Peter Hall

MANCHESTER, England (Reuters] – The auction to buy Chelsea Premier League Club in England has narrowed down a consortium that includes investors Todd Boehly Hansjorg Wiss, and Jonathan Goldstein, according to Reuters.

Roman Abramovich (Russian billionaire) put Chelsea up for sale following Russia’s invasion Ukraine. The proceeds were to go to charity. British sanctioned him this month. The government would have to approve the winner for Chelsea.

We cannot understand the significance of the offer made to Boehly by the group, who was a president of Guggenheim Partners and whose firm Elridge currently invests in several business ventures — but we can learn.

According to sources, other bidders will be able to receive information from Raine Group in the United States about whether or not they made it onto a shorter list. This has slowed down the bidding process.

According to The Financial Times, the Shortlist was also announced by Josh Harris (private equity veteran) and David Blitzer. They own several sports teams, including the Philadelphia 76ers National Basketball Association. If they want to bid on Chelsea, they would need to sell their 40% share in Crystal Palace (another English football team).

Saudi Media did not make the cut, an adviser to the group said to Reuters. Sky News also reported that Woody Johnson (owner of the New York Jets) had been removed from the list.

Sources close to the deal said that Elliott Management, a hedge fund owned by AC Milan, joined the Nick Candy-led Blue Football consortium in order to be a minor investor in the group’s bid for Chelsea.

According to Reuters, Elliott had injected a multi-million pound amount into the bidding.

Candy, British property developer was able to increase her offer after she was joined by another large Korean financial institution.

Elliott purchased AC Milan from the Italian giants in 2018, and since then has helped them become more competitive in Serie A. This team has a chance to win their first league title since 2001.

Candy had initially been joined in his consortium by South Korean companies Hana Financial Group and C&P Sports Limited before the new investors got on board.

SAUDI MEDIA MISS OUT

A representative of Saudi Media Group informed Reuters that their bid to Chelsea was rejected. Raine had also told them they weren’t on the shortlist.

The bid was led by Mohamed Alkhereiji, a businessman who has been reported as a Chelsea season ticket holder. They also said that they would consider linking up with any other consortium that makes it to the final list.

Sources close to this process stated that Chelsea is not interested in dealing with Saudi money because of potential controversy and complications which could increase the difficulty of a quick-track sale.

Other people who made public their offers include the Ricketts family, Chicago Cubs owner; and Sebastian Coe, World Athletics President.

Centricus, an international investment company based in London, also stated that they offered to purchase Chelsea. This move was driven by Garth Ritchie and Nizar Al-Bassam, co-founders of Centricus. They are believed to have season-ticket holders.

(This story is a refile to delete extraneous text in the first paragraph.