Raine Group confirms Saudi Media’s bid to buy Chelsea as new Chelsea owner set to be announced
According to latest reports, The Raine Group have confirmed Saudi Media Group’s ‘competitive’ bid to buy Chelsea F.C. after doubts had emerged over the potential investment.
However, reports over a potential bid amounted earlier this week as the Saudi group looked set to become the highest bidder for the west London side.
Since then, however, it was reported, by the Athletic, that no concrete bid from the group had arrived prior to the deadline on Friday 18 March.
Nizaar Kinsella confirmed today, via his Twitter, that the bid had been made, labelling it ‘competitive’ and that there is a hope that it will get shortlisted as one of the favourites.
“Saudi Media’s bid has since been confirmed to me after doubts about its presence emerged. The bid is described as ‘competitive’ and there’s a hope that it gets shortlisted. It’s possible decisions on that will be made as early as Monday morning.
“It was delivered an hour before the deadline. The intention wasn’t to create a media storm, hence going quiet. Delivered one hour before the deadline. Raine has confirmed receipt.”
Ben Jacobs recently reported, on Wednesday, that the group had made a bid of $3.5 billion, which he believes to be the largest offer for the west London club so far.
“Saudi Media Group’s bid is $3.5bn. Think this will be the highest offer given the circumstances but there won’t be much between the handful of serious bidders.”