Deadlines, schedule emerges as bidding process speeds up

Now is the time when potential new owners of Chelsea are being asked to put their plans and their money where they say.

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With four groups shortlisted to become Chelsea’s new owners (there’s a 75 per cent chance they’ll own an American-led group), it’s been widely reported that final offers will be due on Monday. April 11 as the process accelerates.

Our partners in the UK at sky sports believe Chelsea’s new owners could be in place by the end of April, a few weeks longer than most consortia bidding to buy the west London club had previously hoped.

These types of deals are very complicated and there is still a lot to sort out as Chelsea aim to secure their future after Roman Abramovich was forced to sell the club amid British sanctions for his close involvement with the Russian government and its president. Vladimir Poutine.

The UK government has since allowed Chelsea to continue operating on a limited license, while also overseeing the club’s sale process. Raine Group, the bank overseeing the sale, says more than $1.3 billion is to be set aside to invest in Chelsea’s future, which will be used to invest in Stamford Bridge, the training ground, the game staff and more.

Who are the four groups trying to buy Chelsea?

Via our partners in the UK at Sky Sports, here are more details on the four groups who remain in contention to buy Chelsea:

  • Sir Martin Broughtonthe former chairman of British Airways and Liverpool FC, and Lord Coe, the former British Olympian turned sports administrator and businessman, face a bid that has the financial might of wealthy financiers Josh Harris and Dave Blitzer Americans. This consortium also includes Vivek Ranadive, an entrepreneur of Indian origin, and a syndicate of other investors from around the world whose identity should be confirmed in the coming days.
  • Todd Boehlythe co-owner of the LA Dodgers, and includes Jonathan Goldstein, the London-based property developer, and Clearlake Capital, a US-based investment firm.
  • The Ricketts FamilyChicago Cubs owner and Citadel hedge fund billionaire Ken Griffin with US investment bank Lazard in talks to advise him.
  • Stephen Pagliucaan American private equity billionaire who owns the Boston Celtics and Atalanta in Italy’s Serie A.

What are the deadlines for the sale of the club?

Here are the latest reported deadlines:

  • monday april 11: Final offers must be received by this date
  • monday april 18: UK government to announce preferred buyer
  • April 18-25: License to be issued by the UK government for the sale of Chelsea to be completed
  • April 18-30: The Premier League will decide whether or not to confirm the takeover. The new owner is expected to take charge of Chelsea Football Club by the end of April

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