The world is fearing a potential World War 3 as Russia invaded Ukraine in February under the leadership of their President Vladimir Putin and its impact was since witnessed in England too. The Russian oligarch Roman Abramovich had to face sanctions for his possible connections with Putin and his club Chelsea also had to face disastrous outcomes. Roman was eventually forced to put up the club for sale and many investors have shown interest in buying the Blues.
Abramovich’s quoted value of £4 billion is unlikely to be met by any potential buyer at the moment. All the bids submitted by more than 20 interested parties during the last weekend were believed to be in the range of £2-3 billion. The shortlist of buyers is likely to come down to three or four by this week. All in all, the sale is set to make Chelsea the most expensive sports team in history.
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Currently, Brooklyn Nets holds that position as Joseph Tsai bought the NBA team and their home arena Barclays Center for a whopping £2.5 billion back in 2019. Chelsea on the other hand is sure to exceed that amount as the reports suggest that the eventual value of the sale may stand somewhere between £3-3.5 billion. The sale is expected to be finalized by mid-April and the UK Government is believed to be not interfering with the sale. Raine Group, the New York-based merchant bank is reportedly handling the transactions and decisions under the guidance of Roman Abramovich.
The next task for them is to cut down the list of potential buyers to three or four. The fans may play a big part in the decision and some of the investors are already receiving a lot of resistance from the fan’s side. At the end, who will get their hands on the club is difficult to predict at the moment and the final shortlist may receive a lot of political influence. But all in all, the current owner and his team will do everything in their capacity to put the ownership of Chelsea into the hands of another future capable owner.