Chelsea in the Premier League are desperate to get the club sold as soon as possible after the British government imposed sanctions on its owner, Roman Abramovich.
Saudi Media, the largest media group in the Middle East, has made a £ 2.7bn bid to buy Premier League-based Chelsea.
The West London club is desperately trying to get a new owner amid the budget crisis, with their funds dictated by the British government following sanctions imposed on Blues owner Roman Abramovich.
The billionaire’s assets have been frozen in the UK following Russia’s ongoing invasion of Ukraine, although he continues to deny that he has any connection to President Vladimir Putin.
On Saturday, the Premier League confirmed that it had suspended Abramovich’s directorship.
The Blues is now operating under a special license – which will severely limit their sources of revenue – and the three shield sponsors have suspended their partnership, worth £ 40m a year.
Barclays has also suspended the club’s bank account and due to the precarious situation, there is a possibility that the Blues will face financial armageddon until the summer.
This is the context in which the club strives to complete the sale of ownership of the club as soon as possible.
CBS Sports is now reporting that the Saudi media group has made a £ 2.7 billion bid to buy Champions League owners.
Saudi Media owner Mohamed Alkhereiji is a Chelsea fan and is leading a private consortium to buy the club.
Alkhereiji is also the CEO of its parent company, Engineer Holding Group, which was founded by his father, Abdulelah Alkhereiji.
He earned a master’s degree in business administration from the London-based Business School, formerly known as Cass, and previously worked as an analyst at Deutsche Bank in London, sparking interest in the Blues.
Saudi media is generating £ 770 million a year, while attempts to buy the West London club are likely to be backed by another consortium of private supporters in Saudi Arabia, without state involvement.
When Saudi Media’s attempt to bid for Chelsea for the first time was outlined, the willingness to invest in rebuilding Stamford Bridge and the club’s Cobham Training Center Academy, as well as the women’s team, was reportedly at the center of the byte attack.
Chelsea’s for-profit capacity is limited by the stadium’s limited capacity – less than 42,000, significantly smaller than many rival clubs – and having difficulty upgrading due to location and design permits.
Alkhereiji stood behind the new state-of-the-art stadium at Saudi Arabia’s Al Nassr club in Mrsool Park, and it looks like it will be a key factor in convincing the Blues that he is the right investor.
The deadline for submitting rival bids for Chelsea is 18 March.