Ex-footballer John Terry has been spotted at Cheltenham Festival today to watch the Gold Cup race amid reports he is launching a bid to buy Chelsea Football Club. The Chelsea and England legend and his wife Toni were guests of Cheltenham fashion designer Jade Holland Cooper, reported Gloucestershire Live.
Terry, who is currently involved in a coaching role at Chelsea's academy, joined stars such as Pixie Lott to watch the action on the final day of racing. There has been speculation recently that he is set to launch a bid for the London club, after its owner, the Russian-born Roman Abramovich, had sanctions placed upon him by the British government due to his alleged links to Vladimir Putin.
There are reports that Terry and former women’s player Claire Rafferty are behind the bid by a consortium True Blue to take over the club. They are said to be prepared to pay £250 million for a 10 per cent stake in the club and raise the rest of the money by allowing fans to purchase £100 shares in Chelsea.
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Tory donor David Mellor is also said to be part of the consortium, while Cotswold property tycoon Nick Candy is said to be another bidder. Candy's close associates have told a journalist that he is working on a £2.5billion bid for Chelsea, which could be submitted by the end of the week. Roman Abramovich has valued the club at £3billion but the Russian is looking for a quick sale.
The club are currently operating under strict financial regulations, which has brought Abramovich's 19 year stint at the club to an end. Their new operating licence prohibits Abramovich from making any money from the sale, and the club cannot make any sales or player transfers, which includes matchday tickets.
However, the government is happy to allow a takeover in order for Chelsea to continue to have the ability to fulfil its fixtures and obligations. A number of parties are said to be in the running to buy the Premier League club, with US merchant bank Raine Group facilitating the sale, along with the British government.
The deadline for bids is 9pm tonight, when the list of prospective suitors will then be whittled down to three, before the best offer will be accepted.
