A Saudi Media Group run by Chelsea fan, Mohamed Al Khereiji has reportedly emerged as the club’s latest bidder, with $3.5b offered.
The Saudi Media Group is just one of many prospective buyers who have surfaced — including Los Angeles Dodgers part-owner Todd Boehly. As of last week, a report suggested there were at least 20 bidders.
Prior to the imposed sanctions, billionaire Russian owner Roman Abramovich tried to sell the team himself for about $4 billion though Forbes valued it at $3.2 billion.
While the sale was initially paused, The Raine Group, which is facilitating it, got approval to reopen the bids until March 18.
A sale could be finalized within four-to-six weeks. In the meantime, however, the club has a license to remain operational until May 31, despite the sanctions.
The British government has seized ticket sales and merchandise revenue. And the team is also hemorrhaging sponsors: Hyundai and Three have already suspended business with Chelsea, along with its charity partner, Plan International.
