Chelsea News: In the latest episode of Chelsea news, there is finally some positive news for The Blues. It was a challenging period for the club as the ownership practically disappeared overnight and the atmosphere at the club changed.
At a point in time, Chelsea was in deep financial trouble. However, Thomas Tuchel knew that they just had to focus on the season and eventually a solution would emerge.
Since Mr. Abramovich’s departure, many parties showed interest in the bidding for Chelsea’s ownership. The matter which was going on for months in the background finally seems to be over.
American Businessman and investor Todd Boehly has got the nod from Chelsea’s Board. Boehly and his consortium’s bid of £3.5bn look good to the Board and everything is on the verge of completion.
Chelsea News: Todd Boehly’s consortium will have an Exclusivity period to act
As per the latest reports from the Daily Mail, the consortium which also includes Swiss billionaire Hansjorg Wyss will be given a period of 5 to 7 days by the club.
Within this period they have to formally declare their intent and purpose for the acquisition. The Board would expect ambition from the owner in terms of making Chelsea an even bigger club.
The purpose of this period is for both parties to discuss everything and come to an agreement. Before the official announcement comes everyone must be on the same page.
If that is not the case and there is some disagreement then cancellation of the deal is also a probability. In this scenario, Sir Ratcliffe’s bid may stand a chance.
Sir Jim Ratcliffe too made a late attempt but was rejected by the Board
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The proceedings were going on in the background for quite some time. On Friday, US businessman Steve Pagliuca and his group’s proposition was out of the picture.
In a shock for all parties interested Sir Jim Ratcliffe too made a last-ditch attempt to bid for the club’s ownership. However, the club’s board and the bank facilitating the sale -“Raine” is in Todd Boehly’s favor.
In case there is no agreement in the Exclusivity period and then Sir Ratcliffe’s bid comes through, all 3 of the parties will feel hard done by. Since the start of the dealings, there was a certain way of conduct that everyone was to follow.
All 3 of them believe that while they stuck with the rules this last-ditch attempt is not on the fairer side of the scale. There were even calls to check if this bid was even legal.
Although, this is just a what-if scenario. Most probably Todd Boehly’s group will figure things out with the Board in the upcoming week. We can expect an official announcement on our hands pretty soon.