Former Chelsea and England players John Terry and Claire Rafferty are reportedly ready to front up a consortium in an attempt to launch a £250million bid to acquire a 10 per cent stake in the Premier League club.
The Blues were put up for sale by Roman Abramovich at the start of the month, with the Russian billionaire set to end his 19-year stay at Stamford Bridge. The 55-year-old has subsequently been sanctioned by the UK government for his links to Vladimir Putin, forcing the club to operate under strict financial regulations.
That new operating licence prohibits Abramovich from making any money from the sale, but the government is happy to allow a takeover in order for Chelsea to continue to have the ability to fulfil its fixtures and obligations. A number of parties are said to be in the running, with US merchant bank Raine Group facilitating the sale, along with the British government.
The deadline for bids has been set for Friday (March, 18) at 9pm UK time, when the list of prospective suitors will then be whittled down to three, before the best offer will be accepted. According to Goal, Chelsea legends Terry and Rafferty are set to announce their intention to join a fellow bid, with the ‘True Blue’ consortium hoping to buy a percentage of the club.
Terry, 41, has recently delved into the world of NFTs and the bid is said to promise a ‘high tech approach’ which amongst other things, would allow supporters, players and staff to buy fan tokens and effectively own shares of the club. Along with the two former players, controversial Conservative Party donor David Meller is also involved in the consortium.
Meller made headlines during the coronavirus pandemic after he was awarded £164million in Covid contracts after his firm was referred to a “VIP lane”. Meller Designs was awarded six personal protective equipment supply contracts from the Department of Health and Social Care, with it subsequently being revealed he had donated nearly £60,000 to the Tory party since 2009.
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The businessman was also forced to step down as a non-executive director for the Department for Education in 2018. This came after an undercover report into the Presidents Club Charity Dinner, of which Meller was joint chairman, revealed stories of sexism and harassment at the event.
Harley Kisberg, founder of iTech Media, and Stanford Loudon, an investment banker are also part of the True Blue consortium, which is hoping to attach itself to another of the bidders in the race. Plans have already been presented to prominent fans, according to Goal, with Kai Havertz and Cesar Azpilicueta reportedly in line to be offered shares for their exploits.
The idea of offering provisions for supporters to purchase shares in the club could be appealing, after the Chelsea Supporter’s Trust put forward the idea of a ‘Golden Share’ which would protect key items of club heritage. This would have allowed the Blues to veto the controversial decision to join the European Super League, something which the club would be forced to U-turn on following supporter backlash.
And while Raine and the government are unlikely to make bidders adhere to that demand, British billionaire and Chelsea fan Nick Candy has revealed plans to appoint a fan representative to the board, should he be successful.
"A representative for Mr Candy told the Evening Standard: “Mr Candy cares hugely about the future of the club and believes that the fans and the community are central to its continued success. Should his bid be successful, Mr Candy would advocate for a fan representative to join the Board so supporters become part of the decision-making process.
