March 14, (THEWILL) – The Saudi Media Group is reported to have made a £2.7 billion bid for Chelsea.
After the UK government put him to its sanctions list on Thursday, following Russia’s invasion of Ukraine, current Blues owner Roman Abramovich, is still trying to sell the club.
With over 20 different organisations showing interest, competing American-backed consortiums were considered frontrunners to secure a deal. Saudi Media Group, one of these groups, has ramped up their efforts to buy Chelsea by submitting their first offer.
The bid is estimated to be worth £2.7 billion, according to Ben Jacobs, Mohamed Alkhereiji, the owner of SMG, is a Chelsea fan, and his “private consortium” is supposed to have no direct government ties.
However, Mohammed bin Khalid Al Saud, the CEO of the Saudi Telecom Company, is assisting in the financing of the bid. In addition, Mohammed bin Salman Al Saud, Saudi Arabia’s crown prince, appears in Alkhereiji’s social media profile photo.
To avoid a repeat of the Abrahamovich crisis, those in charge of Chelsea’s sale are known to prefer new owners, who are shielded from alterations in the geo-political scene. If Al Saud was actively involved, this was unlikely to be the case.
His ties to the Saudi Telecom Company would also be a source of concern. Chelsea are currently sponsored by rival telecommunications conglomerate Three, which will most certainly end their partnership if the Saudi Media Group joins.
SMG’s bid includes promises to prolong the contracts of Antonio Rudiger and Cesar Azpilicueta, as well as spend extensively at Stamford Bridge.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
