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Roman Abramovich makes ‘incredibly difficult decision’ to sell Chelsea
While the sale of Chelsea continues the club have been given a boost after the UK government amended its special operating license. The alteration will now allow Chelsea to sell tickets to away matches, cup games and women’s fixtures provided the club does not receive any revenue.
This means Chelsea fans will be able to attend the club’s Champions League quarter-final against Real Madrid and FA Cup semi-final with Crystal Palace at Wembley. The Premier League have said the revenue generated by ticket sales, which would normally have gone to the club, will be donated to war victims in Ukraine.
The government will now also allow Chelsea to receive £30million from its parent company, Fordstam, to allow the club to remain afloat following the sanctioning of owner Roman Abramovich and while the Premier League side is sold.
Raine Group, who are overseeing the process of selling Chelsea, are compiling a shortlist of three preferred offers and although the various interested parties had expected to receive word on whether they had made the cut early this week, the complexity of the deal and information involved has meant more time is needed.
Todd Boehly and Chicago Cubs owners the Ricketts family are among the frontrunners to take over - although a supporters group have expressed their distaste at the Ricketts bid.
Follow all the latest Chelsea takeover news below:
Saudi Media Group trolls Arsenal after failed Chelsea bid
A member of the Saudi Media Group has trolled Arsenal after his bid to buy Chelsea was rejected.
Khalid Al Khudair said he would consider buying the Gunners but only “if it was a charity case”.
He added after failing to make the final shortlist: “We did our best, disappointed, but we will continue to bleed #blue”.
Jack Rathborn25 March 2022 13:40
Josh Harris and David Blitzer near Crystal Palace dilemma
Sir Martin Broughton’s consortium is primarily being funded by Josh Harris and David Blitzer - worth £4.5bn and £1bn respectively.
Harris and Blitzer are long-standing partners in sport and business over the past decade, co-owning NBA team Philadelphia 76ers after a 2011 takeover.
But with shares in Crystal Palace, the pair would have to sell to avoid a complication and conflict of interest.
Presumably they have already revealed their intent to sell given Broughton’s bid has advanced to the final shortlist, meaning an 18 percent stake of the south London team will be up for grabs.
Jack Rathborn25 March 2022 13:30
Chelsea takeover latest: Shortlisted bidder likely to replace Bruce Buck as club chairman
Sir Martin Broughton would likely be the new Chelsea chairman and replace Bruce Buck if his consortium’s bid is successful, the Telegraph report.
Broughton and Lord Sebastian Coe are both Chelsea supporters, with both set for leading roles at the club if they beat out the final two shortlisted bids - one of which is led by American Todd Boehly.
Neither Broughton or Coe are major financial investors in the bid, neither is Vivek Ranadive, who is another minor investor.
Jack Rathborn25 March 2022 13:21
Ricketts family meet with Chelsea Supporters' Trust
The Chelsea Supporters’ Trust has expressed concern about the Ricketts family’s ability to run a successful and inclusive club after contact was made.
Jack Rathborn25 March 2022 13:09
Chelsea takeover latest: Sir Martin Broughton consortium primed to land winning bid
Sir Martin Broughton and the consortium he is fronting have advanced to the final three bids shortlisted by Raine Group.
The former British Airways chairman Broughton has assembled sports business and politics heavyweight Lord Sebastian Coe, who is a Chelsea fan and season ticket holder.
While the consortium has been boosted with added financial intelligence by the inclusion of Wall Street investment banker Michael Klein.
Jack Rathborn25 March 2022 12:30
Chelsea takeover latest: Todd Boehly consortium primed to land winning bid
Todd Boehly and his consortium are primed to land the winning bid for Chelsea FC after their bid made it to the final three shortlisted by the Raine Group.
The US magnate Boehly and his Eldridge Industries firm are joined by Swiss billionaire Hansjorg Wyss, while British business leader Jonathan Goldstein is also part of the consortium.
Jack Rathborn25 March 2022 12:20
Todd Boehly on owning a Premier League football club
Todd Boehly on owning a Premier League club: "Football is the biggest sport in the world, the passion the fans have, it's unparalleled, you're trying to A) win B) part of the community.
“The opportunity we had with the Dodgers was a partnership with Los Angeles, how are we going to win? Drive championsips and drive passion.
“The Premier League is the best. You can never predict these things, one of the nice things about them is they are relationship-drive, people-drive, it’s unlikely one gets put up and sold by auction.
“So by developing long-term relationships and getting to know them, if something happens, I don’t know. But I’ve learnt a lot about the fan base and global opportunity.”
Jack Rathborn25 March 2022 11:49
Chelsea takeover: Johnson bid ruled out
Woody Johnson, the heir to the Johnson & Johnson pharmaceuticals empire and owner of the New York Jets, has seen his bid ruled out.
“What Chelsea need right now is longevity and stability when it comes to a new owner. Woody and his team think they can provide that,” a source had previously told The Sun.
“He’s run the Jets successfully and knows a huge amount about the sports industry. And he’s spent the last four years in London and knows it well.”
Tom Kershaw25 March 2022 11:39
Chelsea’s Romelu Lukaku and Hakim Ziyech spend time in New York during international break
Romelu Lukaku and Hakim Ziyech have spent the international break in the United States.
The Chelsea stars were courtside for the Brooklyn Nets beat the Utah Jazz at Barclays Center.
Jack Rathborn25 March 2022 10:25
Chelsea takeover: Saudi Media Group reacts to missing out on shortlist
SMG director Khalid Al Khudair, a member involved in Saudi takeover attempt of Chelsea, has reacted to missing out on the shortlist to purchase the Blues.
Jack Rathborn25 March 2022 10:15