Still has a say! Roman Abramovich sends fresh demand to Raine Group ahead of Chelsea sale
On March 2, Roman Abramovich put Chelsea up for sale, six days after Russia’s invasion of Ukraine started and appointed New York based merchant bank Raine Group to run the sales process.
However, after eight days putting Chelsea up for sale, Abramovich was sanctioned by the British government and Chelsea became a frozen asset.
According to The Athletic, Abramovich will still have a say in the sale of Chelsea as Chelsea are not a confiscated asset but he won’t benefit from the sale with proceeds initially going into a frozen bank account.
The Athletic also adds that at least 20 interested parties made bids for Chelsea last week even though only six were known publicly.
With Abramovich still having a say in the process, the Russian has instructed Raine Group to select the best bid, not necessarily the biggest. Abramovich wants Chelsea to go to a group or individual with a proven track record, a vision for the club and easy access to funds.
It remains to be seen which group that Raine Group would select as the best to become Chelsea’s new owners.