London-based investment firm submits bid to buy Chelsea

Investment firm Aethel Partners are the latest group to say they have bid for Chelsea before the Friday deadline.

Headed by Portuguese entrepreneur Ricardo Silva, the London firm is pledging to put in £50m immediately.

That will serve as bridging funding to help ease financial issues the club faces and to redevelop Stamford Bridge.

Several parties have already expressed their interest in buying the Premier League club from Russian billionaire Roman Abramovich.

His attempt to sell Chelsea has been halted after he was sanctioned by the UK government.

That move came in the wake of Russia’s invasion of Ukraine, with Abramovich understood to have strong ties to Russian president Vladimir Putin.

Meanwhile, American PR executive Barbara Charone and British journalist Daniel Finkelstein have teamed up with the Hansjorg Wyss and Todd Boehlybid to buy Chelsea.

Charone is a heavyweight within the music industry, having worked with the likes of Madonna, Rod Stewart and Depeche Mode.

She has been a Chelsea season-ticket holder since 1981.

Finkelstein is also a prominent lifelong Chelsea fan. He was executive editor of The Times and became a member of the House of Lords in 2013.

The bid believes having two such prominent match-going Chelsea figures as part of their team provides an authenticity before Friday’s deadline for bids to be received.

More than 20 credible parties are interested in buying the Premier League club.

British businessman Nick Candy said earlier this month he was exploring “a number of options for a potential bid”.

Former Chelsea striker Gianluca Vialli, who co-owns Tifosy, a mergers and acquisitions company for the football sector, announced on Wednesday that he is working with Candy on his bid.

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The Ricketts family, who own Major League Baseball team the Chicago Cubs, also said they are leading a bid from a group of investors, while London Olympics chief Coe joined ex-Liverpool chairman Sir Martin Broughton’s bid.

Abramovich had his British assets, which includes Chelsea, frozen last week and was disqualified as a director of the club.

The Blues are allowed to continue operating after a special licence was issued by the UK government,

This also ensures Chelsea’s staff are paid and allows existing season ticket holders to attend matches, but a new licence will need to be issued for the club to be sold.

Abramovich has owned Chelsea since 2003, with the club winning 21 trophies during his tenure.

Source: BBC