Chelsea bidders begin to learn their fate as takeover looms

The Raine Group has had football fans across the globe on pins and needles over the last few days as Chelsea’s future rests in the New York company’s hands. Friday evening marked the end of the initial bidding process as Raine closed the door on any new offers. The group has spent time since then reviewing each submission and there were reports that a shortlist would be announced shortly after all bids were submitted. The sporting world has seemingly stood still since Monday, awaiting more information regarding the sale of the prestigious football club.

Many prominent names threw their names into the hat, regardless of whether they were able to financially back claims they were interested or not. Global UFC superstar Conor McGregor represented the wackiest interested party while Chelsea legend John Terry also announced he would be looking to join a consortium as part of a “True Blue” bid. All of the talk is now over though and the bidders are beginning to learn their fate in the process on Thursday afternoon.

Chelsea bidders learn their fate as The Raine Group narrows down the list

It’s important to note that The Raine Group’s initial filter in the early days seems to have been speed. Time is of the essence given what’s at stake in this situation, so first and foremost, Raine reportedly wanted to ensure the process could be completed swiftly. Another crucial factor is financial backing. It goes without saying that bids that failed to meet the guidelines set out by the club were quickly disregarded. Raine went above and beyond to require a ton of extra documentation in this process to, you guessed it, move things along quickly.

The most notable names excluded from the supposed shortlist are the Saudi Media Group and New York Jets owner Woody Johnson. The Saudi consortium made a lot of noise amongst fans as it seemed to have the most financial might amongst public bidders. However, there are obvious issues regarding any potential takeover. Its ties—or lack thereof—to the Saudi Arabian government would’ve needed investigating by the UK government and the Premier League would’ve also needed to ensure there were no sporting integrity questions raised by their national affiliation with Newcastle‘s new owners.

Reports are still surfacing at the time of publishing, but as things stand, the two parties confirmed to be included on the shortlist are the Ricketts family and the Todd Boehly-led consortium.

The latter has been viewed as the frontrunner all along for numerous reasons. Firstly, there are a handful of billionaires who are behind Boehly in this project. Boehly’s involvement in and of itself is a positive given his experience in the business of sports. He is a part owner of numerous franchises in the United States, including the Los Angeles Dodgers, Lakers and Sparks. The 46-year-old has a track record of helping run successful sports teams, while also showing a desire to grow women’s athletics. This is seen as a huge plus to the Blues, who have been at the forefront of the growth of women’s football for over a decade.

The Ricketts check a lot of those boxes, as well. They have the financial backing—adding Ken Griffin to their bid late on—and the experience in sports. The Nebraska-born family currently owns the Chicago Cubs. However, there is a lot of added and unwelcome baggage that comes with the Ricketts. There is a controversial political history, questionable ownership tendencies and a series of despicable and discriminatory comments made by the patriarch.

Chelsea fans have pushed back against the Ricketts’ attempts to purchase the club, but the family’s financial strength has always been thought of as an added bonus in the eyes of The Raine Group. For this reason, they have made it to the next stage, despite hundreds of thousands of Tweets discouraging Raine from allowing them to advance any further.

Lastly, the two bids that are largely up in the air right now are those of Nick Candy and Sir Martin Broughton. One or both are expected to make the shortlist as the Raine Group prepares to move onto the next stage. The takeover of Chelsea is expected to be completed in a number of weeks as all involved parties look to return to regular day-to-day operations.

Who do you want to be the Blues’ next owner? Let us know your thoughts in the comments and on Twitter! Furthermore, remember to #NoToRicketts.