Chelsea’s worst fears have come true, Roman Abramovich has been sanctioned by the Uk, it was thought that potentially this was on the horizon but wouldn’t happen before the May 15th deadline Roman set to selling the club.
This LIVE Update Blog gives you the chance to follow all the latest news regarding the Sale Process of Chelsea Football Club.
We have decided to end this blog now with the information we posted yesterday that Raine have shortlisted 4 bidders, we thank you for following Along and an updated piece on the winner will be posted in due course.
FRIDAY 25TH March :
Chelsea’s board including Bruce Buck and Marina Granovskia will decide the new Chelsea owner.
@NizaarKinsella ( 7:21PM )
Just an update, it looks like the final shortlist isn’t 100% official despite claims from The Athletic.
Final Shortlist by Raine :
– The Ricketts
– Stephen Pagliuca
– Todd Boehly’s consortium
– Sir Martin Broughton
@TheAthleticUK ( 7:05PM )
The South Korean group have parted ways with Nick Candy.
@TariqPanja 4:50PM
Shortlisted bidders have been told the deal could be done by next month, in the next stage, there should be an opportunity to meet key officers, including first team manager Thomas Tuchel.
Insiders estimate the deal will be between £2.5BN – £2.75BN.
@Lawton_Times ( 1:51PM )
The CST has released the following statement over The Ricketts Family. ( 1:30PM )
THURSDAY 24TH MARCH 2022 :
What happened today? ( Updated Live )
– The Ricketts and Todd Boehly’s group have made the shortlist.
– Saudi Media are OUT of the race because of the fact they are regarded as a party that can not do a quick takeover.
– Bidders who did not make it are starting to be informed, Woody Johnson, Muhsin Bayrak and Aethel partners are all confirmed OUT.
– Boehly held talks with senior members of Chelsea’s hierarchy over his vision
– Nick Candy is OUT.
WEDNESDAY 23RD MARCH 2022 :
Matt Law Update
– Ricketts backlash from fans on social media is hurting bid but still likely to make shortlist
– Todd Boehly expected to make shortlist
– Final shortlist announcement expected soon
( 9:51PM )
Raine is expected to decide on a shortlist within hours, they have now asked for binding commitments over future spending on the club to make sure they pick the right owner.
@MarkKleinmanSky ( 7:05PM )
Bidders have been told they will find out today if they made the shortlist.
Catalina Kim ( Part of Nick Candy bid ) 1:56PM
There’s no guarantee that The Ricketts will even make the shortlist, with Raine Group yet to decide who will make it.
@Reuters ( 11:40AM )
US based bidders are expected to be preferred by Raine Group.
@NizaarKinsella ( 8:50AM )
TUESDAY 22ND MARCH 2022 :
The Ricketts remain firm in their belief that they will be successful in their bid.
@JacobSteinberg ( 8:12PM )
The Ricketts are aware of the #NoToRicketts campaign on Twitter, the fallout could be damaging to the bid, with only fine mar gains likely to seperate the shortlisted bidders, who are also likely to include Boehly’s consortium and 1 other group.
@Matt_Law_DT ( 6:30PM )
Roman Abramovich wants Chelsea FC to go to a group or individual with a proven track record, a vision for the club and easy access to funds.
A bid from Saudi Media is NOT considered to be among the front runners.
@TheAthleticUK ( 3:02PM )
Journalists and Bidders are still awaiting communication from Raine.
@Matt_Law_DT ( 3:02PM )
Bruce Buck has had input in the procedure and The Ricketts are confident due to due diligence and the fact they already have a strong relationship with Raine Group.
@JacobsBen 12:32Pm
Sir Martin Broughton, a bidder for Chelsea, has revealed the preferred bidders will be chosen by Bruce Buck and directors Marina Granovskia and Eugene Tenenbaum, with Raine conducting the process.
Matt Lawton – The Times ( 8:50 AM )
MONDAY 21ST March 2022 :
🚨 Impression is that the best bid overall will win and one with a sporting background will be favoured by Raine.
Boehly and Ricketts tick that box & have a bit of an advantage from doing due diligence when interested before.
@SJohnsonSport ( 10:47PM
Growing confidence that The Ricketts will be shortlisted.
@JamesRobsonES ( 8:10PM )
Raine have spent today cutting down the bidders to 2 or 3, investors waited anxiously on monday.
@Matt_Law_DT ( 6:48PM )
Sky News Update from Mark Kleinman
– Nick Candy increases his bid significantly after backing from South Korea
– Sale to a gulf state unlikely
– Larry Tenenbaum submitted an offer to his partner.
More Detail on Why a Saudi Takeover looks exceedingly unlikely :
Saudi’s sovereign wealth fund already owns Newcastle United FC, and senior figures in English football have discussed the scenario that SMG could be a front for the country’s government, complicating the North East club’s ownership and ultimately forcing its disposal. Reports have quoted sources close to the SMG bid for Chelsea as saying it has “no direct links” to the Saudi government, while the Saudi Public Investment Fund was determined by the Premier League last year not to be under state control. Nevertheless, one club executive said a Saudi takeover would present “a nightmare” for the top flight at a time when the ownership and governance of its clubs are under unprecedented scrutiny.
There’s a feeling around the process that a USA Consortium will eventually win.
@NizaarKinsella 2:03PM
Raine will narrow down the shortlist to 3 or 4 bidders, sources tell Reuters.
@Reuters 11:58AM
SUNDAY 20TH MARCH 2022 :
Todd Boehly’s consortium have improved their original bid of close to £2.5BN.
@TheTimes 11:50PM
Todd Boehly’s group and The Ricketts are still the favourites for Chelsea.
( @Matt_Law_DT ) 6:40PM
“ Half a dozen or so “ bids were officially lodged with Raine Group.
Raine have expressed optimism that a deal could be in place by the end of this month, in the next few days, we should hear more on who has made it through to the next stage.
( @David_Ornstein ) 3:54PM
SATURDAY 19TH MARCH 2022
Todd Boehly’s group are emerging as favourites, he has enlisted Behdad Eghbali from ClearLake Capital, sources say they would NOT try and revive the ESL at Chelsea, as they understand how it’s seen to fans.
@draper_rob @mailsport 10:57PM
Saudi Media DID submit their bid, in fact, it was 1 hour before the deadline so they didn’t create a media storm!
@NizaarKinsella ( 3PM )
Todd Boehly had already submitted a bid between £2-2.5BN however late last night, he improved his bid even more.
@Matt_Law_DT ( 1:11PM )
The Athletic heard a rumour of a potential bid from a man with access to one of the greatest personal fortunes on the planet.
@TheAthletic ( 10:40AM )
Todd Boehly’s consortium and The Ricketts are ranked as front runners, although many Chelsea fans are cheering on Saudi Media Group, prior to Friday they had not submitted an offer and was finding it hard to find other Saudi backers.
@TheAthleticUK ( 10:38AM )
FRIDAY 18TH MARCH :
DEADLINE FOR BIDS OVER
9PM
Nick Candy has joined C&P sports group and HANA Financial in a bid to join Chelsea.
@NickPurewal ( 8:30Pm )
The Ricketts and Ken Griffin have put their bid in, it’s official.
@Matt_Law_DT and @SjohnsonSport ( 8PM )
South Korean’s HANA financial are joining Nick Candy’s takeover bid.
@SkyNews 6:50PM
Saudi Media’s bid will be sent to Raine before the deadline, its being finalised and there was no issues in the process.
@NizaarKinsella ( 6:15PM )
Ex Chelsea man Tal Haim is brokering a deal for a Gulf based billionaire, 2BN bid and £500m extra in funds.
@TalkSport Exclusive. 5:29PM
Exclusive : Clearlake Capital have joined up with Todd Boehly’s consortium, they would add long term financial backing for Chelsea, the women’s team and redevelopment of the bridge.
@SkyNews ( 3:05PM )
Breaking : C&P sports group and Hana Financial group are bidding, Hana are based in South Korea and are headed by a woman football agent.
@JacobSteinberg
THURSDAY 17TH MARCH 2022 :
Saudi Media’s bid of 2.7BN was one of the first to be lodged and is expected to be the highest.
@SamiMokbel81_DM ( 10:50 PM )
SportsMail understands members of Chelsea’s Muslim contingent, that includes N’Golo Kante, Antonio Rudiger, Hakim Ziyech and Malang Sarr, would feel uncomfortable should the Ricketts family become owners of Chelsea FC.
@SamiMokbel81_DM @MailSport ( 10:45 PM )
Raine will cut it down to no more than 3 preferred bidders by early next week, according to sources close to the sale process.
( Times ) ( 9:04Pm )
At least one bidder has matched Roman Abramovich’s £3BN valuation.
( Times ) ( 9PM )
There’s thought to be around 27 parties for Raine to consider so far. ( 3:55PM )
@NizaarKinsella
Anthel Partners, an investment firm from London, have put in a £2Bn+ Offer for Chelsea, would offer £50m to cover financial issues and back Tuchel.
@Matt_Law_DT 3:16PM
Bids deadline set at 9pm on Friday, it’s possible Raine will take up to 3 bids forward to be green lighted before deciding on a winner.
@Matt_Law_DT
Well placed sources insist that the ongoing success of Chelsea is key to their plans with continued investment into the team, Abramovich made it clear to Raine he wanted any new buyer to be able to Continue his work after transforming Chelsea into a global superpower team over 19 years.
@JamesRobsonES ( 1:50PM )
Nick Candy’s meeting with Bruce Buck and Marina was about his bid, what he wants to do at Chelsea, getting the fans involved, he said all the right things even though he has less money than other bidders.
@NizaarKinsella ( 1:13PM )
Chelsea’s sale could move quickly after Friday, by next week, there could be a shortlist of 3 bids.
@NickPurewal @Independant ( 12:30PM )
WEDNESDAY 16TH MARCH 2022 :
The Ricketts Family have submitted a bid of well in excess of $3BN and have a working relationship with Raine Group, there plans are to maintain on the pitch and modernise off it. Saudi Media have bid a total of $3.5BN
@JacobsBen 7:45 PM
The Saudi Media Group is compiling an offer.
@NickPurewal ( 4:49PM )
Oaktree Capital Management is preparing an offer for Chelsea Football Club.
Financial Times ( 4:35PM )
The fact that the Ricketts Family and Raine already work so closely together could well result in accusations of a conflict of interest existing within the bidding process.
@Matt_Law_DT ( 4:06PM )
One serious stumbling block for the Ricketts – Griffin bid could be a controversy that Joe Rickets was involved in in 2019.
The 80 year old was forced to apologise to emails he sent in which he said “ Muslims are naturally my ( our enemy )
@Matt_LAW_DT ( 3:58PM )
Exclusive : Bidders with sports ownership experience will be preferred in the race to buy Chelsea.
@JamesRobsonES
“ I’m told Saudi Media will have a bid for Raine to consider ahead of Fridays deadline “
@NizaarKinsella ( 1:16 PM )
Ken Griffin has joined up with the Rickets family to make an offer for Chelsea.
@Matt_Law_DT ( 1:20PM )
TUESDAY 15TH MARCH :
Multiple sources say that Todd Boehly’s US – Swiss consortium is not concerned about the Saudi Bid, their motto is to sit back and wait, they don’t expect a deal to be done this week.
@Nicola_Imfield ( 8:37pm )
Exclusive : UK government will NOT decide who buys Chelsea, Raine Group who are acting on behalf of Roman Abramovich will chose the preferred bidder after the Friday Deadline.
Football_LDN ( 6:46PM )
There remains the lingering suspicion that the next owner of Chelsea Football Club is yet to be mentioned.
@JamesRobsonES ( 3PM )
MONDAY 14TH MARCH:
Nick Candy held a meeting with Marina and Bruce Buck on Sunday.
@NizaarKinsella 11:57PM
A Saudi led consortium is making a move however Nick Candy is prepared to pay £2.5BN which is seen as the benchmark price.
@JamesRobsonES ( 11:36PM )
Potential buyers have been advised that a cash offer and being the highest bidder will be crucial, other well placed sources insist that anyone / consortium who can preserve employment and fulfil Chelsea’s existing financial obligations will be a key factor.
@SamiMokbel81_DM ( 9:31 PM )
Buyers have been advised to submit their motivations to buy Chelsea alongside a detailed background report on the investors.
@Sami_Mokebel81_DM ( 9:30PM )
Update from Jacob Steinberg :
– Bidders have now been allowed access to the latest set of club accounts and the wage bill
– Boehly – Wyss – Goldstein bid is in, region of £2Bn and they are now waiting
– One source tells the Guardian that a deal for Saudi Media remains a long way off
( 8PM )
Exclusive: Tilman Fertitta, owner of the Houston Rockets NBA team, is the latest American sports billionaire to show an interest in bidding for Chelsea ahead of a deadline for offers this week. It remains unclear if he will submit an offer.
( @MarkKleinmanSky ) 7:03PM
There’s a feeling that Turki Al-Sheikh might be involved if the bid is accepted ( Close MBS Advisor ) currently its being denied but if it progresses then it’s the time of name which raises questions about government influence.
( @JacobsBen ) 4:03PM
Any individual or group who cannot offer legal guarantees will be dismissed from the process and copies of bank statements will not be enough. Those trying to buy Chelsea have been given access to the Club’s last set of accounts and their enormous wage bill to minimize the chance of the winning bidder stalling on a deal or pulling out. Quickly picking through any Saudi-based consortium is rated by those close to the Chelsea sale as being extremely difficult.
( Matt Law ) 4:55PM
Parties interested in bidding for Chelsea before Friday’s deadline have been advised to submit a detailed background report on all investors amid the growing concerns over appropriate club ownership. Those intent on making an offer for Chelsea ahead of the March 18 cut off are also being asked to file details of their motives for the club moving forward as they enter the official bidding process.
(Sami Mokbel ) 4PM
SUNDAY 13TH MARCH 2022 :
A Saudi Media Group have made a £2.7bn ($3.5bn) offer to buy Chelsea. Mohamed Alkhereiji is a Chelsea fan and leading a private consortium.
Mohamed Alkhereiji has lived in the UK, Chelsea are his PL club and his kids are big supporters too. He wants #CFC to keep winning, build a new stadium & re-sign Rudiger. They will also review Three’s sponsorship, as a powerhouse of Middle East advertising.
( Ben Jacobs ) 3PM
SATURDAY 12TH MARCH :
Saudi Media interested in buying Chelsea, the latest developments and information : Want to build on the stadium, make academies in the Middle East, renew Azpilicueta and Rudiger, alongside changing how the perception of women’s sport is viewed. The company is owned by a Chelsea fan! The full article and information can be viewed on goal.com by Nizaar Kinsella.
Nizaar Kinsella. ( 3:10PM )
Raine Bank are back working with the government and the new deadline for bids is next Friday, 18th March.
( Nizaar Kinsella ) – 11AM
FRIDAY 11TH MARCH :
Nick Candy will be at Stamford bridge on Sunday.
( Matt Law ) 9:39PM
EXCL : Abramovich confirms they can go ahead with Chelsea sale, new deadline for bids is end of next week.
( Matt Law ) 9:30PM
Chelsea are unable to buy fuel for the team bus as things stand, as the credit cards are temporarily frozen.
( @TheAthleticUK ) – 6:37PM
Nick Candy’s proposal includes a expensive redevelopment of Stamford bridge and is working on finding investors.
( @JacobSteinberg ) – 4:33PM
Todd Boehly’s consortium and Nick Candy are seen as serious buyers by the UK Government, the situation is described as urgent by Chelsea. Boehly is joined by an un-named 3rd businessman.
( @JacobSteinberg ) – 4:30PM
It’s Understood that Boehly has been approached by several wealthy associates to offer extra investment. A source close to Boehly back in 2019 said that if he gets his hands on a English team he would do it to win.
( @Matt_Law_DT @TeleFootball ) – 12:50PM
THURSDAY 10TH MARCH 2022 :
Roman Abramovich’s sale is set to spark a 3 way shootout between 3 American parties, Todd boehlys consortium bid is still on the table, its valued at around 2-2.5BN, the report goes onto state that insiders have realised under the current state Chelsea could not realistically operate more than 2 months.
( Matt Law ) – 6:10PM
Muhsin Bayrak says that a deal was close between Chelsea and him and that he’s in a bad mood now, he also blames the Uk for the sanctions imposed on Abramovich and calls him a “ good guy “
( Oda TV ) – 3:15pm
UK government have confirmed that a sale of Chelsea is still possible but not under the current license imposed on the club, Chelsea will have to apply for a new license, sale proceeds cannot go to Roman Abramovich.
( 2pm )
Saudi Media Group are still in the mix to buy Chelsea according to @NizaarKinsella, he states there are 2 potential buyers still interested and haven’t been deterred from the news surrounding Roman Abramovich.
Nizaar Kinsella
