Chelsea will have new owners as soon as the bidding process is complete
April 25 (THEWILL) – Chelsea supporters could find out who the club’s next owners will be this week, as US bank Raine Group prepares to reveal its preferred bidder from a pool of three bidders.
Roman Abramovich had appointed Raine to manage the sale process before the Russian was sanctioned by the British government for his links with Vladimir Putin.
Since then, the European champions have been operating under a special license which limits their ability to sell tickets, merchandise and transfer funds.
During Abramovich’s 19-year reign, Chelsea have won 19 major trophies, and they could win another when they face Liverpool in the FA Cup final next month.
The impact of the sanctions is starting to be felt, as evidenced by the rows of empty seats at home to Arsenal’s 4-2 win at Stamford Bridge on Wednesday.
The club will also be unable to offer new contracts to defenders, Antonio Rudiger and Andreas Christensen, who are expected to leave on free transfers at the end of the season. Thomas Tuchel has already confirmed Rudiger’s decision.
By the end of the campaign, it is hoped that new owners will have taken over.
None of the three bids are expected to have difficulty meeting the criteria of English Premier League owners and directors or obtaining clearance from the UK government.
Chelsea’s success has been fueled by Abramovich’s subsidized loans totaling £1.5bn ($1.9bn), but he will not claim that money or receive any money from the sale while he is punished.
Despite the losses and the need for an expensive stadium renovation to match their position as one of Europe’s top teams, the sale is expected to bring a world record £2.5billion for a sports club.