Turkish billionaire Muhsin Bayrak claims he has made Chelsea bid, while Swiss-American consortium preparing offer | Football News
A Swiss-American consortium is preparing to make a bid to buy Chelsea this weekend as a Turkish businessman claims he has submitted an offer for the Stamford Bridge club.
Turkish billionaire Muhsin Bayrak says he is trying to buy Chelsea and although his spokesperson has told us he has made a bid, his claims are being viewed with some scepticism.
Bayrak is quoted in Turkish newspaper Yeni Safak as saying: “We are discussing the terms of Chelsea’s purchase with Roman Abramovich’s lawyers. We are in the negotiation phase. We will fly the Turkish flag in London soon.”
A spokesperson for Bayrak has told us: “First of all yes the news is true. We submitted our offer.”
Bayrak is chairman of construction and investment company AB Group Holding.
The Swiss-American consortium includes Todd Boehly and Hansjorg Wyss. Boehly part owns the LA Dodgers and LA Lakers. He is chairman and chief executive of investment company Eldridge Industries. Wyss is founder and former president of medical manufacturer Synthes Holding AG.
Boehly tried to buy Chelsea from Abramovich for £2 billion in 2019. He has made no secret of his desire to buy a top Premier League club.
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Investment bank The Raine Group are marketing Chelsea’s sale and will ask interested parties to sign a non-disclosure agreement and show proof of funds.
Raine Group co-founder Joe Ravitch has told Reuters: “We are not going to rush anything. It is very important that Chelsea have the right owner to guide the club forward.”
A spokesperson for Egyptian businessman and Chelsea season-ticket holder Loutfy Mansour says he is not bidding to buy the club.
There are only a handful of billionaires who would be able to pay Abramovich’s asking price but any potential sale is complicated by:
- Unease about doing business with Abramovich while he is facing the threat of being sanctioned by the UK Government.
- Reluctance to do any deals involving Russians because of the invasion of Ukraine.
- Lack of confidence in global stock markets because of the invasion.
- In the past there has been lots of interest in buying PL clubs from Russia, China and the Middle East. Unlikely to be the case this time.
- UK Government are preparing legislation which would let them seize the assets of sanctioned individuals without having to pay them compensation.
More to follow….
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