Saudi Media Group not included on shortlist of preferred Chelsea bidders
New York merchant bank the Raine Group has started the process of informing prospective buyers whether they have been shortlisted
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Saudi Media Group consortium is out of the running to buy Chelsea.
The Saudi bidders have been told their offer has not been taken forward to the shortlist stage.
New York merchant bank the Raine Group has started the process of informing the prospective buyers of Chelsea of the status on their bids.
And the Saudi offer is the first to be understood to have fallen short.
Chelsea fan Mohamed Al Khereiji fronted the Saudi consortium’s bid, but concerns over possible delays with the Premier League and UK government will have factored into Raine’s decision.
Saudi Media insisted its offer was completely separate from the Saudi Arabia state, but the long-running issues around the Saudi takeover at Newcastle will have played a part in Raine’s consideration of the offer to buy Chelsea.
Both the government and the Premier League will have oversight on Chelsea’s sale, in light of owner Roman Abramovich’s Downing Street sanctions.
Abramovich put Chelsea up for sale on 2 March, amid Russia’s continued invasion of Ukraine.
The Russian-Israeli billionaire was then sanctioned by the government on 10 March, with Downing Street claiming to have proven his links to Vladimir Putin.
The Blues must operate under strict government licence, with Abramovich unable to profit from Chelsea’s sale.
Los Angeles Dodgers part-owner Todd Boehly is among the front-runners for Chelsea, with Chicago Cubs owners the Ricketts family also in line to make Raine’s shortlist of preferred bidders.
Sir Martin Broughton and Lord Sebastian Coe have another potent offering lodged, with strong financing secured and both front men proud of the submission.
British property tycoon Nick Candy has pushed hard with his offer for the Blues while London-based global investment firm Centricus has also submitted a well-funded bid, fronted by four lifelong Chelsea fans.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments