Up
to 10 parties are considering making bids for Chelsea, with investment
bankers working on the sale expecting most of the interest to come from the
USA, writes Kaveh Solhekol.
Russian, Chinese and Middle Eastern money has been behind the acquisition of
many English clubs over the past two decades but everything has changed
since the Chinese government's crackdown on foreign investment and Russia's
invasion of Ukraine.
Instead, the majority of potential buyers of Chelsea, who will register
their interest with investment bank The Raine Group, are expected to be
based in the States.
Current owner Roman Abramovich - who has set a £3billion asking price -
wants to make sure the club is sold to someone or a group who will carry on
his policy of investing in the squad with a view to redeveloping Stamford
Bridge or building a new stadium.
Abramovich has loaned Chelsea £1.5billion since he bought the club in a
£140million deal in 2003. Chelsea's latest accounts show a turnover of £416
million and a loss of £145m after tax for the year to 30 June 2021.
Foreign secretary Liz Truss wants to sanction Abramovich but the National
Crime Agency needs to prove a link to Vladimir Putin before the government
can take action.
Who are the potential bidders?
Todd Boehly-Hansjorg Wyss consortium - Boehly tried to buy
Chelsea in a £2.2billion deal three years ago and he still wants to buy a
Premier League club. The LA Dodgers part-owner has teamed up with Swiss
billionaire Wyss. They are unlikely to pay the £3billion asking price.
Muhsin Bayrak - The Turkish businessman's spokesperson has
told Sky Sports News that he has submitted an offer for Chelsea but his
claims are being treated with caution.
RedBird Capital Partners - US private equity firm who last
April paid £533m for an 11 per cent stake in Liverpool owners Fenway Sports
Group. Premier League rules would prevent them owning another club.
Thomas Ricketts - The chairman of the Chicago Cubs is
looking for investment opportunities outside the US and was part of a
consortium that tried to buy AC Milan in 2018.
N
ick Candy - Property developer and Chelsea supporter who
is interested in putting together a consortium to buy the club.
Conor McGregor - MMA fighter and Manchester United
supporter who claimed on social media on Friday that he was offering
£1.5billion. Not thought to be the profile of owner Abramovich is looking
for.
Sir Jim Ratcliffe - Britain's richest man has looked at
buying Chelsea before but he is known to believe that Premier League clubs
are overpriced. Bought Nice and FC Lausanne instead. His spokesperson has
distanced him from a move for Chelsea.
Loutfy Mansour - Egyptian businessman is a Chelsea
season-ticket holder but his spokesman says he is not pursuing a bid.
The complicating factors
There are only a handful of billionaires who would be able to pay
Abramovich's asking price but any potential sale is complicated by:
Unease about doing business with Abramovich while he is facing the threat of
being sanctioned by the UK Government.
Russian banks being sanctioned means it could prove difficult for Abramovich
to sell or set up a bank account for the charitable foundation he wants to
establish to distribute net proceeds to victims of the war in Ukraine.
Non-Russian banks and financial institutions may be unwilling or unable to
get involved in any potential deal.
Reluctance to do any deals involving Russians because of the invasion of
Ukraine.
Lack of confidence in global stock markets because of the invasion.
In the past, there has been lots of interest in buying Premier League clubs
from Russia, China and the Middle East. Unlikely to be the case this time.
UK Government is preparing legislation which would let it seize the assets
of sanctioned individuals without having to pay them compensation.
Tuchel: No problem staying in charge
despite Abramovich exit
Thomas Tuchel says he has "no problem" remaining Chelsea head coach despite
Abramovich's plan to sell up, insisting he "loves everything about the
club".
Tuchel, who was appointed under Abramovich's ownership in January 2021,
admits the owner's decision to sell has created "uncertainty", but has no
doubts about his own future.
Asked if he would have a problem remaining at Stamford Bridge, the head
coach said: "No, the opposite of a problem staying here.
"I said many times that I love working in the Premier League, I love to be
in England and feel the tradition and the love for sports in general and
football in particular. It's an amazing place to be.
"Chelsea is, for me, the perfect fit. I love to be here, I love everything
about the club and hopefully it continues."
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