The government will not play an active role in selecting Chelsea’s next owner, with their sole focus on ensuring no money from a transaction goes to Roman Abramovich.
Raine Group, a US bank, has been overseeing the sale process since before the Russian billionaire was sanctioned by the government last week. They have set a deadline of Friday for bids to be submitted, which was pushed back 72 hours due to the sanctions.
At that point, Raine are expected to report to the Department of Digital, Culture, Media and Sport (DCMS) with their assessment of the best offers. It is unclear if the club will have any say, with a spokesperson unable to comment on the process. Raine will make a decision around the preferred bidder and the government will only step in once they have received satisfactory evidence that Abramovich will not make any financial gain.
