Saudi Media are out of the race to buy Chelsea after being informed by the Raine Group that they would not be considered in a shortlist to purchase the club. Several other prospective buyers are set to learn their status today as Raine, the New York-based bank in charge of the sale, whittled down offers that were submitted last week.
But, as first reported by Goal, the Saudi group are the first to confirm that they are not being considered to take over from Roman Abramovich, the Russian oligarch under UK government sanctions. The consortium led by Todd Boehly, a part-owner of the LA Dodgers, remains the frontrunner according to sources, with the group featuring Sir Martin Broughton confident that they are progressing to the next stage.
Earlier today Stephen Pagliuca, a part-owner of Serie A club Atalanta and NBA outfit Boston Celtics, become the latest name to feature among those to have registered a bid to buy the West London club. As first reported by Sky News, Pagliuca submitted a big before last Friday's deadline.
