April 28, (THEWILL) – Chelsea’s protracted search for a new owner has apparently taken a new turn, with sanctioned owner Roman Abramovich reportedly wanting an additional £500 million for the club.
Abramovich’s request was communicated to the trio of billionaire consortia bidding to buy the club within the last 48 hours. The Russian wants this figure guaranteed in order to raise the amount donated to charity organisations as part of the sale.
What this means is that Chelsea’s worth is now expected to reach at least £2.5 billion, with £1 billion of that going to charity, as Abramovich’s sanction in February means he will not get any of the proceeds.
Since the start of the Russia’s invasion of Ukraine, Russian oligarchs have been targeted, and Abramovich was a well-known Putin confidante. He had already planned to sell the club before the sanctions came into force.
Chelsea became subject to a strict government licence in order to prevent Abramovich from profiting from the situation.
The three remaining bidders for Stamford Bridge side have began their last pitches, with the preferred bidder anticipated to be chosen this week – before Abramovich’s latest demands.
A consortium formed by former Liverpool chairman Sir Martin Broughton and another led by LA Dodgers part-owner Todd Boehly are still in the running to claim the club. The third group comprises Boston Celtics co-owner Steve Pagliuca and Toronto Maple Leafs supporter Larry Tanenbaum.
Boehly’s consortium reportedly met with Chelsea’s board on Tuesday at Stamford Bridge, with the other two bidders expected to make their final presentations on Wednesday. Chelsea and the Raine Group, the New York bank in charge of the sale, are expected to reveal their favourite bidder by the end of the week.
Last week, as THEWILL reported, Sir Lewis Hamilton and Serena Williams both contributed £10 million to Broughton’s bid. Although the sports greats appear improbable investors in a Premier League club, Williams already owns an interest in Angel City FC of the National Women’s Soccer League.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
