Thursday, 18th August 2022
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Bidders told to make final pitches for Chelsea

The Chelsea takeover saga appears to be finally entering its closing stages with three bidders still in contention to buy the club from Roman Abramovich.

The Chelsea takeover saga appears to be finally entering its closing stages with three bidders still in contention to buy the club from Roman Abramovich.

The Russian put the club up for sale at the start of March before being sanctioned, and while he will not receive any money from the bids, he still has a say in who he sells to, reports football.london.com.

Three consortiums make up the final candidates, led by billionaires Todd Boehly, Stephen Pagliuca and Sir Martin Broughton. The Ricketts family made it past the initial bidding stage but pulled out of the process amid protests from Chelsea fans over their involvement.

Initially, a final decision was expected to be made at the start of last week, but an extension was granted with concerns raised among bidders surrounding the cost of renovating Stamford Bridge. Each bidder has been asked to demonstrate they have the funds available to upgrade the ground as part of their pitches.

However, a final decision appears to be looming, and as reported by The Telegraph, all three remaining bidders have been asked to send representatives to Stamford Bridge to make their final pitches to Chelsea and Raine, the bank assisting the club in the process. All remain in the dark of when a final decision will be reached, but the report states that a decision could be communicated by the end of the week.

Two groups were expected to plead their cases yesterday, while the third is scheduled today. The topic of stadium renovations is likely to be on the cards again, while Broughton may be expected to explain the late decision to bring Lewis Hamilton and Serena Williams on board for added investment.