Shortlisted bidders ready to buy Chelsea FC
All four shortlisted bids to buy Chelsea FC will be entirely funded by cash, the PA news agency understands.
Steve Pagliuca’s bid for the Blues will match the other three competing offers in having no debt, a source close to the Boston Celtics co-owner’s consortium confirmed.
“We have been consistent throughout that this will be a credible and compelling bid,” said a source close to Pagliuca’s bid team.
The four shortlisted consortiums must submit their final offers to the Raine Group on Thursday.
The New York merchant bank will then select a preferred bidder, with Chelsea’s sale still expected to be completed in May.
The Stamford Bridge club’s sale could yet reach a sports franchise record of £3 billion ($3.94 billion).
Pagliuca confirmed the make-up of his consortium on Wednesday, with NBA chairman Larry Tanenbaum, as co-managing partner. Russian-Israeli billionaire, Roman Abramovich, put Chelsea up for sale on March 2, amid Russia’s continued invasion of Ukraine.
The 55-year-old was then sanctioned by the British government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin.
Chelsea have been granted a special government licence to continue operating, though under strict terms.
Abramovich cannot profit from Chelsea’s sale but had already vowed to write off the club’s 1.5 billion pounds debt.
Raine Group’s preferred bidder will have to pass Premier League owners’ and directors’ tests, with the final step the granting of a new government licence to process the sale.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
“Katsina State is Atiku’s political base because it is his second home.”
He said public-private partnership was the best approach to reviving the moribund seaports, saying the time to take those steps was now.
He said that the council resolved to strengthen relevant government agencies to perform their constitutional duties of checking the menace.
“We must, therefore, do everything within our powers to champion causes towards addressing the yearnings of our people,” he said.
“As it is through such discourse that we can achieve the best outcomes for all Nigerian citizens,’’ Mr Akpabio said.
The items distributed were sewing machines, grinding machines, water pump machines, cooking stoves, cooking pots, mattresses, mosquito nets, mats, soap, buckets, and blankets.