Meet the Bidders Lining Up to Buy Chelsea From Roman Abramovich
Bloomberg News
,(Bloomberg) -- Roman Abramovich’s sale of Chelsea Football Club is drawing a growing numbers of bidders for one of the most coveted assets in world football, ahead of a deadline on Friday.
The Russian billionaire put the London-based club up for sale after Russia’s invasion of Ukraine, which prompted the U.K. government to place him under far-reaching sanctions for his ties to President Vladimir Putin’s regime.
Whoever takes over will have a tough act to follow: When Abramovich bought the club for about 150 million pounds ($197 million) in 2003, it hadn’t won the English top division since 1955. Since his arrival, the club has won 21 trophies, including five domestic and two European Champions League titles.
Here are the names in the frame to succeed Abramovich:
1. Todd Boehly
Former Guggenheim Partners President Todd Boehly is bidding for Chelsea in partnership with Jonathan Goldstein, a property entrepreneur who was involved in a bid for rival Tottenham Hotspur FC in 2014. Boehly bid for the club back in 2019, only for Abramovich to turn him down, according to Dow Jones. A part owner of the Los Angeles Dodgers baseball team, he has just agreed terms to sell his CBAM Partners to Carlyle Group Inc. for $787 million.
2. Nick Candy
U.K. property developer Nick Candy said he has funding in place to make an offer for Chelsea and is in talks with potential partners about teaming up for a bid. As a property developer, any bid could include plans for a new stadium. Chelsea fans would have a role in the running of the club if his consortium wins, Candy said.
3. Ken Griffin and Ricketts Family
Citadel founder Ken Griffin has teamed up for a takeover bid of Chelsea with the Ricketts family, owners of the Chicago Cubs. If they were to succeed, they would join a number of other American owners in the Premier League, including the Kroenke family at Arsenal and the Glazers at Manchester United.
4. Martin Broughton
Martin Broughton is a former chairman of Liverpool Football Club and is planning to put in an offer for Chelsea, with funding from backers in the U.K., U.S. and Europe, Sky News reported. He is being advised by investment banker Michael Klein.
6. Josh Harris
The co-founder of Apollo Global Management Inc., worth about $7.6 billion, remains undecided on an offer, Bloomberg reported on March 8. If Harris, 57, succeeds in his bid for the club it would be the latest in a string of sports investments: He’s already a minority owner of the NFL’s Pittsburgh Steelers and has stakes in the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. He is also looking at bidding for the NFL’s Denver Broncos and owns a stake in another Premier League club, Crystal Palace FC. He would likely have to offload that holding to bid for Chelsea.
6. Oaktree Capital
Oaktree Capital, the U.S. asset manager run by Howard Marks, is planning to bid alone or as part of a wider consortium, Financial Times reported. Its previous forays into football include the provision of debt finance to a Luxembourg-based company that owns Chinese retailer Suning’s stake in Inter Milan.
7. Woody Johnson
New York Jets owner and former U.S. ambassador to the U.K. Woody Johnson is working on an offer, according to ESPN. He would be the fourth NFL owner to hold a stake in a Premier League franchise if he takes over Chelsea. Johnson, 74, is an heir to the Johnson & Johnson consumer products fortune. He has owned the Jets since 2000. The team last won more than half its games in 2015.
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