All four shortlisted bids to buy Chelsea will be entirely funded by cash, the PA news agency understands.
Steve Pagliuca’s bid for the Blues will match the other three competing offers in having no debt, a source close to the Boston Celtics co-owner’s consortium confirmed.
“We have been consistent throughout that this will be a credible and compelling bid,” said a source close to Pagliuca’s bid team.
The four shortlisted consortiums must submit their final offers on Thursday to the Raine Group.
The New York merchant bank will then select a preferred bidder, with Chelsea’s sale still expected to be completed in May.
The Stamford Bridge club’s sale could yet reach a sports franchise record £3billion.
- Todd Boehly and Jonathan Goldstein
- Sir Martin Broughton and Lord Sebastian Coe
- Ricketts family
- Steve Pagliuca and Larry Tanenbaum
Pagliuca confirmed the make-up of his consortium on Wednesday, with NBA chairman Larry Tanenbaum as co-managing partner.
Russian-Israeli billionaire Roman Abramovich put Chelsea up for sale on March 2, amid Russia’s continued invasion of Ukraine.
The 55-year-old was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin.
Chelsea have been granted a special Government licence to continue operating, though under strict terms.
Abramovich cannot profit from Chelsea’s sale, but had already vowed to write off the club’s £1.5billion debt.
Raine Group’s preferred bidder will have to pass Premier League owners’ and directors’ tests, with the final step the granting of a new Government licence to process the sale.
Meanwhile, Chelsea director Eugene Tenenbaum was hit with an asset freeze by the Foreign Office on Thursday.
The move would not impact Chelsea’s sale, but the Premier League could opt to disqualify Tenenbaum as a director.
Foreign Secretary Liz Truss said: “We are tightening the ratchet on Putin’s war machine and targeting the circle of people closest to the Kremlin.”
Chelsea supporters groups have claimed to have found it “difficult to engage” with Pagliuca’s bid team.
The Chelsea Supporters’ Trust (CST) released a lengthy statement, praising extensive talks with the Boehly, Ricketts and Broughton bids.
Pagliuca is understood to have spoken with the CST on Thursday however.
Deadline for final bids is today— Chelsea Supporters’ Trust⭐️⭐️ (@ChelseaSTrust) April 14, 2022
“The Chelsea Supporters’ Trust, Chelsea Pitch Owners, Chelsea Pride, the Chelsea Women Supporters Group, Chelsea Supporters’ Club & Chelsea Supporters’ Group are disappointed that the late announcement of the bid from the Pagliuca consortium has meant it has been difficult to engage meaningfully with them,” read the CST statement.
“Whilst initial contact has now been made with some groups, this bid has not yet spoken at length with any of the aforementioned supporter groups.
“Based on the lack of meaningful discourse thus far, The Chelsea Supporters’ Trust, along with the Chelsea Pitch Owners, Chelsea Pride, Chelsea Women Supporters’ Group, Chelsea Supporters’ Group & Chelsea Supporters’ Club will need further reassurance on the future of relations between the club and supporters should this bid succeed.
“Over the past few weeks, the Chelsea Supporters’ Trust, along with other supporter groups and the Chelsea Pitch Owners have engaged extensively with three of the prospective owners; the bids led by Todd Boehly, Martin Broughton and the Ricketts family.
“While we have highlighted the significant concerns of our membership and supporters more generally in respect of one of these bids, we are grateful for the outreach and continued commitment to supporter dialogue of all three prospective owners. The successful bidder must continue this dialogue.”
