The takeover race for Chelsea is approaching its final stages with three parties still in the running to takeover from Roman Abramovich. Consortiums led by Todd Boehly, Sir Martin Broughton and Steve Pagliuca all remain in contention with a final decision previously expected at the start of this week.
However, according to MailOnline, the process has stalled after concerns emerged among the bidding parties about the renovation work needed on Stamford Bridge. Sources told the publication that the worries could lead to each of them reducing their bids, thought to be in the region of £2.5bn.
But that does not mean the process behind the takeover chase is slowing down. The Ricketts family made it through the first round of bidding before pulling out of the running and it was thought a decision would be made from the final three candidates. But included in the same report is the news that another bidder will be eliminated before a final decision is made.
That person is expected to be Boston Celtics owner Pagliuca. Despite recently being endorsed by Chelsea legend John Terry, Pagliuca’s bid is deemed to ‘not offer anything new’ compared to Boehly and Broughton’s bids, sources told MailOnline.
The full statement from Terry’s True Blue movement after endorsing Pagliuca’s bid read: “We are thrilled to have such an accomplished group of individuals who are committed to the long-term interests of Chelsea Football Club. We appreciate this opportunity and would be honoured to create an exciting future for this great football club.”
Elsewhere, Broughton’s bid also received high-profile backing in the past week. Already boasting the advice of athletics legend Sebastien Coe, he has now been joined by Lewis Hamilton and Serena Williams.
“We were contacted and Sir Martin took time to speak to me on the phone and explain his and his team’s goals, if they were to win the bid, which was incredibly exciting,” Hamilton said via Formula1.com.
“From five or six years old I became a supporter of Arsenal but my Uncle Terry is a big blues fan so I’ve been to so many games with him to watch Arsenal and Chelsea play.
“Ultimately I’m a sporting fan. Chelsea is one of the biggest clubs in the world and one of the most successful. When I heard about this opportunity I was like ‘wow’; this is one of the greatest opportunities to be part of something so great.