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Chelsea: Interested buyers given fresh conditions

2 min read

Parties interested in bidding for Chelsea before Friday’s deadline have been given fresh conditions.

One of the conditions requires the buyer to submit a detailed background report on all investors.

Those interested in making an offer ahead of the March 18 cut off are also asked to file details of their motives for the club moving forward as they enter the official bidding process.

Sources close to the sale of the European champions say there are in the region of 200 interested parties.

New York-based merchant bank Raine is advising Chelsea on the sale, while Sportsmail reports the Blues director Marina Granovskaia is also offering interested groups guidance during the process.

Potential bidders have been provided a checklist of details they must submit with their offers, which parties are being advised should be made to Raine, the Premier League and the Government.

Bidders will be asked to supply a proof of funds letter, a full list of advisers, a business plan and a timescale for completion to accompany their offers.

Club sale could potentially still go ahead, as long as Abramovich does not benefit financially.

But, intriguingly, potential buyers are also being asked to provide their motivations for the offer and a detailed report on the background of all the investors amid a growing focus on the issue of suitable club ownership in the Premier League.

Buyers are also advised that a cash offer – and being the highest bidder – will be crucial, however other well-placed sources insist that any consortium or individual’s ability to preserve employment at all levels at the club and fulfil their existing financial obligations will also be a key factor when deciding which bid is successful.

The issue of appropriate club ownership have been thrust back into spotlight in recent weeks.

There remains major objection to the Saudi takeover at Newcastle given the worrying human rights record in the Islamic state.

Similarly, the Government’s decision to sanction Chelsea owner Roman Abramovich over his connections with the Vladimir Putin regime in Russia that has caused such devastation in Ukraine has left the club in complete turmoil.

Having effectively stripped Abramovich of his control at Stamford Bridge, the Government have taken charge of the sale of Chelsea and will play a lead role in deciding which offer is selected as the preferred one after Friday’s deadline.

And it appears they, along with the Premier League, are taking the issue of appropriate ownership seriously as they look to comply as much information as possible on individuals involved in any takeover and their intentions for the future of the club.

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