Chelsea Expected To Become Most Expensive Sports Team From Sale
Chelsea are expected to become the most expensive team in the history of sport, when Roman Abramovich finally sells to one of the perspective buyers.
Abramovich announced he was putting the club up for sale following Russia's invasion of Ukraine, 19 years after buying the club from Ken Bates.
Sanctions placed by the government on the Russian billionaire put the sale of the club in some doubt but they have allowed it to still happen, and allowed the team continue playing despite the sanctions.
The 55-year-old was reportedly hoping for around £3.5 billion to sell the club, which is said to include the £1.5 billion they 'owed' him in loans that he wasn't going to call in, instead passing it on to the potential new owners.
Experts thought that the oligarch was likely to get less than that but, according to the Athletic, the club could now be sold for around £3 billion.
That would make them the most expensive sports franchise in the history of sport, surpassing the £2.5 billion spent in 2019 by Joseph Tsai for NBA side the Brooklyn Nets.
The report claims that around 20 interested parties came forward with bids to New York-based company the Raine Group, who are helping Abramovich sell the club.
Worldwide interest from so many bidders is thought to have driven the price above the one Tsai paid for his basketball franchise.
Whether or not the final price is as high as the £3 billion mark, the Blues are extremely certain to become the most expensive Premier League team.
That current record belongs to Manchester United, with the 13 times Premier League winners being sold to the Glazers for £790 million, around the same time Abramovich bought Chelsea.
The Raine Group are expected to make a decision on the winning bid by mid April and the club will then need to apply for an exemption from the sanctions on Abramovich.
With the billionaire's bank accounts frozen the proceeds will not go directly to the owner, although there is no clear plan for what will happen.
Abramovich does still have the right to pick who he sells to, or veto the Raine Group's decision, with claims he could veto the sale to anyone from a country that has placed sanctions on Russia.
However, the billionaire does not want to see the Blues go out of business, and nor do the government, and he will likely sell to whichever bidder has the best bid in place for them.
In the 19 years since he purchased the Stamford Bridge side, Chelsea have won the Premier League five times, the FA Cup another five, two Champions League titles and two more in the Europa League.
Earlier this year they won the FIFA World Club Cup, meaning they had won every trophy possible under Abramovich.
It is likely to be the final piece of silverware they win under his ownership, even if no one knows what will happen next.
Topics: Chelsea, Premier League, Roman Abramovich
Ryan Sidle