Factbox: Timeline of Chelsea’s sale

[ad_1]

Soccer Football – Premier League – Chelsea v Brentford – Stamford Bridge, London, Britain – April 2, 2022 General view of the corner flag inside the stadium before the match REUTERS/Chris Radburn

Register now for FREE unlimited access to Reuters.com

May 6 (Reuters) – The following is a timeline of the sale of Premier League club Chelsea. A consortium led by LA Dodgers part-owner Todd Boehly and backed by Clearlake Capital has won the bid to acquire Premier League club Chelsea in a deal worth up to 4.0 billion pounds, Britain’s Telegraph newspaper reported.

Feb 24

Chelsea owner Roman Abramovich is named in Parliament as Prime Minister Boris Johnson unveiled Britain’s largest-ever package of sanctions against Russia after the country invaded Ukraine. read more

Register now for FREE unlimited access to Reuters.com

Feb 26

Abramovich gives trustees of Chelsea’s foundation stewardship of the club amid calls in Britain that he be sanctioned over Moscow’s invasion of Ukraine.

March 2

Abramovich says he has decided to sell Chelsea and promised to donate money from the sale to help victims of the war in Ukraine as clamor for sanctions grows, but adds the sale will not be fast-tracked. read more

March 4

A consortium led by American Boehly and Swiss business tycoon Hansjoerg Wyss enters the fray to make a bid for Chelsea. read more

March 10

Britain halts planned sale of Chelsea and imposes sanctions on Abramovich, effectively placing the club under government control. read more

The team is allowed to carry on playing but the government said it was open to selling the club so long as Abramovich himself did not benefit.

See also  Police heard officer rib break while performing CPR on Sheku Bayoh

March 11

Potential buyers for Chelsea told to approach the government. The club is permitted to operate under strict conditions which prevent transfer deals and new ticket sales while club merchandise store is closed. read more

March 12

The Premier League board disqualifies Abramovich as a director at the club after he was sanctioned by the government.

March 13

British property developer Nick Candy says he will give Chelsea fans a seat on the board if he buys the club and also provide short-term funding. read more

March 16

The owners of US baseball team the Chicago Cubs team up with Citadel founder Ken Griffin to work on a bid to buy Chelsea. read more

March 19

Former British Airways chairman Martin Broughton says his consortium bidding for Chelsea comprises of wealthy investors from around the world. World Athletics President Sebastian Coe joins the consortium. read more

March 24

British government amends Chelsea’s special license to allow the club to sell tickets to fans for away games, with all revenue going to competition organisers. read more

March 25

US Bank Raine Group, overseeing the club’s sale, adds Boehly’s group, the Ricketts family and Broughton’s group to the shortlist of bidders.

April 12-13

American investor Stephen Pagliuca hints at being prepared to divest his interest in Italian club Atalanta to buy Chelsea as he prepares to submit a bid. read more

NBA chairman Larry Tanenbaum and former Chelsea captain John Terry join Pagliuca’s bid. read more

April 15

The Ricketts family pulls out of the running to buy Chelsea citing “unusual dynamics around the sales process”. read more

See also  Price of milk could increase by 50 per cent as farmers face spiraling costs

April 21

Former tennis world number one Serena Williams and seven-times Formula One world champion Lewis Hamilton join Broughton’s bid to buy Chelsea. read more

April 29

The consortium led by Boehly is in exclusive negotiations to buy Chelsea for $3 billion. read more

Pagliuca’s group is told they are not the ‘preferred bidder’ and are out of the running but British businessman Jim Ratcliffe says he made a late bid to buy Chelsea. read more

May 5

Abramovich denies media reports that he has asked for his loan to Chelsea — reported to total 1.5 billion pounds ($1.85 billion) — to be repaid. read more

Ratcliffe says he is not giving up a bid to buy Chelsea despite apparent rejection from Raine. read more

May 6

A consortium led by LA Dodgers part-owner Todd Boehly and backed by Clearlake Capital has won the bid to acquire Premier League club Chelsea in a deal worth up to 4.0 billion pounds, Britain’s Telegraph newspaper reported.

The proposal has now been sent to the government and Premier League for approval.

($1 = 0.8097 pounds)

Register now for FREE unlimited access to Reuters.com

Compiled by Rohith Nair in Bengaluru;

Our Standards: The Thomson Reuters Trust Principles.

[ad_2]
www.reuters.com

Related Posts

George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

Leave a Reply

Your email address will not be published.