The battle to buy Chelsea has taken yet another twist as two LA Dodgers co-owners will go head-to-head with bids to purchase the Premier League giants.
The reigning European champions were put on the market back in February following Russia's invasion of neighbouring Ukraine. Current Blues owner Roman Abramovich, who is an alleged associate of Russian president Vladimir Putin, announced he intended to sell the west London club following the UK Government's decision to sanction him.
A special licence has enabled Chelsea to remain in operation, however various restrictions have hindered the club's ability to function properly over recent months. With a quick-fire sale targeted, countless consortiums have expressed an interest in purchasing the Blues and the list of potential buyers has been whittled down to four, however the takeover battle has now taken another twist.
Following the news that Peter Guber will form part of a consortium fronted by Boston Celtics co-owner Steve Pagliuca, two rivals LA Dodgers co-owners will go head-to-head as they back rival bids. Mark Walter, another member of the the Guggenheim Baseball Management group which own the Dodgers, is already part of Todd Boehly's consortium.
Walter, who himself only teamed up with Boehly five days ago, is CEO of the investment firm which has an estimated net worth of $340 billion (£261bn). The American billionaire’s group, who have already undertaken a visit to the club’s Cobham training complex, now face competition from a familiar face.
On Wednesday, it was revealed Walter's fellow Dodgers co-owner Guber will form part of Pagliuca's rival conglomerate. Boston Celtics co-owner announced Canadian sports teams' owner Larry Tanenbaum will be joining the bid as co-managing partner alongside a number of other high-profile players.
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In addition to Guber, Pagliuca's consortium will include ex-Disney CEO Bob Iger, journalist Willow Bay, Facebook Co-Founder Eduardo Saverin, businesswoman Elaine Saverin, B Capital co-founder Raj Ganguly, venture capitalist Jim Breyer, investor John Burbank and tech entrepreneur Div Turakhia. Movie producer Guber also holds stakes in NBA outfit Golden State Warriors and MLS franchise Los Angeles Football Club, as well as the LA Dodgers.
Tanenbaum, who was named alongside Guber within Pagliuca's takeover bid, stated: “The decision to partner with Steve was an easy one as we share similar values and passion for sports. Once we started speaking, it was clear that we share the same long-term vision and goals for Chelsea.”
With Guber and Walter coming up against each other, the four-way battle to take over the Blues has taken yet another fascinating twist. In addition to Boehly and Pagliuca, the Ricketts family and Sir Martin Broughton are also in contention to seize control of Chelsea.
The most controversial of the quartet is undeniably the Ricketts family - owners of baseball team Chicago Cubs. Many Blues fans have already objected to the family purchasing the club following revelations that patriarch Joe Ricketts made Islamophobic comments in a series of emails, which were leaked back in 2019.
The remaining four bidders must submit their final offers to buy the Blues by Thursday April 14. New York merchant bank the Raine Group - who are overseeing the sale - will then aim to present a preferred successor to Abramovich to Downing Street next week.
Due to the Russian's assets being frozen, no bid can proceed until the UK Government have given it the green light. The purchase of Chelsea is expected to cost the chosen bidder up to £3bn.
