Winning bid to take over Chelsea will be presented to the government in three weeks’ time, say sale organisers Raine Group, leaving the £3bn deal to succeed Roman Abramovich to be completed by the end of April
The winning bid to take over Chelsea from Roman Abramovich will be presented to the government and the Premier League in three weeks’ time, according to the organisers of the sale, Raine Group.
There are four shortlisted bidders remaining in the process, and they – as reported by Sportsmail – will now be expected to submit detailed, costed plans for how they intend to expand Stamford Bridge.
Parties involved in the race have also recently received confirmation that they can increase their offers for the club, with merchant bank Raine, who are advising Chelsea with the sale, permitting improved bids.
After Abramovich was sanctioned in the wake of the invasion of Ukraine, the government has prioritised a quick sale, largely due to the financial restrictions imposed on the Blues as a result of the situation involving their outgoing owner.
And it has now been revealed by Sky News that the government may be approached to issue a licence to push through the sale during the week commencing April 18.
The same outlet says that a letter with information about the current developments was sent out to the four contenders, with the change of ownership at the club now creeping ever closer and set to be handed the green light by the end of next month.
The winning bid to take over Chelsea from Roman Abramovich (pictured) will be presented to the government and the Premier League in three weeks’ time, reports say
Raine, Chelsea and the government want the sale concluded by the end of April, Sportsmail has also reported in recent days.
Once a preferred bidder is selected, the government will then have to give the all clear before the winners can take the Premier League’s owners and directors test.
Richard Masters, the chief executive of the Premier League, has said that the bidder will be scrutinised under the test as quickly as possible. He even pointed out a previous club takeover, which was approved inside ten days.
With around five weeks to go until the expected sale, shortlisted parties now have a clear time-frame to clear up any potential snags around their proposals.
They were informed by Raine that they must commit at least £1billion to invest in the club in the future to continue in the process to replace Abramovich.
More to follow.
LA Dodgers part-owner Todd Boehly’s consortium is one of the parties shortlisted by Raine
The bid from the Ricketts family has also been shortlisted by Chelsea (pictured: Tom Ricketts)
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