The UK government will reportedly allow any of the remaining bidders to complete a takeover of Chelsea.
The reigning European champions have been up for sale since February, when Russia invaded neighbouring Ukraine. Current owner Roman Abramovich is alleged to have ties with Russian president Vladimir Putin's regime, something which he denies.
Boris Johnson's cabinet have sanctioned the Russian oligarch as a result of the allegations, freezing his UK assets. Chelsea are operating under a special license as a result of the measures, severely limiting their revenue steams. They face the prospect of financial collapse if a takeover isn't completed in the coming weeks.
On the pitch, Chelsea have endured an indifferent spell since Abramovich's sanctions were announced. They've defeated Burnley, Norwich, Newcastle and Southampton in the Premier League - winning the latter game 6-0 on Saturday - and have reached the semi-finals of the FA Cup. They face Crystal Palace at Wembley on Sunday.
But the Blues have also suffered some tough defeats. Relegation candidates Brentford won 4-1 at Stamford Bridge earlier this month and they must overturn a 3-1 deficit in the second leg of their Champions League quarter-finals against Real Madrid on Tuesday.
Manager Thomas Tuchel will be hoping Chelsea's off-field problems are resolved in the near future. Here, Mirror Football takes a look at the next stages of the sale - including when Blues fans can expect a deal to be completed.
The remaining bidders
There are four remaining bidders in the race to takeover Chelsea. The most controversial of which are the Ricketts family , the owners of baseball team Chicago Cubs. Many Blues fans object to the family purchasing the club after patriarch Joe Ricketts made Islamophobic comments in a series of emails, leaked in 2019.
The family have confirmed Joe will not be involved in the running of Chelsea if their bid is successful, yet that didn't stop supporters staging a small protest outside Stamford Bridge earlier this month. More than 21,000 fans have also signed a petition against their bid.
"Our family rejects any form of hate in the strongest possible terms," said the Ricketts family in a statement last month. "Racism and Islamophobia have no place whatsoever in our society... respect for diversity and inclusion are central to our family’s values."
As reported by the PA, siblings Tom and Laura Ricketts are viewed as "suitable bid leaders" thanks to their running of the Cubs and efforts towards community relations - such as diversity and inclusion - in Chicago. They've also pledged to keep the team at Stamford Bridge and are against the idea of a European Super League.
There are other positives to the family's bid. They want to involve supporters in decision making and are backed by two of America's richest men in Ken Griffin and Dan Gilbert.
But the Ricketts are not the only US-based bid. Los Angeles part-owner Todd Boehly - in partnership with American tycoon Mark Walter and British businessman Jonathan Goldstein - is pushing hard to be named as the preferred bidder.
There's certainly no doubting Boehly's interest. He tried to purchase Chelsea in 2019 - offering Abramovich £2.2billion - yet his bid was rejected. Like the Ricketts family, Boehly has pledged to involve Blues fans in key decisions if he's chosen as the preferred bidder.
Who should be named as Chelsea's preferred bidder? Let us know in the comments below!
Next up is Stephen Pagliuca , another American bidder. The 67-year-old is the co-owner of basketball team Boston Celtics and has a 55 per cent stake in Atalanta - completing the latter purchase within the last two months. It's believed he would need to reduce his share in the Serie A outfit if his Chelsea offer is accepted.
Last but not least is the consortium led by British pair Martin Broughton and Sebastian Coe . Businessman Broughton is a lifelong Chelsea fan - despite his six-month spell as Liverpool's chairman - while two-time Olympic champion Coe is the president of World Athletics and headed the organising committee for the London Games in 2012.
Crystal Palace shareholders Josh Harris and David Blitzer are also involved in the Broughton-Coe bid and will offload their share in the south London outfit if successful.
Government stance
It's believed the government will allow any of the four remaining offers to proceed. The Broughton-Coe bid is expected to find favour among PM Johnson and his colleagues due to their establishment links and solid track record in sporting administration. Johnson was the Mayor of London when Coe's Olympics were staged in 2012.
Pagliuca's track record in the US is also thought to be admired among government officials. The Broughton-Coe and Pagliuca bids are both likely to require divesting of football shares, although that isn't said to be a problem among Johnson's cabinet.
Reports suggest the Boehly bid has a "few sticking points" from a government perspective, although they are not set to stand in the American's way. Johnson and his colleagues are also expected to allow the Ricketts' bid to proceed, despite the protests.
Final deadline
The remaining four bidders must submit their final offers to buy the Blues on Thursday, April 14. New York merchant bank the Raine Group - who are overseeing the sale - will then aim to present a preferred bidder to Downing Street the following week, after the Easter bank holiday.
As Abramovich's UK assets are frozen, a bid cannot proceed without government approval. When happy, the cabinet will issue a new treasury license. The preferred bidder will also have to pass the Premier League's owners' and directors' test.
The purchase of Chelsea could cost the chosen bidder up to £3bn. It's unclear where that money will end up. The cash could be frozen until further notice or be given to a charitable foundation in aid of the war, as Abramovich initially planned to do.
