Chelsea bidder and supporter Lord Sebastien Coe has urged the club to complete a takeover as soon as possible, warning of the consequences that may come from dragging the process out. It comes after Todd Boehly’s consortium was reportedly chosen as the preferred bidder.
The takeover saga is nearing its third month now, after owner Roman Abramovich was sanctioned by the UK Government following Russia’s invasion of Ukraine. While his assets were frozen, the club was placed under a special sporting licence, putting restrictions on how it operates.
US Banking firm Raine Group was put in charge of the takeover process, eventually bringing the options down to three consortiums, led by: Sir Martin Broughton, Steve Pagliuca and Todd Boehly. It was the latter that was selected as the preferred bidder, but not before a last minute bid from Sir Jim Ratcliffe to add another twist to the saga.
