Goldstein, and investment firm Clearlake Capital, will soon begin a period of exclusivity to get a deal over the line. That is expected to last several days.

Since Abramovich was sanctioned, Chelsea have been operating under a special licence from the U.K. government, which comes to an end on May 31 – and yesterday, Culture Secretary Nadine Dorries stated that the club, the reigning world champions, was on “borrowed time” to complete the sale.

The Boehly group’s total bid was in excess of £4 billion, report The Athletic. And that includes £1.5 billion to develop the club and Stamford Bridge in addition to meeting Raine’s valuation of the Premier League side, which was set at around £2.5 billion.

See also  Premier League Officially approve Todd Boehly takeover

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