Turkish billionaire reveals bid to buy Chelsea off Abramovich, but duo stand clear as frontrunners
Turkish billionaire Muhsin Bayrak has revealed he has made an offer to buy Chelsea, but another duo are the current frontrunners.
The Blues have become a major force in English football under the stewardship of Roman Abramovich. Indeed, no other club in England has won as many major trophies as Chelsea under the Russian.
However, after almost 20 years of service, the landscape for Abramovich has completely shifted in little over a week.
His country’s invasion of Ukraine has seen the Western community put the squeeze on Russian oligarchs. The moves are part of widespread sanctions against Vladimir Putin’s regime.
The UK government have yet to sanction Abramovich. Nevertheless, the 55-year-old made the first move on Wednesday by revealing he is selling Chelsea.
As for who will take over, Swiss billionaire Hansjorg Wyss revealed his interest.
Speaking to The Guardian, though, a representative for Bayrak has now revealed he has made his own offer.
The representative, on behalf of the chairman of AB Grup Holding, said: “Yes we definitely confirm. We have forwarded our offer regarding this to them.”
Bayrak said earlier this week: “We are discussing the terms of Chelsea’s purchase with Roman Abramovich’s lawyers. We’re negotiating signatures. We will soon fly the Turkish flag in London.”
Bayrak has invested in cryptocurrency, energy, tourism and construction and could make Chelsea his latest project.
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New York-based firm Raine Group are overseeing the club’s sale and have set a March 15 deadline.
Wyss is still in the race, although he stressed that he would not go on the venture alone.
Wyss, Todd Boehly ahead of Bayrak for Chelsea
As a result, ESPN has claimed that Wyss is in talks over forming a consortium with Los Angeles Dodgers part-owner Todd Boehly.
Boehly had interest in taking Chelsea over from Abramovich in 2019.
ESPN claims that the pair are now ready to submit an official bid for the club.
Boehly was willing to pay £2.2billion for Chelsea in 2019, but Abramovich reportedly hopes the increased interest drives up the price.
Joe Ravitch, co-founder of Raine Group, told Reuters: “We are not going to rush anything. It is very important that Chelsea have the right owner to guide the club forward.”
Abramovich has said he will donate the net proceeds of the sale to victims of the war in Ukraine.
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