Saudi Media Group’s bid to buy Chelsea football club rejected by Raine

6 months ago 18

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Saudi Media Group person not made it connected to the shortlist of preferred bidders to bargain Chelsea, with US merchant slope Raine informing them that their connection has been unsuccessful.

Roman Abramovich has instructed Raine to oversee the process of selling the westbound London nine and they person been contacting unsuccessful bidders since past Friday, with an announcement confirming the palmy bidders expected imminently.

While the Saudi connection was believed to beryllium 1 of the biggest, Raine is looking astatine a assortment of factors – not conscionable worth of the bid – to find the champion offer.

One of the factors thought to person worked against the Saudi bid was the imaginable trouble successful passing the acceptable and due persons trial – with Saudi’s Public Investment Fund taking a twelvemonth to get support to bargain Newcastle United.

But Chelsea request a speedy merchantability to guarantee they tin proceed to operate, thing an connection from Saudi Media Group could not guarantee.

SMG manager Khalid Al Khudair, 1 of the members progressive successful the Saudi takeover bid who besides happens to beryllium a Chelsea fan, confirmed that the bid had been unsuccessful connected Thursday.

He tweeted: ‘We did our best. Disappointed, but we volition proceed to bleed blue.’

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