Clarification provided on Saudi offer to buy Chelsea from Roman Abramovich

By Conor Laird Published: March 19, 2022 6:19 pm
Last Updated: March 20, 2022 9:28 am

Clarification provided on Saudi offer to buy Chelsea from Roman Abramovich

An insight into the efforts of the Saudi Media Group to secure ownership of Chelsea Football Club has been provided on Saturday evening.

The subject of ongoings at Stamford Bridge has of course taken its place front and centre in the headlines across the month to date.

This comes with beloved owner Abramovich, whose wealth has proven so crucial to Chelsea’s emergence as a European heavyweight, having first confirmed his intention to ‘give trustees of Chelsea’s charitable Foundation the stewardship and care of Chelsea FC’.

This came owing to mounting scrutiny surrounding the Russian oligarch based on his ties to Vladimir Putin, amid the country’s ongoing invasion of Ukraine.

LONDON, ENGLAND – APRIL 16: Chelsea owner Roman Abramovich looks on from the stands during the Barclays Premier League match between Chelsea and Manchester City at Stamford Bridge on April 16, 2016 in London, England. (Photo by Paul Gilham/Getty Images)

Whilst, initially, it appeared as though Abramovich had little intention to part ways with Chelsea on a permanent basis, though, the situation, two weeks ago, took a drastic turn.

Amid the very real threat of having his assets seized by the UK government, the Blues’ long-time chief released a 2nd statement, confirming that the club, indeed, had been put up for sale:

”I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC. As I have stated before, I have always taken decisions with the Club’s best interest at heart. In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.

”The sale of the Club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and Club. Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.”

Statement from Roman Abramovich.

— Chelsea FC (@ChelseaFC) March 2, 2022

Saudi bid latest

A whole host of speculation has since spread surrounding the ownership situation in west London, with several high-profile investors understood to have made clear their interest in taking Chelsea off the hands of Roman Abramovich.

And, as alluded to above, on Saturday, a fresh insight into the efforts of one such suitor has been provided.

The info centers on a bid put forth by the cash-laden Saudi Media Group of Saudi Arabia.

Amid concerns that the SMG had missed the deadline set out at Stamford Bridge, it has been assured by a number of reliable sources that, in fact, a proposal was tabled for full control of Chelsea Football Club.

The offer, in turn, is set to be taken into consideration over the coming days, with Saudi Media remaining a ‘serious contender’ to set up camp in the English capital ahead of next season:

Saudi Media put their bid in for Chelsea last night. More on @GoalNews: https://t.co/ulBW2bSBXt #CFC https://t.co/te4sQw1FkN

— Nizaar Kinsella (@NizaarKinsella) March 19, 2022

This notion Saudi Media Group ‘missed’ their bidding deadline is not only incorrect but fails to understand the intricacies of how this type of sale works. SMG have bid and remain a serious contender to buy Chelsea.

— Ben Jacobs (@JacobsBen) March 19, 2022