The three groups in the running to take over Chelsea Football Club from sanctioned Russian oligarch Roman Abramovich have been asked to provide guarantees that they will remain in control for a decade by the merchant bank overseeing the sale.
As first reported by Sky News, Raine Group have communicated to the shortlisted consortia that the majority shareholder from the preferred bid will retain ownership until at least 2032 to protect the club from further upheaval. It is expected to be a legally binding condition of the club's sale.
Raine and the club's board, primarily chairman Bruce Buck and director Marina Granovskaia, have been evaluating the three final bids since a March 14 deadline. One source close to a bid told Mirror Football last week that a decision was expected to be communicated early this week.
However, that is now set to be delayed with the bidders since being asked for additional information and assurances. There is, however, a hard deadline of May 31, the date the government's special operating licence expires.
Once a preferred bidder is named, an application must be made for the terms of the government's licence to be amended to allow a takeover to proceed. The Department for Digitial, Culture, Media and Sport has indicated that its only concern is around ensuring that Abramovich, who is on the sanctions list because of links to Russian president Vladimir Putin, does not stand to make any financial gain.
From there the prospective buyer will go on to completing the Premier League's owners' and directors' test, a process that league chief executive Richard Masters has previously said has taken ten days minimum in the past.
The three groups are backed by American money. They are led by Todd Boehly, a part-owner of the LA Dodgers; Stephen Pagliuca, a Boston Celtics owner who controls the biggest share in Serie A club Atalanta; and a consortium fronted by Sir Martin Broughton but primarily funded by Josh Harris and David Blitzer, minor owners in Crystal Palace.
Last week the Broughton group added Sir Lewis Hamilton and Serena Williams as minor investors with the former expected to take on a role promoting diversity and inclusion if successful.
"It is the biggest sport in the world and Chelsea is one of the biggest clubs in the world and most successful," the seven-times Formula 1 champion said on Friday. "When I heard of the opportunity I thought, 'wow, this is one of the greatest opportunities to be a part of something so great'."
