The consortium led by Swiss billionaire Hansjorg Wyss and LA Dodgers part-owner Todd Boehly is expected to make a bid to buy Chelsea in the next 48 hours, with at least one other unnamed American businessman on board.
Roman Abramovich confirmed that the club was up for sale on Wednesday night as he seeks to sever ties with the UK amid increasing calls for him to face government sanctions after Russia's decision to invade Ukraine.
The 55-year-old vehemently denies any direct links to Russian president Vladimir Putin and says he has done nothing to deserve sanctioning.
According to MPs speaking under parliamentary privilege, he has been considered a person of interest by the Home Office for some time.
Reports last night of there being several bids of around £3billion submitted have been dismissed by sources and the Wyss-Boehly group is currently viewed as the most likely next owner.
That is despite Wyss speaking publicly about the move when it is the norm for such deals to be made in complete secrecy.
Abramovich said in a statement on Wednesday that a sale will not be rushed but all indications are that it could be completed swiftly once a bid he deems acceptable is made.
Chelsea's external valuation is of about £1.8billion and Abramovich is unlikely to receive close to the £4billion quoted as an asking price.
Boehly failed in an attempt to buy the club for about £2.2billion in 2019 but carried out due diligence that remains pertinent now, speeding up the process with Wyss, an 86-year-old known for his investment in left-wing causes rather than interest in sport.
Yesterday Richard Masters, the Premier League chief executive, said at a Financial Times event that it could take only 10 days for a change of ownership to be completed but warned that it would all collapse if government sanctions are imposed on Abramovich.
“The quickest any deal has taken is 10 days," he said. "That’s not to say that deal can’t be beaten but it would normally take a number of weeks and it all depends on the complexity of the deal.
"Provided the information is easily accessible, easily understandable and were given all the right answers it can be done relatively quickly. If the owner is sanctioned by the UK, I don’t think it will work."
Masters also said that it was "unsustainable" for Abramovich to continue as owner.
