Saudi Media Group Makes Multibillion-Dollar Offer to Buy Chelsea FC

© REUTERS / DAVID KLEINGeneral view of a Chelsea banner inside the stadium before the match
General view of a Chelsea banner inside the stadium before the match - Sputnik International, 1920, 15.03.2022
Abramovich, the club's current owner, was recently sanctioned, and his assets were frozen, impacting the team. Despite this, the sale of Chelsea, which he announced earlier this month, is back on track, due to the UK government's approval of the process, as long as the billionaire does not receive money from the sale.
The Saudi Media Group has made an offer of 2.7 billion pounds ($3.5 billion) to buy Chelsea Football Club from Roman Abramovich, as the deadline for submitting bids approaches.
According to sports journalist Ben Jacobs, the chairman of the consortium, Mohamed Alkhereiji is a big club's fan who has "no direct government links."
Jacobs also said that Alkhereiji is receiving assistance in locating financing and partners, allegedly from Mohammed bin Khalid Al Saud, but that he has yet to receive financial backing.
According to Goal, Saudi Media has previously stated that the club's key players Antonio Rudiger and Cesar Azpilicueta's contracts will be renewed, as well as the reconstruction of their Stamford Bridge stadium will be done.
The consortium is also said to be interested in investing in Chelsea's academy and women's team.
Chelsea fans are pictured with a message for Roman Abramovich outside the stadium before the match  - Sputnik International, 1920, 06.03.2022
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Saudi Media reportedly has a yearly revenue of roughly 770 million pounds ($1 billion). The company is a fund that invests extensively in media, advertising, and sports brands around the world. It has headquarters in Dubai, UAE, and Saudi Arabia.
Various parties have expressed interest in purchasing the club, with Saudi Media being one of the names mentioned in connection with the purchase of the World and European Champions.
Currently, the UK government has identified two parties as "serious contenders" to purchase the club. The Saudi Media Group, on the other hand, has submitted a bid for the team and might be considered the frontrunners to take over, while Raine Group considers all bids for the football club, according to reports.
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