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Friday, March 18, 2022

At Least One Bidder Matched Roman Abramovich's £3BN Valuation of Chelsea Ahead of March 18 Deadline

  At least one bidder has matched Roman Abramovich's £3 billion valuation of Chelsea ahead of the deadline for bids to be submitted o...

 

At least one bidder has matched Roman Abramovich's £3 billion valuation of Chelsea ahead of the deadline for bids to be submitted on Friday March 18. It was previously reported that the Russian, who was forced to put Chelsea up for sale after sanctions from the UK Government, valued his Club at £3 billion .

It has since been revealed that he will not take any profits from the sale after his assets were seised. And now, as per Times Sport , the initial £3 billion valuation has been met as bids were submitted to Raine Group.

Raine Group are in charge of proceedings after being given the green light by the Government to continue with the sale process, meaning that they will have the final say over the bidding process and parties involved. It is thought that the merchant bank will assess bids over the weekend and whittle it down to two or three preferred options early next week.

The bid to have met the valuation is not believed to be the Todd Boehly consortium, who think that their stewardship of the Dodgers and their expertise in property development — given the need to rebuild Stamford Bridge — makes them an attractive proposition after bidding £2.5 billion .

Elsewhere, it has been reported that Saudi Media Group made a bid of $3.5 billion , which would meet Abramovich's valuation of the Club. This would make them the highest bidder, however, Raine Group have stated that it will not necessarily be the highest bidder that wins the race for the Blues.

Going into Friday's deadline, there could be 27 bids going in with up to 12 of these not yet made public . It is sure to be a busy weekend for the Blues and Raine Group ahead of the takeover.

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