According to reports, Chelsea has been tasked with selecting the preferred bidders to secure a takeover.
The Raine Group, an American merchant bank, is overseeing the club’s sale, but the final decision will be made by Chelsea and the board.
Following the deadline last Friday, Raine has been reviewing credible bids with the club, with less than ten’serious bids’ claimed.
Ben Jacobs now reports that, in addition to the fact that a decision and shortlist of four bidders will be announced by Thursday morning at the latest, chairman Bruce Buck has had an input and Chelsea have ‘effectively chosen’ the list of preferred bidders to proceed to the next stage of the takeover process.
The Times backs up these claims by reporting that one bidder, Sir Martin Broughton, confirmed that Buck and directors Eugene Tenenbaum and Marina Granovskaia would select the preferred bidders.
All parties are now waiting for a decision on who made the four-party list, as Raine looks to move on to the next step, which will be to narrow down the four to its preferred bidder, who will then be able to take them to the UK Government for approval.
Once this is completed, a license for a sale can be granted, and the new prospective owner/s must pass the Premier League Owners and Directors’ test before a sale can be fully confirmed.
Raine hopes to close the deal as soon as possible, with the takeover signed, sealed, and delivered by the end of April.
