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Chelsea bidders shortlist to be narrowed down to three, new offers made

MANCHESTER: Raine Group, a US financial institution overseeing the sale of Premier League membership Chelsea, plans to slender down the shortlist of bidders to a few on Monday or Tuesday, sources near the deal informed Reuters.

Chelsea have been initially put up on the market by proprietor Roman Abramovich following Russia’s invasion of Ukraine and earlier than sanctions have been imposed on the oligarch by the British authorities, successfully giving it management of the membership.

Raine set a deadline of 2100 GMT final Friday for bids to be made, with a number of being made public, whereas sources near the deal stated many extra had been submitted privately.

Some are solely simply being made public now, with London-based world funding agency Centricus confirming on Monday that that they had provided to purchase Chelsea, a bid pushed by co-founder Nizar Al-Bassam and CEO Garth Ritchie, who’re each stated to be Blues season ticket holders.

Reports within the British media have named a number of different bidders, together with Saudi Media, headed by businessman Mohamed Alkhereiji.

To transfer issues ahead, Reuters has been informed that Raine, in session with the membership, will slender down the shortlist, with the method slowed by revised bids nonetheless coming in.

Over the subsequent few weeks, a most well-liked purchaser or consumers will likely be submitted to the federal government who should problem a particular licence for any sale and who require proof that Abramovich won’t make any monetary achieve.

From there, it is going to be as much as the potential purchaser to cross the Premier League’s Owners’ and Directors’ Test earlier than finishing their takeover.

The check outlines components that will prohibit a person from changing into an proprietor or director of a membership. These embrace felony convictions for a variety of offences, a ban by a sporting or skilled physique and breaches of sure key soccer rules, comparable to match-fixing.

The three bids made public on Friday have been from teams led by British property developer Nick Candy, Chicago Cubs house owners the Ricketts household and the pairing of former Liverpool chairman Martin Broughton and World Athletics President Sebastian Coe.

Candy’s bid, whereas not assured of being on the shortlist, introduced on Monday that that they had held preliminary discussions with tech platform PrimaryBid, with a view to probably contemplating a neighborhood enfranchisement mannequin for Chelsea, ought to their bid achieve success, centered on bettering fan involvement and engagement.

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