Chelsea’s four potential new owners have been given a deadline to submit their final bids to buy the Premier League club, which must include details of the Stamford Bridge redevelopment
(Image: Craig Mercer/MB Media/Getty Images)
Chelsea’s four potential buyers were given until April 11 to place their final bids.
US brokerage firm Raine has identified four preferred bidders for the final process, who now have just two weeks to submit their detailed bids. They have all been told they must commit to £1billion in future spending and campaign for a Stamford Bridge stadium refurbishment.
Boston Celtics co-owner Stephen Pagliuca, 67, was the surprise last name to join interested parties on Friday as the US billionaire, co-chairman of Bain Capital, made his initial bid.
The Chicago Cubs own the former Ricketts family Liverpool Chairman Sir Martin Broughton and LA Dodgers partner Todd Boehly are the other bidders still in the running. They have all made their first bids for a very quick sale as Russian owner Roman Abramovich has been sanctioned by the government Russia ‘s invasion of Ukraine.
However, they are given the opportunity to submit enhanced bids and provide more details on stadium development, which is seen as a key factor in any successful bid. Stamford Bridge has a capacity of 40,000 and even Abramovich with his wealth was unable to solve the stadium problem which was seen as a major stumbling block in any sale as ownership was given to the Chelsea Pitch owners to protect the site from developers.
However, all four are yet to clarify their plans for a new stadium development, with Abramovich reportedly valuing the club at around £3bn and he has also publicly said he would write off £1.5bn that Chelsea owe him. US tycoon Boehly’s consortium were seen as early favorites but face stiff competition from Broughton’s group, which includes Chelsea fan and sports pundit Sebastian Coe, and their bid is likely to garner support from within.
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The Ricketts family – backed by US tycoon Ken Griffin – faced major obstacles after Joe Ricketts allegedly made racist remarks in 2012, in which he allegedly said Muslims were “of course my enemies”. Representatives of her bid have met with the Chelsea Supporters’ Trust but they say despite attempts to reassure them they are still not satisfied.
“My family and I are extremely grateful to all the fans and support groups who took the time to meet with us this week and share their passion and concern for Chelsea Football Club. It’s clear you only have the best interests of the club at heart,” Tom Ricketts said last week. The Ricketts family oversaw an £800,000 redevelopment of the Cubs’ legendary home stadium, Wrigley Field, and would have been an ideal candidate but are now having to overcome fans’ concerns.
Government leaders must issue a license for the sale to proceed, but the April 11 deadline means the club is still on track to be sold by the end of next month, in what would be a remarkably quick transaction given all the troubles.
https://www.mirror.co.uk/sport/football/news/chelsea-stamford-bridge-final-bids-26568303 Chelsea's prospective buyers are set to submit Stamford Bridge plans as new deadline