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Chelsea takeover facing ‘minor delays’ but still expected to be completed by end of May

A takeover of Chelsea is facing ‘minor delays’ but is still expected to be completed by the end of next month.

Final proposals from four interested parties are set to be submitted this week and the Raine Group – the US merchant bank handling the sale – and club officials could submit their preferred bid to the Government next Thursday.

 

The Mail are reporting that availability issues regarding the prospective new owners could lead to ‘minor delays’, though it is hoped that a takeover can be completed by the end of May.

The Premier League want to conclude their owners and directors test and have a new owner in place by May 31, the date when the licence issued by the Government following the sanctions placed on Roman Abramovich expires.

The bidders looking to end Abramovich’s 19-year reign at Stamford Bridge include a British-based consortium fronted by Lord Sebastien Coe and Sir Martin Broughton, the former Liverpool and British Airways chairman.

There is also a trio of US-based consortiums including the Ricketts family, who own the Chicago Cubs and have teamed up with Cleveland Cavaliers owner Dan Gilbert and hedge fund tycoon Ken Griffin.

LA Dodgers co-owner Todd Boehly and Steve Pagliuca, the owner of the Boston Celtics, make up the remainder of the quartet of interested bidders.

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