Some 200 different parties have already expressed interest in purchasing Chelsea, with all potential buyers asked to submit a detailed background report on all investors amid the growing concerns over appropriate club ownership. Those intent on making an offer ahead of the March 18 cut-off are also being asked to file details of their motives for the club moving forward as they enter the official bidding process.And today, according to reports, a Saudi consortium sent an official offer to buy Chelsea from Roman Abramovich by tabling a 3.5 billion USD bid. CBS reports that the largest media organisation in the Middle East – Saudi Media Group, led by Chelsea fan Mohamed Alkhereiji – are now seeking support in finding funding and backers from Saudi royal Mohammed bin Khalid Al Saud.Mohamed Alkhereiji has previously attended matches at Stamford Bridge and attended the University of London’s Cass Business School, now renamed the Bayes Business School.Saudi Media generates an estimated 1 billion USD per year, hence the need to bring in outside backers.Unlike Newcastle FC’s owner the Public Investment Fund (PIF), the Saudi Media Group is not directly owned by the Saudi government however, Khalid Al Saud is chair of the state-owned Saudi Telecom Company, in which the PIF owns shares.I can confirm Saudi Media Group have made a £2.7bn ($3.5bn) offer to buy Chelsea. Mohamed Alkhereiji is a Chelsea fan and leading a private consortium. No direct government links.— Ben Jacobs (@JacobsBen) March 14, 2022 Also, property tycoon and Chelsea fan, Nick Candy, attended Sunday’s match against Newcastle. There are also reportedly three American-led consortiums interested in buying the club.According to Sky Sports, Candy is offering to provide short-term funding to Chelsea if it faces a cash crisis and he has also proposed giving fans a seat on the board.’I’ve supported Chelsea since I was the age of four,’ Mr Candy told Sky Sports. ‘My dad was asked to play for Chelsea. I love Chelsea.’I don’t mind where it ends up, even if it’s not with me, as long as it’s in safe hands.’One hundred per cent [the fans need to be included in ownership] and they should be involved. Both on the board and economically.”As long as we have enough shirts and a bus to drive, we’ll compete’LA Dodgers part-owner Todd Boehly remains well-placed for a purchase, with Chicago Cubs owner Tom Ricketts also understood to be in the running.New York-based merchant bank Raine are advising Chelsea on the sale while the Blues director Marina Granovskaia is also offering interested groups guidance during the process – Sportsmail reports.Potential bidders have been provided a checklist of details they must submit with their offers, which parties are being advised should be made to Raine, the Premier League and the UK Government.Bidders will be asked to supply a proof of funds letter, a full list of advisers, a business plan and a timescale for completion to accompany their offers. Potential buyers are also being asked to provide their motivations for the offer and a detailed report on the background of all the investors amid a growing focus on the issue of suitable club ownership in the Premier League.Klopp agrees with UK’s decision to sanction ChelseaBuyers are also advised that a cash offer and being the highest bidder will be crucial, however other well-placed sources insist that any consortium or individual’s ability to preserve employment at all levels at the club and fulfill their existing financial obligations will also be a key factor when deciding which bid is successful.’At some point we have to trust the process, the process of the league to control who owns a club.’ said Chelsea manager Thomas Tuchel.’We are famous employees because we speak into a camera and on TV but in general we are only employees and need to trust the process.’Sometimes we need to ask questions of the process, how this goes. It’s maybe an ongoing process and it will never end and just reminds us to be aware and conscious about it and not look away.’Wed 23:00: (4.10) Lille (3.50) Chelsea (2.00)Potential buyers would be asked to meet qualification criteria, which could include a minimum price, commitments to completing the process by a certain date or even more detailed conditions, like agreeing to a fan representative being involved in running the club under the new owners.If the qualification criteria were met by more than one bidder, then the buyer can be initially selected on the basis of who has offered the most money.’It appears to be proceeding as a ‘purse bid’ process similar to that for a world title boxing event. With a deadline of 18th March for bids,’ said Stephen Taylor Heath, Head of Sports Law at JMW Solicitors.’In such a scenario the banking entity handling the sale, the Raine group, would literally hold an auction style process and announce the winning bidder. ‘The bidders may have to place a deposit to show a genuine interest and access to funds. The bidders may be allowed to undertake an element of due diligence prior to making the bids on the 18th.”The question is who evaluates those bids and on what criteria as it would not be Mr Abramovich as the seller which would be the normal scenario,’ added Mr Taylor Heath.Chelsea Potential Buyer, Mohamed Alkhereiji is a Chelsea fan, leading a private consortium and has ‘no direct government links’.#CFC pic.twitter.com/L6le0dEBfl— Comr. Ekenemuse Wilson (@ComrEkenemuse) March 14, 2022 On Friday, Chelsea asked the Government to ease sanctions to save them from going bust in 17 days. The Premier League club have now been handed a new licence to continue operations and the European champions are still locked in negotiations with the Government to ease restrictions.The BBC reported that under the new agreement Chelsea’s permitted spend of 650,000 USD increases to 1.17 million USD on costs for home games.Costs of travel, allowable, remain at 26,000 USD per game, which prompted manager Tuchel to offer to drive the team to Lille himself if necessary, for the Blues second leg encounter in the UEFA Champions League Round of 16.
