Chelsea’s shortlisted bidders have been given until April 11 to make their final offers.

New York merchant bank the Raine Group has set that deadline for final bids with the view of Chelsea having new owners by May, per PA News Agency.

These improved bids will be required to include a commitment to spend at least £1billion in the future.

Chelsea have asked the Raine Group to include this stipulation to ensure they remain in England’s football elite.

The shortlist comprises of four bids, with Boston Celtics co-owner Stephen Pagliuca the last to be added on Friday.

It also includes Chicago Cubs owners the Ricketts family, former Liverpool chairman Sir Martin Broughton and LA Dodgers part-owner Todd Boehly.