Chelsea

Revealed: Main reason why Saudi Media failed to make final shortlist of Chelsea bidders

One of the discussions very much in the agenda right now is the sale of Chelsea Football Club. Bids have been received from different parties with the final shortlist of bidders revealed by Raine group last week.

Todd Boehly, the Ricketts family and Sir Martin Broughton are among the four successful bidders to have made it to the final shortlist and a final bid would still be submitted by all four parties before the sale can be finalized and the club handed over to the successful bidder.

According to Sky Sports’ Mark Kleinman, the Raine group, a bank handling the sale of Chelsea Football Club has told the four remaining bidders that it intends to present a preferred bid to the UK government as early as the week April 18 falls under, with a speedy sale being prioritised.

It is in the midst of this information that another piece of information from the same source emerged regarding Saudi Media Group, one of the unsuccessful bidders in the first round.

Mark Kleinman revealed that the group which was very much a fan favourite due to the presumption that they are wealthy had its bid to buy Chelsea largely debt-financed.

This goes to say that reports that emerged, ranking the Saudi Media group as one of the richest bidders might not be true as there is no report that has explained why they had to borrow to bid for Chelsea.

Whatever the case may be, they are out of the race and Chelsea have already moved on to other prospective buyers.

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