Won't sell Chelsea for 10 years: Bidders asked to give ownership guarantee

Bidders looking to buy Chelsea from Roman Abramovich have reportedly been told to guarantee that they won't sell the west London club for at least ten years. The close to the two-decade tenure of the Russian oligarch at Stamford Bridge is nearing its end, with the club to be sold in a deal worth around 2.5 billion pounds.

Reports say the merchant bank handling the auction, Raine Group, is likely to announce the preferred bidder for the Blues in the coming days. According to a Sky Sports report, the auction handlers have contacted three shortlisted bidders -  Todd Boehly, Sir Martin Broughton and Steve Pagliuca - asking them to provide commitments that they won't sell Chelsea until 2032 at the earliest.  

The bidding consortiums have reportedly been told the 10-year demand would only apply to the controlling parties in each consortium. Whoever replaces Roman Abramovich would also be able to raise money by issuing additional shares to provide additional funding for the Blues. Any guarantee would be included in the sale contract, making the ten-year stay legally enforceable.  

The report states that the decade-long commitment 'reflects an attempt to ensure stability and continuity at Stamford Bridge'. 

Also read: Chelsea legend John Terry, fans disheartened after Rudiger agrees Real Madrid move

Boston Celtics owner Pagliuca and NBA chief Larry Tanenbaum have previously committed to 'lifetime ownership' of the Blues if their joint bid were to be successful. "Larry and I have known each other for over 20 years, and we are committed to this being lifetime ownership. It is a long-term commitment that both families want to make, "Pagliuca, who also owns a stake in Serie A side, Atalanta, said.

It was reported last week that Formula One icon Sir Lewis Hamilton and 23-time Grand Slam champion Serena Williams have joined Broughton's consortium to buy the west London club, each pledging about 10 million pounds to the former British Airways and Liverpool chairman's bid.

Also read: Lewis Hamilton confirms Chelsea bid; reveals was bullied into being Arsenal fan

Meanwhile, American billionaire Boehly is considered to be a prime candidate to take over at Chelsea. He is the owner of Eldridge, an investment company, and also the co-owner of the LA Dodgers.

All three bidders are understood to have indicated that they would pay well over £2bn to buy the club, with a minimum further investment of £1bn committed to the Stamford Bridge stadium, academy and women's team.

Chelsea was put up for sale on March 2, with owner Abramovich confirming the news in a statement on the club's website. The Russian oligarch was subsequently sanctioned by the UK and EU as they reacted to Moscow's invasion of Ukraine.