The saga to sell Chelsea Football Club is getting closer to a conclusion. It might not the be the conclusion Chelsea fans wanted, but it’s a conclusion nonetheless.
According to the Wall Street Journal, the Todd Boehly backed bid is set to enter exclusive talks to purchase Chelsea from Roman Abramovich, who is selling due to his ties with Russia president Vladimir Putin and Putin’s invasion of Ukraine.
The Los Angeles Dodgers co-owner is competing against two other bids that were led by other American team owners. There is the group led by Boston Celtics owner and Bain Capital co-chairman Stephen Pagliuca and a group led by Philadelphia 76ers/New Jersey Devils co-owners Josh Harris and David Blitzer, which includs former Liverpool FC chairman Sir Martin Broughton. According to Matt Law of the Daily Telegraph, those within the Pagliuca and Harris/Blitzer/Broughton bids are accepting that Boehly’s group is the preferred buyer.
No comment from Boehly group, Raine or Chelsea but now strong suggestions that Todd Boehly's group has been chosen as the club's preferred buyer. That's also the view of people inside the Pagliuca and Broughton bids.
— Matt Law (@Matt_Law_DT) April 29, 2022
The total sale is expected to be over $3 billion but there is however a late twist to the situation as Ineos CEO and OGC Nice owner Sir James Ratcliffe made a $4.25 billion bid for Chelsea. While that is expected to be above what the other three were expecting to bid, those three also submitted bids before the deadline so it depends whether or not the Raine Group follows through on their deadlines if Ratcliffe has a shot to swoop in for the club.
[Wall Street Journal/Photo: Reuters]