English football’s biggest soap opera – the battle for Chelsea FC itself – seems to have entered its final stages.
The Raine Group, a New York-based company, has chosen to sell Premier League football on behalf of Roman Abramovich, a Russian professional whose assets have been confiscated by the British government, in preparation to list its players. people like to race as soon as possible this week. He would choose one of three groups sponsored by American investors, each of which released thousands of dollars.
In the selection of the winner, the Chelsea board, Abramovich and Raine will be closer to the end for one of the worst, and richest, players in the history of today’s game: a beautiful competition that brought together European athletes and American money; Chelsea legends and foreign poseurs; the whole part of the galaxy of people and groups with formation in a team that Abramovich billions have transformed into a tennis powerhouse in its nearly two decades.
The sale, when the order is finally closed, is subject to the maximum price paid to the sports team, with an estimated value of $ 3 billion. Abramovich is currently not allowed to receive any of that income.
One of the early contenders in the race, a team led by Todd Boehly, a billionaire entrepreneur and owner of the Los Angeles Dodgers, was on track to win. But Boehly and his associates have been challenged by a major business venture between Josh Harris and David Blitzer, members of the board that governs the Philadelphia 76ers of the NBA, which last week This adds Formula 1 driver Lewis Hamilton and tennis star Serena Williams. to their level.
The third final was led by Steve Pagliuca, owner of the NBA’s Boston Celtics, and included Larry Tenenbaum, director of Maple Leaf Sports & Entertainment, owner of the NBA’s Toronto Raptors, hockey’s Toronto Maple Leafs and Major. League Soccer’s Toronto FC
Representatives of all three organizations, including a business group led by Raine led by one of the company’s founders, Joe Ravitch, were called to London this week, where each team must make the final decision.
Survivors have walked the path now littered with performers, some having to be real and others not. A prediction by the Ricketts family that owns the Chicago Cubs, for example, has a deep pocket but was torpedoed after a letter of Muslim protest submitted by the patriarch Joe Ricketts – first announced in 2019 – recurrence.
MMA champion Conor McGregor offered £ 1.5 billion (approximately $ 1.8 billion) to Chelsea via Twitter, then removed the announcement and, presumably, the claim. A Turkish-speaking businessman who claimed to have talked to Abramovich’s lawyers about the price, and who boasted that “we will fly the Turkish flag in London soon,” later in the day end to competition. He said his lawyers had sent his request to the wrong email address.
For Chelsea players, staff and fans, a decision may not come quickly. The club has been operating under very different financial constraints since the sentencing of Abramovich, a friend of Russia’s president, Vladimir V. Putin, was announced. A special government license that allowed the team to work out of the club held up to 10,000 unsold tickets for its home games, and forced the club to limit its investment. travel and close group shops.
Uncertainty about the future has affected groups in the field, too. Chelsea are expected to lose two key defenders, Antonio Rüdiger and Andreas Christensen, when their contracts expire at the end of the season. A deal with change could not occur until the new owner replaces Abramovich.
“It would be best” to resolve the issue as soon as possible, Chelsea manager Thomas Tuchel admitted on Sunday after the win over West Ham. “But you can not pull the grass to make it grow faster.”
The uniqueness of the sale, however, means that any team that has allowed the preferred candidate will only eliminate the first issue. The British government should be blessed with a sale to get it passed, and it would have to say strict rules to ensure that no money goes to Abramovich. He said all the money it’s should be donated to the new base “for all victims of the war in Ukraine,” but plans for charity remain unclear.
Future new owners will need to be vetted and approved by the Premier League. That can be a problem for Harris and Blitzer: they now have Chelsea rivals London, Crystal Palace, and therefore have to cut their stakes before taking charge of another club. Premier League.
Pagliuca, meanwhile, are investing in Italian side Atalanta, a club that has featured with Chelsea in the Champions League in recent years.
As the deadline for final requests was extended once, and then again, the process became more and more leaked in the media, leaving some candidates for privacy. report anxiety and seek correction. Raine has not mentioned the previous process from talks with the Financial Times that Ravitch was frustrated, and unsupported, asking for Chelsea price tag.
“I guess if Chelsea and all the top Premier League clubs could be worth more than $ 10 billion in five years,” he said, in what was seen as a race to drive more sales. again. “So I think anyone who buys Chelsea today at the price we are talking about is getting him to steal.”
Chelsea’s record of success in Abramovich – five Premier League titles and two Champions League crowns – did not come cheap; his net worth from these awards has made him worth nearly $ 2 billion through his own fortune.
It is unknown at this time what he will do after leaving the post. weeks. According to the terms of the sale, every new owner will also be committed to upgrading the team stadium, Stamford Bridge. Abramovich once promised to fund the project, to the tune of $ 1.3 billion, before abandoning plans for 2018 amid tensions that have forced him out of the UK. for many years.
The team will also need to develop its relationship with some key stakeholders. We, the phone company, have postponed its support with Chelsea once the ban against Abramovich was announced, and, fearing it could lead to a dispute, please so that his logo is removed from the team shirt. A few weeks later – for the growing frustration of Our Boss – the logo remained, with the club refusing to use stickers to cover it or ordering new shirts without it.
Fans have been at the heart of the club’s customer base, with much of the discussion now taking place between the business community and pro-profit organizations, and each team has added local representatives in tribute to their Chelsea bona fides. . Boehly is currently working with Danny Finkelstein, a former adviser to the Justice Department. The Harris-Blitzer Association was joined by former British Airways president Martin Broughton, and included former Olympics Sebastian Coe. Pagliuca has won the backing of former Chelsea manager John Terry.
But the sensitivity of the process also suggests how even a mistake can prove costly.
Former Chelsea striker Paul Canoville, Chelsea’s first Black player, revealed this week in a statement of itself that he met with several teams during the tournament but found one after the need. He described the membership of Hamilton and Williams, who had asked to support another team, which was “disrespectful” to Chelsea; benefited since the dismissal of Ricketts betting on his plans to support Chelsea’s base; and acknowledged that the plan by a group to give fans some kind of cryptocurrency technology “goes over my head.”
Now Canoville has announced public support for the Boehly-led campaign.