Nammude Clubinte Baavi enthaakumo entho?
Ini Chelsea ye ithupole kanan pattumo?![]()
![]()
![]()
CHELSEA and TUCHEL completed the TRIPLE
UEFA CHAMPIONS LEAGUE
UEFA SUPER CUP
FIFA CLUB WORLD CUP
Nammude Clubinte Baavi enthaakumo entho?
Ini Chelsea ye ithupole kanan pattumo?![]()
![]()
![]()
Chelsea owner Roman Abramovich received sanctions from the UK government on Thursday following Russia's invasion of Ukraine and his close ties to Vladimir Putin.
Abramovich has had his assets frozen and he will not be able to sell the club without approval from the government - the ownership of Chelsea can now only be changed if the oligarch does not profit from it.
Chelsea will still be able to operate under the terms of a special licence, allowing the Blues to complete their remaining games this season.
However, they are not allowed to make any further ticket sales (season ticket holders are still able to attend home matches, and all home and away tickets purchased before Thursday's sanctions remain valid), they are effectively under a transfer embargo, and there is now a set limit on operating costs per game.
Chelsea must not exceed staging costs of £500,000 per home game, while away game travel costs have been capped at £20,000.
Saudi Media Group reportedly make £2.7bn Chelsea offer
Mohamed Alkhereiji, the owner of Saudi Media Group, is a Chelsea fan and is reported to be leading a private consortium to buy the club
The biggest media group in the Middle East, Saudi Media, are rumoured to have made an offer of approximately $3.5billion (£2.7billion) to buy Chelsea Football Club. Mohamed Alkhereiji, the owner of the company, is a Chelsea fan and is reported to be leading a private consortium to buy the club.
Alkhereiji is also the CEO of its parent company Engineer Holding Group, which was originally founded by his father Abdulelah Alkhereiji. Blues owner Roman Abramovich was sanctioned by the British government last Thursday, with his assets having to be completely frozen.
But despite this, the sale of Chelsea is now back on track as the government gave the west Londoners the green light to find new owners and unsurprisingly, the Blues are desperate for the whole situation to be resolved as soon as possible.
With regards to Saudi Media's rumoured interest in buying Chelsea, CBS Sports claim that there is support in finding funding and partners (but not financial backing) from Mohammed bin Khalid Al Saud.
Khalid Al Saud is both the president and director of Al Faisaliah Group and has been the chairman of the board of directors of the Saudi Telecom Company since 2018.
He is a family member of the House of Saud (a translation of Al Saud), which compromises of 15,000 members - although the majority of the wealth is held by just 2000 people.
The estimated net worth of the House of Saud is $1.4trillion (£1.075trillion), with the family notoriously known to keep their fortune private.
Chelsea in 2022
Winners - Fifa Club Work Cup
Runner Up - Carabao Cup (Lost to Liverpool in Penalties (11-10)
Semi finals* - FA Cup (Crystal Palace Vs Chelsea) & City Vs Liverpool)
Quarter Finals* - Champions League ( Chelsea Vs Real Mandrid)
Premier League* - 3rd position
Good Run Blues...........
Chelsea: Four contenders given April 11 deadline to submit bids
Bids headed by the Ricketts family, Todd Boehly and Sir Martin Broughton on the shortlist to buy Chelsea; Atalanta co-owner Stephen Pagliuca also on the list with Nick Candy still hoping to be part of the process; final offers to be tabled by April 11
The four contenders vying to buy Chelsea will submit final bids on April 11, paving the way for a prospective new owner to seek government permission to take over from Roman Abramovich by the end of next month.
Sky News has learnt the remaining contenders have been notified by Raine Group, the merchant bank handling the Blues' sale, that binding offers must be made on or around that date - which falls the day before the second leg of a Champions League quarter-final against Real Madrid.
Bidders - who include several US sports franchise-owning billionaires - will have the opportunity to improve their offers from the indicative proposals which saw them make it through to the final stages of one of the most extraordinary corporate auctions of recent times.
The quartet of contenders had been told by Raine on Saturday they must commit at least £1bn to future investment in the club if they are to succeed in the battle to end Abramovich's two-decade tenure.
The additional funding must be made available for the Blues' Stamford Bridge stadium, playing squad and other areas of development.
Sponsored Links
Raine's insistence on the pool of capital for investment is likely to go some way to reassuring supporters its new owner will continue to back it with the kind of significant financial resource they have become accustomed to under the Russian-born businessman.
All four of the remaining bidders have significant experience in sports stadium infrastructure, a key consideration given Chelsea's long-standing dilemma about the expansion of Stamford Bridge, which has a capacity barely half that of Manchester United's Old Trafford home.
Between them, the final bidders either control or own stakes in US teams including the Boston Celtics, the Chicago Cubs, the LA Dodgers, the Philadelphia 76ers and the Sacramento Kings.
Sir Martin Broughton, the former British Airways and Liverpool FC chairman, and Lord Coe, the former British Olympian turned sports administrator and businessman, are fronting a bid that has the financial firepower of Josh Harris and Dave Blitzer, two wealthy American financiers.
That consortium also includes Vivek Ranadive, an Indian-born entrepreneur, and a syndicate of other investors from around the world whose identities are expected to be confirmed in the coming days.
Image: Bids headed by Todd Boehly (L) and Sir Martin Broughton (R) are in the running to buy Chelsea
Another of the leading contenders is headed by Todd Boehly, the LA Dodgers part-owner, and includes Jonathan Goldstein, the London-based property developer, and Clearlake Capital, a US-based investment firm.
A third group comprises the Ricketts family, which owns the Chicago Cubs, and the Citadel hedge fund billionaire Ken Griffin, with the US investment bank Lazard in talks to advise it.
Tom Ricketts, the Cubs chairman, flew to London last week to address concerns raised by fans' groups about Islamophobic remarks made by his father, Joe, a decade ago.
People close to the bid have insisted Joe Ricketts has no involvement in it, and have pointed to the family's successful ownership of the team, having won the World Series for the first time in a century and completed a $1bn (£760m) renovation of its home, Wrigley Field - one of the most historic sports arenas in the US.
The other remaining contender for Chelsea is a bid spearheaded by Stephen Pagliuca, an American private equity billionaire who owns the Boston Celtics and Atalanta in Italy's Serie A.
Share
This is a modal window.
Unsupported location
Sky Sports News' chief reporter Kaveh Solhedkol reveals the potential buyers on Chelsea's shortlist will have access to all of their financial data including player wagesSky News revealed this weekend a so-called 'blank cheque' vehicle set up by one of the world's most powerful media tycoons also tabled a proposal to merge with Chelsea this month.
City sources said Liberty Media Acquisition Corp (LMAC), a New York-listed special purpose acquisition company - or SPAC - was among the parties which was eliminated from the auction, largely because of the complexity of finalising a deal on a timetable which was truncated by Abramovich's sanctioning.
Mr Malone, who has placed huge bets on sports by engineering the takeovers of Formula One motor racing and the Atlanta Braves Major League Baseball team, is said to have lodged a credible offer for Chelsea.
Had it been successful, it would have seen Chelsea join Manchester United as a US-listed company.
Sources said Raine would assess the four bids against a set of criteria including the level of equity and debt funding; price; future investment commitments; speed and certainty of execution; and the claims each party has to being an appropriate steward of a prestigious sporting brand.
Among the bidders who were eliminated from the process this week were offers fronted by the London-based property developer and lifelong Chelsea fan Nick Candy; the former US ambassador to the UK, Woody Johnson; Centricus, an asset manager; and Saudi Media Group, whose bid is said to have been largely debt-financed.
Formal deal to approve transaction expected by the end of next month
Raine is understood to anticipate signing a formal deal and approaching the government for a special licence to approve the transaction by the end of next month.
Bidders and bankers have dismissed suggestions some parties had become frustrated by the pace of the transaction's progress.
The UK Government has announced Chelsea fans can now buy tickets for the club's away matches, cup games and women's fixturesBy the standards of conventional takeover processes, the Chelsea auction has moved at breakneck speed, with executives at other major investment banks suggesting that such a complex sale would typically have taken at least six months.
Abramovich's sanctioning by the UK Government has added further complications to the transaction, as bidders have sought clarity on the legal implications of buying the club.
Sources also pointed out further bidders had continued to emerge even in the last week, requiring Raine to evaluate their seriousness.
Some fan groups have questioned the absence of a wealthy British businessman from the process, although Sir Jim Ratcliffe, the Ineos tycoon who is now based in Monaco, did express an interest before deciding not to lodge a formal offer, according to insiders.
A number of the remaining bidders are expected to make further refinements to the composition of their bids in the next fortnight.
The auction of Chelsea has become the most hotly contested - and potentially the richest - sale of a leading sports franchise in history, with hundreds of parties expressing an initial interest in buying a share of the club or controlling it outright.
Share
This is a modal window.
Unsupported location
Football finance expert Kieran Maguire says Chelsea is not worth in the region of three billion poundsThe cluster of American sports billionaires circling Chelsea underlines the extent to which the English Premier League has become a magnet for financiers from across the Atlantic, with Arsenal, Liverpool and Manchester United all having been acquired by US-based businessmen.
Prior to being sanctioned, Abramovich had said he intended to write off a £1.5bn loan to the club and hand the net proceeds from the sale to a new charity he would set up to benefit the victims of the war in Ukraine.
Last week, the government agreed to further amend the licence allowing Chelsea to continue operating, with the club now able to resume selling tickets for away matches.
The proceeds are to be retained by the Premier League and earmarked for a Ukrainian war victims charity.
Chelsea can also now receive £30m from the club's parent company to ease cashflow constraints caused by the current crisis.
Rapid sale essential if Chelsea is to avert uncertainty
A rapid sale is seen as essential if Chelsea is to avert the uncertainty that would trigger the break-up of one of the top flight's most valuable playing squads.
The current FIFA Club World Cup winners have been thrown into disarray by Russia's war on Ukraine, with Abramovich initially proposing to place the club in the care of its foundation and then formally putting it up for sale.
Sky Sports chief reporter Kaveh Solhekol explains why Chelsea have access to £30m via Fordstam Ltd, owned by Roman Abramovich, so the club can keep going until soldAbramovich had initially slapped a £3bn price tag on the club, with the net proceeds being donated to a charitable foundation set up to benefit the victims of the war in Ukraine.
As well as government consent in the form of a special licence, Chelsea's new owners will also require the approval of the Premier League under its fit and proper ownership test.
Raine has dismissed a report suggesting it was in line to be paid a fee worth 1.5 per cent of the transaction value, which would have been equivalent to £45m if Chelsea is sold for £3bn.
Bidders are said to have been informed Raine's fee is substantially lower than that, and is partly contingent upon both the scale of the ensuing proceeds to charity, and the level of guaranteed future investment in Chelsea.
Raine declined to comment on any other aspect of the bidding process besides disputing the report of its fee, while spokespeople for the consortia all refused to comment.
Chelsea confirm terms agreed with Todd Boehly-led consortium to buy the Premier League club
Chelsea Football Club has confirmed that terms have been agreed with a consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital over the acquisition of the Premier League football team.
The Stamford Bridge-based outfit announced the 4.25 billion pound ($5.2 billion) deal for the reigning European champions in a statement issued in the early hours of Saturday, subject to receiving the required approvals.
"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," the statement said.
"The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time."
Chelsea said the new owners would pay 2.5 billion pounds to purchase shares while committing a further 1.75 billion pounds to invest in the stadium, women's team, the academy and the Chelsea Foundation.
The statement confirmed all proceeds would be placed in a frozen UK bank account and Russian owner Roman Abramovich, who is currently subject to sanctions by the British government, would donate all of the proceeds to charitable causes.
The announcement comes with just over three weeks remaining on the club's current operating licence, which expires on May 31.
Abramovich put the club up for sale in early March following his country's invasion of Ukraine.
He cleared the path for the takeover on Thursday after dismissing reports he wanted a loan given to the club, reportedly worth 1.5 billion pounds ($1.9 billion), to be repaid.
The Boehly group, which also includes Swiss billionaire Wyss, were in exclusive negotiations to buy the club after a late bid from British billionaire Jim Ratcliffe was rejected.