|
|
Post by rugbytoffee on Apr 14, 2022 9:53:15 GMT
All four shortlisted consortiums looking to buy Chelsea say their bids will be entirely funded by cash and that they will not load debt on to the club.
Steve Pagliuca's bid for the Blues will match the other three competing offers in having no debt, a source close to the Boston Celtics co-owner's consortium confirmed.
'We have been consistent throughout that this will be a credible and compelling bid,' said a source close to Pagliuca's bid team.
The four shortlisted consortiums must submit their final offers today to the Raine Group.
The New York merchant bank will then select a preferred bidder, with Chelsea's sale still expected to be completed in May.
The Stamford Bridge club's sale could yet reach a sports franchise record £3billion.
Pagliuca confirmed the make-up of his consortium on Wednesday, with NBA chairman Larry Tanenbaum as co-managing partner.
LA Dodgers part-owner Todd Boehly and British business titan Jonathan Goldstein, Sir Martin Broughton and Lord Sebastian Coe, and the Chicago Cubs-owning Ricketts family are the other competitors to buy the Stamford Bridge outfit.
Russian-Israeli billionaire Roman Abramovich put Chelsea up for sale on March 2, amid Russia's continued invasion of Ukraine.
The 55-year-old was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin.
Chelsea have been granted a special Government licence to continue operating, though under strict terms.
Abramovich cannot profit from Chelsea's sale, but had already vowed to write off the club's £1.5billion debt.
Raine Group's preferred bidder will have to pass Premier League owners' and directors' tests, with the final step the granting of a new Government licence to process the sale
|
|
|
|
Post by rugbytoffee on Apr 21, 2022 13:52:06 GMT
Serena Williams and Sir Lewis Hamilton have reportedly backed a bid to buy Chelsea Football Club from Russian billionaire Roman Abramovich, according to Sky News on Thursday, as the global bidding war to own one of soccer’s most famous clubs intensifies. Williams and Hamilton, two of the sporting world’s biggest and most-decorated stars, have reportedly backed a takeover bid for the club spearheaded by former British Airways and Liverpool FC chairman Sir Martin Broughton, Sky News reported. Seven-time Formula 1 world champion Hamilton and 23-time Grand Slam winner Williams are each set to invest around £10 million ($13.1 million) if Broughton’s bid is successful, the report said. Both stars have experience as investors, building global sports brands and promoting equality in their respective sports, with an insider telling Sky News that Hamilton is “likely to play a formal role in Chelsea's future efforts to promote diversity, equity and inclusion if the bid is successful.” Other investors joining Broughton’s coalition include brewing billionaire Alejandro Santo Domingo, the chair of Houston’s 2026 FIFA World Cup bid John Arnold, the Tsai family of Taiwan—which owns the Taipei Fubon Braves and Fubon Guardians baseball teams—and Canada’s Rogers family, which holds a big interest in the media and telecoms company Rogers Communications. Broughton’s consortium is one of three fighting to acquire the famous club after nearly two decades under Abramovich. The coalition is the only one that is British-led, with the other two bids backed by well-known American investors Todd Boehly, who owns part of the LA Dodgers, and Steve Pagliuca, who co-owns the Boston Celtics. The club is expected to sell for over £2.5 billion ($3.27 billion), though the sale and current management of the club has been complicated by the sanctions levied against Abramovich by the British government for his reported ties to Russian President Vladimir Putin. www.forbes.com/ |
|
|
|
Post by rugbytoffee on Apr 29, 2022 14:07:26 GMT
 Sir Jim Ratcliffe has made a late attempt to buy Chelsea for more than £4 billion. Three bidders have been in contention to buy Chelsea for more than £2.5 billion, with the groups making their final pitches to the US-based merchant bank Raine Group this week. But they now face competition from the British billionaire Ratcliffe, however, who launched a last-gasp bid to buy the Premier League club on Friday morning. Ratcliffe, the owner of Ineos, the petrochemicals giant, held discussions with Chelsea chairman Bruce Buck on Thursday before making his offer. “We put an offer in (Friday) morning,” Ratcliffe told The Times. “We are the only British bid. Our motives are simply to try and create a very fine club in London. We have no profit motive because we make our money in other ways.” Ratcliffe’s £4 billion offer includes a pledge to spend £1.75 billion over the next ten years to develop the club’s stadium, team and infrastructure. This is on top of meeting Raine’s valuation of around £2.5 billion. Ineos added in a statement: “We believe that London should have a club that reflects the stature of the city. One that is held in the same regard as Real Madrid, Barcelona or Bayern Munich. We intend Chelsea to be that club. “We are making this investment as fans of the beautiful game – not as a means to turn a profit. We do that with our core businesses. The club is rooted in its community and its fans. And it is our intention to invest in Chelsea FC for that reason.” Chelsea’s Russian owner Roman Abramovich put Chelsea up for sale shortly before he was sanctioned for his alleged links to Russian president Vladimir Putin following the invasion of Ukraine. On Thursday The Athletic reported that Abramovich asked the three groups bidding to buy the Premier League club to put £500 million more into a foundation he wants to set up for victims of the war in Ukraine. |
|
|
|
Post by rugbytoffee on Apr 29, 2022 19:36:58 GMT
Todd Boehly consortium to be named preferred bidder to buy Premier League club
Chelsea have told the consortium led by Stephen Pagliuca, part-owner of the NBA's Boston Celtics and Serie A's Atalanta, it is not the preferred bidder.
This latest development is a blow to the other remaining group left in the bidding, led by Sir Martin Broughton, the former Liverpool and British Airways chairman, which includes the billionaire Crystal Palace shareholders Dave Blitzer and Josh Harris.
Chelsea hope to have a new owner in place by the end of May.
|
|
|
|
Post by Football News on May 7, 2022 8:40:25 GMT
Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.
Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.
In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.
The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.
Chelsea FC
|
|
