Following recent threats of sanctions by the UK President after Russia’s invasion of Ukraine, Chelsea’s Russian owner Roman Abramovich has decided to put the club up for sale after 19 years in charge. Several names have emerged with Turkish billionaire Muhsin Bayrak also revealing his plans to buy Chelsea.
The Turkish has become the latest high-profile bidder to enter the race according to widespread reports in England. Chelsea have also received several significant offers and the London-based club also expecting more official bids to be submitted.
Muhsin Bayrak is a construction, energy and technology magnate in Turkey and has also lodged an official bid for Chelsea.
“We can definitely confirm our bid for Chelsea. We have forwarded our offer regarding this.”
Seda Bayrak, general manager of Bayrak’s AB Grup Holding, told Britain’s PA news agency.
On behalf of Roman Abramovich, merchant bank The Raine Group has been handling the process of bidding and possible handover of the club. Abramovich had bought the club in 2002 and the team went on to 19 trophies under his tenure – a golden chapter in Chelsea’s history.
Abramovich has come under intense pressure from the British government because of his close ties with Russian President Vladimir Putin who decided to invade Ukraine, resulting in widespread outrage and protest. In order, to protect Chelsea from external noise, the Russian billionaire decided to put up the club for sale. The British government has been targeting Russian banks, businesses and tycoons.
The sale process is expected to go on for quite a while. It is at the stage of gathering bids and a final decision regarding reviews of bids will take place only after all offers are submitted.
American billionaire Todd Boehly is said to be the most high-profile bidder and the LA Dodgers co-owner teamed up with Swiss magnate Hansjoerg Wyss.
“We will fly the Turkish flag in London soon,”
“We are negotiating the terms of the purchase of Chelsea with Roman Abramovich’s lawyers. We are in the negotiation phase for the signatures.”
said Bayrak.
