Soccer-Three bids submitted for Chelsea as deadline passes – Metro US

MANCHESTER, England (Reuters) – Three bids have been made to buy English Premier League club Chelsea by groups led by British property developer Nick Candy, owners of the Chicago Cubs, the Ricketts family and couple Martin Broughton and Sebastian Coe .

Premier League Chelsea was initially put up for sale by owner Roman Abramovich after Russia invaded Ukraine before sanctions were imposed on the oligarch by the British government, effectively giving him control of the club.

Raine Group, a US bank, oversaw the sale process before the Russian billionaire was sanctioned, and set a deadline of 21:00 GMT on Friday for the submission of bids, a deadline that three bids have so far officially announced. respected.

South Korean companies Hana Financial Group and C&P Sports Limited have teamed up with Candy to offer two billion pounds ($2.64 billion) to Chelsea, a statement from Candy said on Friday.

He added that the consortium also includes “significant Silicon Valley investors and tech billionaires who have other stakes in sports teams in the United States.”

“Football clubs are vitally important community and cultural assets, and this is a unique opportunity to give football back to the fans and put them at the heart of the operations and strategy of a global football club. foreground,” Candy told Reuters in a statement.

“I believe Chelsea have all the fundamentals to become the most valuable and respected sporting club in the world and a force for greater good in everything they do.”

C&P Sports CEO Catalina Kim previously confirmed to Reuters that they and Hana were considering an offer.

“We are in the process of arranging our bid for Chelsea FC,” a statement read. “Surprisingly enough, despite the size of the economy, there has never been any investment in (English) Premier League football clubs made by the South Korean capital until now.

“Now it’s time for a change and we are ready to start a new chapter with Chelsea FC.”

The owners of the American baseball team the Chicago Cubs, the Ricketts family, have confirmed to Reuters that they have also made an offer for Chelsea, together with Citadel founder Ken Griffin.

Former British Airways chairman Broughton has teamed up with World Athletics Coe chairman to become the third to bid on Friday night.

“I am assembling a team that will ensure the future success and financial stability of a club that I have supported for over 60 years,” Broughton said in a statement.

“We will ensure a quick purchase and a smooth transition, with funds readily available for the immediate takeover of the club and immediate investment in team, facilities and business opportunities.

“I think I’m the right person to lead Chelsea as we embark on this new chapter for the club.”

Other bidders are expected to be confirmed in the coming days, with a source familiar with the deals telling Reuters that Swiss billionaire Hansjoerg Wyss, who has linked up with LA Dodgers co-owner Todd Boehly, British businessman Jonathan Goldstein and his conservative counterpart, Daniel Finkelstein, also filed an offer.

MISUNDERSTANDING

Turkish businessman Muhsin Bayrak, who had previously expressed an interest in the club, said on Friday night that his company AB Group Holding had not submitted a bid to Raine Bank.

Bayrak blamed AB Group’s failure to meet the deadline due to a misunderstanding with its lawyers over the auction process. “I am very upset,” he told Reuters.

According to emails seen by Reuters, lawyers for the AB Group contacted the UK Department for Digital, Culture, Media and Sport using a generic email address to file an inquiry, rather than filing a bid with the American investment bank.

Hana Financial Group is a South Korean investment bank and financial services company headquartered in Seoul, Korea. The group is also the title sponsor of the Korea Football League and the national football team.

C&P Sports Limited is a leading sports consultancy firm based in London and Seoul.

C&P Sports has worked on commercial agreements with several major clubs over the past 10 years, such as Kumhos Tires with Tottenham Hotspur, Nexen Tire with Manchester City and Hyundai Motors with Atletico Madrid.

Candy, a lifelong Chelsea fan, had been joined by former Blues player and manager Gianluca Vialli as he prepared his offer.

“I have met Nick Candy several times over the past few weeks and I am fully behind his visions,” Italian Vialli said in a statement after it was announced the company he co-founded, Tifosy, will act in as the lead advisor for the process.

($1 = 0.7587 pounds)

(Reporting by Peter Hall; Additional reporting by Ali Kucukgocmen, David Gauthier-Villars and Rohith Nair; Editing by Christian Radnedge, Ken Ferris and Kenneth Maxwell)

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