Chelsea takeover DEADLINE LIVE: Bidding reaches ‘around £3bn’ with ‘three bidders to make cash-only offers’

Good morning Chelsea fans

Bids for Chelsea’s takeover have reportedly ‘already reached £3billion’.

It’s also claimed three of the four consortiums will make cash-only offers and avoid putting debt on the Blues.

The Times claim bids led by Chicago Cubs owners Tom and Laura Ricketts and by Los Angeles Dodgers part-owner Todd Boehly, plus the group fronted by Sir Martin Broughton, confirmed they have enough funding to buy the West Londoners outright.

But it’s not known how the other consortium, spearheaded by Boston Celtics co-owner Steve Pagliuca, are planning to pay.

Four interested parties made it through to the final bidding round, and they presented their offers to Raine Group, the American bank handling the takeover for departing owner Roman Abramovich.

Boehly is leading a consortium considered by many to be the frontrunner as he is joined by Swiss billionaire Hansjorg Wyss and Dodgers majority owner Mark Walter.

The Ricketts family are also in the running but have faced strong opposition from supporters.

Pagliuca is the head of a consortium leading the third bid for the Blues and has brought NBA chief Larry Tanenbaum and club legend John Terry on board.

The only British bid to make it to the final stage comes from British Airway’s chief and former Liverpool chairman Sir Broughton, who is backed by David Blitzer, Josh Harris and World Athletics Chairman Lord Sebastian Coe.

Meanwhile, departing Chelsea owner Abramovich has had £5.4billion worth of assets frozen in Jersey.

The UK government sanctioned the Russian last month after Russia’s unjust invasion of Ukraine, with reports suggesting he has a close relationship with president Vladimir Putin.

That led to Abramovich putting the Blues up for sale as the government handed them a special licence to keep operating.

Now he has been hit by a freezing order in the Channel Islands while local police also searched premises that are “suspected to be connected” to him on Tuesday.

Chelsea director Eugene Tenenbaum’s assets have also been frozen by the government.

Tenenbaum has been penalised in response to Russia’s illegal invasion of Ukraine as well.

The 58-year-old has had his assets frozen as well as being subject to transport sanctions.

That means that any ship or aircraft owned, chartered, controlled or operated by him could be detained if it enters the UK.

The UK government has also sanctioned David Davidovich, an associate of Abramovich.

It has been confirmed that he would be subject to an asset freeze, travel ban and transport sanctions.

The government says both have been sanctioned due to close association with Abramovich

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