Speaking in the House of Lords under the protection of parliamentary privileges, former Labor Minister Lord Heine called for the Pagliuca Consortium to be excluded from the race to oust the Blues. Boston Celtics co-owner Stephen Pagliuca is on the list of the four strongest contenders for the top team. The 67-year-old billionaire is also co-chairman of Bain Capital, which the company says is independent of Bain & Company. Lord Hein told the House of Lords: “As a Chelsea fan for 57 years, will the government ensure that no winning offer owes the club debt like the Glazers did at Manchester United? The government does not want to prejudge any decision Chelsea may make Baroness Penn “Ministers will also ban the offer of the Pagliuca Consortium led by the chairman of Bain Capital, which remains largely affiliated with Bain & Company, which was recently accused by a South African judicial commission of ‘illegal action’ and referred for prosecution. “Bain cynically and ruthlessly shut down the country’s tax collection service conspiratorially with the corrupt former president Zuma for 8 8 million. “Chelsea and the Premier League must not be contaminated by such horribly corrupt business practices.” The Conservative Lords are flogging Baroness Penn, responding to the government, saying: “The government does not want to prejudge any decision Chelsea may make, as it is a decision for it to ensure that the best owners for the club are found. “We would wait for all the due diligence and evaluation of the owners to be done before submitting an application for a license for the sale of the club, which OFSI (Office for the Implementation of Financial Sanctions) will then examine on its substance.” Speaking outside the room, a Bain Capital spokesman said: “Bain Capital left Bain & Company in 1984. “Since then, the two companies have been operating completely independently of each other.” Roman Abramovich put Chelsea up for sale on March 2, amid Russia’s ongoing invasion of Ukraine. The Russian-Israeli billionaire was subsequently imposed by the government on March 10. The club must operate under a strict state license, with Abramovich not being able to benefit from the sale of Chelsea. The government says it has nothing to do with how the bids come out. Isn’t that just right for sure? Lord Hein Downing Street must approve another new license to authorize the possible sale of Chelsea, with the money either frozen or donated to charity to help victims of the war in Ukraine. Pressing the issue in Westminster, Lord Hein said: “The government has imposed all sorts of restrictions on the club. They can not sell programs, they can not do all sorts of things. “And now the government says it has nothing to do with how the bids come out. Isn’t that right for sure? “ Lady Penn said: “It is true that financial sanctions do not change the ownership of frozen assets. We do not control the foreclosed assets and it is up to the club to determine the sale process. “The role of the government in this is to examine every permit application based on sanctions based on its value and that is what the government will do.” The Commercial Bank of New York, Raine Group, set a deadline of April 11 for prospective homeowners to submit their final bids. The remaining Chelsea suitors will have the opportunity to submit improved offers for the purchase of the Stamford Bridge club, with commitments required for at least 1 1 billion in future expenses. The Chicago Cubs, owners of the Ricketts family, former Liverpool president Sir Martin Broughton and LA Dodgers co-owner Todd Boehly are the other candidates still running. Contact Mr Pagliuca’s representatives for comment.
