Our bidders are in the running to buy Chelsea after Boston Celtics owner Stephen Pagliuca was shortlisted. Pagliuca was a surprise addition to the list complied with by Raine Group, the American bank appointed by Roman Abramovich to find a buyer for the club. Rival consortia led by Todd Boehly and Sir Martin Broughton remain leaders, with an offer from the Ricketts family shortlisted despite criticism from Chelsea fans for Joe Ricketts’s Islamophobic comments. The Broughton team, backed by Lord Coe, is said to be funded by Crystal Palace co-owners Josh Harris and David Blitzer. The BBC reports that the shortlist includes a mysterious fifth bidder who has not made his interest public.
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But the sale of Chelsea seems to have ended in a four-way battle as Pagliuca came as a surprise in recent years. Pagliuca co-chairs Bain Capital, which manages 11 118 billion in assets. The American also holds 55% of the shares in the Serie A Atalanta team. Information on the next stage will come over the weekend, with bidders having access to the “data room” which will give them an idea of Chelsea’s full financial situation, including an updated payroll. The preferred buyer is expected to be decided within the next fortnight. It is hoped that the sale, which will have to be approved by the Premier League and the government, will be completed by the end of April. The winning team is expected to pay around 2.5 billion pounds for Chelsea.
