EPL: Shortlisted Chelsea buyers told to increase their offers
Shortlisted parties involved in the race to buy Chelsea have received confirmation that they can increase their offers for the crisis club.
Sportsmail revealed that consortiums still in the race to take over at Stamford Bridge were seeking clarity over whether they could up their original offers for the club and Raine – the merchant bank advising Chelsea with the sale – have confirmed to the groups that they are permitted to make new and improved bids.
Chelsea boss has been widely praised for his handling of the situation surrounding Roman Abramovich.
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It is understood at least two of the known four parties who have been chosen as preferred bidders are ready to increase their offers – news that could turn process into an auction with Chelsea now set to be sold for nearer the £3billion Abramovich originally wanted.
Raine have set a deadline of April 11 for the second bids.
The New York-based bank have also informed groups that they can meet Chelsea’s key personnel – including head coach Thomas Tuchel and key director Marina Granovskaia – and tour the club’s facilities in the coming days as part of their due diligence process.
Raine, Chelsea and the Government want a sale concluded by the end of next month.
Once an overall preferred bidder is selected, the Government must give the all clear before the winners can take the Premier League owners and directors test.
That fact there is now around five weeks until the anticipated sale provides more time for shortlisted parties to clear up any potential snags.
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For instance, Josh Harris and David Blitzter, who are understood to be providing the bulk of the funding for the bid fronted by Sir Martin Broughton and Lord Coe, and Boston Celtics owner Stephen Pagliuca now have just over a month to divest or dilute their shares in rival clubs according to Premier League and UEFA ownership rules.
Harris and Blitzer own a stake in Crystal Palace, while Pagliuca owns a shareholding in Atalanta.
A bid led by US tycoon Todd Boehly and another from the Ricketts Family – who own the Chicago Cubs – are also among the shortlisted candidates.