Chelsea bidders ordered they must not sell club for TEN YEARS as part of £2.5bn deal to take over from Roman Abramovich

Chelsea bidders ordered they must not sell club for TEN YEARS as part of £2.5bn deal to take over from Roman Abramovich

April 25, 2022

CHELSEA bidders will have to guarantee they won't sell the club for at least ten years.

That is according to Sky News, who report that the three shortlisted candidates will have to stick around for a decade if they win the bidding war.



American bank Raine, who are handling the takeover process on behalf of departing owner Roman Abramovich, have contacted Todd Boehly, Sir Martin Broughton and Steve Pagliuca regarding the terms.

Boehly, Broughton and Pagliuca now have to provide guarantees they won't sell the club until 2032 the earliest, while reports suggest a fee of around £2.5billion will be enough to buy the West Londoners.

Any guarantee would be included in the sale contract, which would make the ten-year stay legally enforceable.

Boston Celtics and Atalanta co-owner Pagliuca as well as NBA chief Larry Tanenbaum have previously committed to "lifetime ownership'" of the Blues.

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Pagliuca said: "Larry and I have known each other for over 20 years and we are committed to this being a lifetime ownership.

"It is a long-term commitment that both families want to make."

But they are facing ex- Liverpool chairman Broughton, who is backed by Harris Blitzer Sports & Entertainment as well as Formula One star Sir Lewis Hamilton and tennis legend Serena Williams.

But LA Dodgers co-owner Boehly, who is supported by Clearlake Capital, Hasnjorg Wyss and Jonathan Goldstein, is considered the favourite to take over.

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Abramovich has been sanctioned by the UK government following Russia's unjust invasion of Ukraine.

The Russian oligarch has had his assets frozen due to his alleged close ties with controversial president Vladimir Putin.

Raine could announce Chelsea's new owners within the next few days.

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