Competing bids to go head-to-head for ownership of Chelsea
Under fire Premier League giants Chelsea is set to be the target of two competing bids as the club could be on the cusp of securing new leadership at the top amid the ongoing sanctions placed on current owner Roman Abramovich.
The Russian oligarch has come under heavy fire from EU sanctions due to his direct ties with Vladimir Putin, with both UEFA and the English FA following in lock-step with government restrictions and limits that are being placed on the oil magnate.
Chelsea has been up for sale as Abramovich is no longer capable of leading the club, and now Saudi Media is set to go head-to-head with South Korean conglomerate bid comprised of holding firm Hana Financial Group and C&P Sports Limited.
What both bids bring to the table for Chelsea
Saudi Media’s bid is currently being finalised and will be sent to Raine Group before the deadline. They have good active dialogue and have faced no issues in the process and have been encouraged to proceed. Details of what the bid is: https://t.co/xHQOKSScZf #CFC
— Nizaar Kinsella (@NizaarKinsella) March 18, 2022
As reported by Goal’s Chelsea correspondent Nizaar Kinsella, Saudi Media’s bid is in on the cusp of being finalized and will then be presented to Raine Group while facing no potential stumbling blocks along the way and have received encouragement in their pathway to proceed.
The platform of the bid for Saudi Media is a credible one, as quoted by Kinsella. The bid to buy Chelsea “includes plans to redevelop Stamford Bridge and renew the contracts of key players such as Antonio Rüdiger and Cesar Azpilicueta. The group isn’t just concerned with ensuring that the men’s senior squad continues to compete for the biggest trophies either. Saudi Media also intends to continue investing heavily in the London club’s academy at Cobham Training Centre, as well as the women’s team.”
As for the conglomerate bid from Hana Financial Group and C&P Sports Limited, a successful venture on their end would signal the first time South Korean capital has been leveraged into ownership of a top-level football club, a notion that CEO Catalina Kim spoke about.
“We are preparing our bid. There has never been investment into a top-tier football club made by South Korean capital before. It is time for a change.”