Chelsea takeover: Saudi bid fails as Raine Group launches shortlisting process

J

he Saudi Media Group consortium is no longer in the running to buy Chelsea.

The American investment bank Raine Group has received numerous offers and is controlling the sale of the club following the sanction imposed by the British government on current owner Roman Abramovich.

Potential Saudi investors were among those seen as favorites as a shortlist is whittled down, alongside the Ricketts family, Todd Boehly, Woody Johnson and Sir Martin Broughton.

The Saudi bidders have been told their bid was unsuccessful at the prequalification stage, according to the PA news agency.

New York’s investment bank, the Raine Group, has begun the process of briefing potential Chelsea buyers on the status of their offers.

And the Saudi offer is the first to fail.

Chelsea, meanwhile, have been cleared to sell tickets for their Wembley FA Cup semi-final against Southampton and the Champions League clash with Real Madrid.

Additional PA Reports


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