SportsTop StoriesWorld

Chelsea: Centricus Bid To Buy The Club

Centricus, a global investment firm, is funding another British bid to buy Chelsea, stating that it wants to “maintain and support existing management.” Russian owner Roman Abramovich put the Premier League club up for sale before being sanctioned for his country’s invasion of Ukraine.

This latest bid, backed by Centricus, a company with £29 billion in assets, includes several Chelsea season-ticket holders. At least four consortiums have stated their intent to purchase the Blues. There are two groups, one led by British property investor Nick Candy and the other by Sir Martin Broughton and Lord Coe.

Candy raised his bid on Monday after adding another large international backer, according to a statement from his Blue Football Consortium. After a large Korean financial institution joined his consortium over the weekend, the lifelong Chelsea fan is said to have improved on his £2 billion bid.

The American investment firm Raine Group, which is handling the sale, has received proof of funds. The Ricketts family of the United States has expressed interest, as has a group led by Swiss billionaire Hansjorg Wyss and Los Angeles Dodgers part-owner Todd Boehly.

There are also reports that the Saudi Media Group has submitted a bid to the Raine Group. Those bidding are expected to be narrowed down to a shortlist this week, with a sale expected before the end of the month. The bid is led by Centric co-founder Nizar Al-Bassam and CEO Garth Ritchie, as well as hedge fund managers Jonathan Lourie of Cheyne Capital and Bob Finch of Talis Capital.

The group said in a statement that it “will be committed to supporting [Chelsea] and its key stakeholders to ensure its continued success.” “Our financing for the deal includes funding for the transaction’s completion as well as funding for working capital required for the CFC Group’s day-to-day operations, funds required to maintain an elite global brand, investment in grassroots and in-community football initiatives such as the Chelsea Academy, the women’s team, the youth development program, and the Chelsea Foundation, and strategic real estate investment,” it added.

“The intention is to retain and support existing management on the CFC Group’s business and sporting operations.” “We intend to stick to our current strategic course.” The CFC Group has been operating under difficult conditions, and we recognize the importance of ensuring a smooth and stable ownership transition for the CFC Group, fans, and other key stakeholders.”

Former Chelsea captain John Terry has also backed a group that wants to buy 10% of the club “to ensure that whoever buys Chelsea is held accountable by fans.” Oakvale Capital is advising the True Blues consortium, which also includes Chelsea Supporters Trust, Chelsea Pitch Owners, and former Chelsea and England full-back, Claire Rafferty.

Terry stated: “Chelsea has been a huge part of my life for the past 22 years. I want to see the club’s history and heritage protected as we enter a new era with like-minded people who share the same long-term vision of building the best football club in the world and recognize the significance of our DNA.”

Leave a Reply

Back to top button