The Saudi Media Group has dropped out of the race to buy Chelsea from Roman Abramovich
The Saudi Media Group has withdrawn from the bidding for Chelsea Football Club.
This was confirmed on Thursday by the group's CEO, Khalid AlKhudair, on his official Twitter account.
AlKhudair expressed disappointment that their attempt to purchase the Blues was canceled before it reached the final stage of the process.
"We did our best, but are disappointed," he wrote. We will, however, continue to bleed #Blue. "
Chelsea's decision was relayed to the group by Raine Group, an investment bank.
The bank will now pursue alternative avenues in its search for a new owner to succeed Roman Abramovich."'
According to Goal, the Tod Boehly consortium, the Ricketts family, and Sir Michael Broughton's joint proposal with Lord Sebastian Coe are thought to be dominating the race to buy the club.
Raine Group is likely to write an email to the other suitors in the coming days informing them of the status and scrutinizing their proposals.
Shortlisted Chelsea bidders to make cash purchase as Abramovich sorts debt
According to the PA news agency, all four shortlisted bids to buy Chelsea Football Club will be totally supported by cash.Steve Pagliuca's Chelsea bid will be debt-free, like the other three competing offers.The four shortlisted consortiums have until Thursday to make their final offers to Raine Group, an American investment bank.Raine will then select a preferred bidder, with Chelsea's sale set to take place next month.The Blues' sales could reach 3 billion pounds,...
After two decades as the owner of Chelsea Football Club, the Russian billionaire; Roman Abramovich has today announced that he would be selling the club.Naijacrawl has earlier reported that the Russian steps aside from stirring the club's affairs.Roman Abramovich feels sad that he would be ridiculously part of the club after twenty years.He assured the fans and players that he wouldn't be selling the club for a business/profit basis, but it is only those that have t...
Abramovich Leaves Chelsea
After Twenty years of leading the London club; Chelsea to unprecedented victories, Roman Abramovich as step aside as the president and CEO of Chelsea football club.This was made known in a club statement. The new leadership of Chelsea will be anchor by the Chelsea Charitable association until a substantial CEO is chosen.Abramovich took over of Chelsea in 2002, and the club has won all relevant trophies since then, and the most successful club in England within that...
Download Naijacrawl App today
Fastest way to read on the go
Download the Naijacrawl App.