Revealed: Why possible Chelsea takeover Saudi Media Group would be bigger than Manchester City’s and Newcastle United’s owners
Billionaire Roman Abramovich is facing multiple troubles in his Chelsea sale after the British government sanctioned the Russian and his club. Abramovich announced last month he is putting the club on sale amidst immense pressure from the British government.
However, Many investors braced up for the Chelsea takeover after Abramovich announced it. Swiss billionaire Hansjorg Wyss, American businessman Todd Boehly, billionaire property developer Nick Candy, and even UFC star Conor McGregor all registered their interest in buying Chelsea. However, the sanctions complicated things. Chelsea’s sale will not proceed now without the British government’s formal permission.
But the sanctions haven’t stopped the activities of potential buyers of the club. Saudi Media Group has now emerged as a firm candidate for the Chelsea takeover. The trillionaire group has reportedly launched a bid too led by Mohamed Alkhereiji. Mohamed Alkhereiji is the chief of the Saudi Media Group and a Chelsea fan.
Alkhereiji had a longstanding wish of owning a football club and Chelsea has presented him the opportunity. The most interesting part of this potential takeover is that it would outclass the wealth of Manchester City and Newcastle United‘s owners. The news has raised the eyebrows of many, along with the Chelsea fans who are upbeat despite the sanctions on the club.
SAUDI MEDIA GROUP’S BID FOR CHELSEA TAKEOVER
Alkhereiji has reportedly bid around £2.7 billion for the Chelsea takeover. However, Alkhereiji has a net worth of £1.7 billion but his bid is around £2.7 billion. The extra £1 billion comes from Mohammed bin Khalid Al Saud who is backing Alkhereiji. A member of the House of Saud, Khalid Al Saud is ready to back Alkhereiji per reports from CBS Sports. And this is where Saudi Media Group pips Manchester City and Newcastle United’s takeover. The House of Saud are the ones who have their assets in the range of a staggering £1.19trillion. An amount that eludes the riches of both Manchester City and Newcastle owners.
The Abu Dhabi Group, along with Sheikh Mansour who own Manchester City have a net worth in the range of £9.2billion. While Newcastle’s Public Investment Fund of Saudi Arabia, which recently took over the Magpies have a net worth of £500 billion. The House of Saud clearly boasts a net worth that is far wealthier than City and Newcastle’s owners.
However, unlike City’s and Newcastle’s owners, Khalid Al Saud won’t single-handedly bid for a Chelsea takeover. Khalid Al Saud would rather support Alkhereiji and table their offer as a consortium. This move may come after Newcastle faced a lot of hurdles in their takeover by the Public Investment Fund of Saudi Arabia. The Premier League thoroughly investigated the potential Newcastle takeover from a financial viewpoint and then only green-lit the move.
Meanwhile, Roman Abramovich is yet to be seen at Stamford Bridge after announcing the sale. However, he was spotted at the VIP lounge at Ben Gurion International airport in Lod, Israel. This was the Russian’s first public appearance since the British sanctioned him. Though Abramovich is prohibited from entering the UK since 2018, his Israeli citizenship helps him travel to the country for short periods of time.