April 29 – Chelsea owner Roman Abramovich has asked the three groups bidding to buy club to stump up an extra £500 million which he wants to go to charity for victims of the war in Ukraine.
The bidders who remain in the running are a consortium led by Sir Martin Broughton, the former Liverpool chairman; a group spearheaded by LA Dodgers part-owner Todd Boehly; and a consortium being fronted by Steve Pagliuca, who co-owns the Boston Celtics, and Toronto Maple Leafs backer Larry Tanenbaum.
New York bank, the Raine Group, is overseeing the sale which is expected to go through within weeks
After Abramovich was sanctioned by the UK Government last month, the Russian Oligarch will not be allowed to receive any money from Chelsea’s sale. He is aiming for a total of £2.5 billion to be donated to charity with an additional £1.5 billion invested in the club.
Chelsea are operating under a special licence from the UK government which ends on May 31 and British culture secretary Nadine Dorries says the club are now on “borrowed time” over the sale.
“There is a very short window left for that sale to take place,” Dorries said. “Chelsea is very much on borrowed time at the moment.”
Contact the writer of this story at moc.l1714112537labto1714112537ofdlr1714112537owedi1714112537sni@w1714112537ahsra1714112537w.wer1714112537dna1714112537