Both the British government and the Premier League will oversee the sale of Chelsea.© AFP
Saudi Media Group’s bid to buy Chelsea has failed to make the final shortlist, according to UK media reports on Thursday. The Saudi consortium was one of several bidders trying to buy the troubled Premier League club from Russian owner Roman Abramovich. The Raine Group, which is handling the sale after Abramovich’s assets were frozen by the British government following Russia’s invasion of Ukraine, has begun to inform potential buyers about the status of their offers.
The Saudis, whose consortium was led by Blues fan Mohamed Al Khereiji, are reportedly the first to be told their bid for Chelsea has been rejected.
Saudi Media insisted its offer was completely unrelated to the Saudi Arabian state, a move provoked by criticism of the country’s human rights record.
Last year’s Saudi-led takeover of Newcastle was widely criticized over human rights concerns.
Both the government and the Premier League will monitor the sale of Chelsea, in light of Abramovich’s sanctions.
Chelsea must operate under strict government licenses until a new buyer is found, and Abramovich cannot profit from the Chelsea sale.
Los Angeles Dodgers, co-owner Todd Boehly, is among the frontrunners for Chelsea, with Chicago Cubs owners, the Ricketts family, also lining up to make Raine’s shortlist of preferred bidders.
Martin Broughton and Lord Sebastian Coe have put in another strong offer, secured with strong funding and both frontmen say they are proud of the entry.
British property magnate Nick Candy has pushed hard with its bid for the Blues, while London-based global investment firm Centricus has also put in an offer.
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