Saudi Media-led consortium have entered the race to purchase Chelsea, with Roman Abramovich set to part ways with the club.
According to Goal, a Saudi Media-backed private consortium have entered the race to purchase European champions, Chelsea, from current owner Roman Abramovich.
The Russian oligarch has come under the firing line thanks to his nation’s invasion of Ukraine, forcing him to relinquish control of the Blues and sell them off. One of the most successful clubs over the last two decades, Chelsea have won every single trophy they could under Abramovich’s ownership.
A mega club, there is bound to be interest in the Blues from across the world. The Raine Group, an America-based merchant bank, is responsible for overseeing the change of guard. The Saudi led consortium have already informed the institution of their interest and now appear to be among those in contention.
There is no shortage of interested parties, and there are, as of yet, around ten potential buyers showing serious interest in securing Chelsea. This could very well work in Abramovich’s favour, landing him the £3 billion he is seeking to relinquish ownership.
Investment in the middle east is not new in the English Premier League. Manchester City have thrived thanks to it, and Newcastle United also appear to be on the verge of exciting times thanks to their new backers. Whether Chelsea will join the list remains to be seen.
As things stand, it remains unknown who the individual parties that form the Saudi consortium are. Given the politically sensitive setting, it remains to be seen if they will be cleared to make their move. Newcastle experienced something similar before their sale was allowed to go ahead.
The consortium’s ownership could very well see them tap into the lucrative pan-American broadcast market. Saudi Media is a fund that has huge investments in media, advertising and sports brands worldwide. There is every reason to believe they can help take brand Chelsea to the next level.
The aforementioned consortium isn’t the only party in the fray. Turkish businessman, Muhsin Bayrak has already confirmed his interest in securing Chelsea and has already made an offer. The businessman appears to have a headstart on his Saudi Arabia-based rivals and it remains to be seen if the die is already cast.
Abramovich’s original plan is to accept a bid by March 15. He is, however, open to extending it. One way or another, it would appear that it is just a matter of time before a new beginning dawns at Stamford Bridge. Given what Abramovich achieved, the bar is already set quite high.