Prospective owners of Chelsea Football Club have been told the deadline of the club's takeover. The race to buy the Blues from Roman Abramovich was set to finally draw to a close nearly two weeks ago, April 14.
Consortiums led by Todd Boehly, Sir Martin Broughton and Steve Pagliuca all remain in contention, though it's expected that the latter is who will be eliminated from proceedings. They will be hoping to hear by the end of this week as to who Raine Group deems the preferred bidder, with all three having had further conversations with the club's hierarchy earlier this week, according to The Telegraph.
Uncertainty has loomed over Stamford Bridge throughout the process as each interested party fights to make its case. And, now, Boehly, Broughton and Pagliuca will each have to table another £500m to purchase the west London club.
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As reported by Sky News, the three billionaire-led consortiums were informed in the last 48 hours that Abramovich is demanding that the additional sum be guaranteed by his successors and given to charity - it would be one of the biggest donations in British history.
However, amid the flurry of extra obligations that Boehly, Broughton and Pagliuca must meet, Chelsea have been warned that they're running on 'borrowed time' with just 'weeks' left. Speaking on the BBC's Newscast podcast, Conservative Member of Parliament Nadine Dorries said: "Chelsea is very much on borrowed time at the moment. There is a very short window left for that sale to take place. It has to happen soon."
When asked how long the Blues have to wrap up the takeover the Secretary of State for Digital, Culture, Media and Sport answered, but refused to comment on what would happen if a sale isn't completed in time. Dorries said: "Weeks."
Abramovich's sanctioning has meant that Chelsea have been unable to buy, sell or negotiate contracts with players, handing Thomas Tuchel a damning disadvantage ahead of next season. And, according to the Times, there is a feeling that the sale process could 'plunge' the German boss' future into doubt.
