Former chancellor GEORGE OSBORNE is ‘parachuted in’ to help Todd Boehly-led consortium buy Chelsea… as Raine Group prepare to announce their preferred bidder to take over the Premier League club
- Chelsea are up for sale, with three different consortiums trying to buy the club
- One interested consortium is fronted by American businessman Todd Boehly
- Former chancellor George Osborne is now backing this Boehly-led consortium
- The preferred bidder to buy Chelsea is expected to be announced shortly
Former Chancellor of the Exchequer George Osborne is now involved in the bid fronted by Todd Boehly to buy Chelsea, according to reports.
Osborne held the senior political position between 2010 and 2016 before moving on to become the editor of the Evening Standard from 2017 to 2020.
He joined the advisory firm Robey Warshaw last year, and they have now agreed to advise the Todd Boehly-Clearlake Capital consortium to try to get a deal over the line for the Blues, as reported by Sky Sports.
Former chancellor George Osborne is now involved in one of the bids to buy Chelsea
Osborne is backing the bid led by American businessman Todd Boehly (above)
Osborne is a life-long Chelsea fan, and has a season ticket at Stamford Bridge.
Chelsea were put up for sale on March 2, with owner Roman Abramovich confirming the news in a statement on the club’s website.
Abramovich was subsequently sanctioned by the UK and EU as they reacted to Russia’s full-scale invasion of Ukraine.
There are three bidders left in the running to take over from Abramovich following the decision by the consortium led by the Ricketts family to withdraw their offer on Friday.
Roman Abramovich confirmed he was putting the Premier League club up for sale last month
The Ricketts family had received backlash from Chelsea supporters after emails from Joe Ricketts back in 2012, where he stated ‘muslims are my enemy’, resurfaced.
The Boehly-led consortium will now receive advice from Robey Warshaw and Goldman Sachs, but there are still two rival offers left on the table.
One is headed by former Liverpool chairman Sir Martin Broughton, while the other is fronted by Boston Celtics co-owner Steve Pagliuca and NBA chairman Larry Tanenbaum.
Final offers to buy Chelsea from all interested parties had to be submitted by Thursday.
The merchant bank, Raine Group, who are overseeing the sale, are expected to announce their preferred bidder in the near future.