The owners of the Chicago Cubs baseball team have bolstered their bid for Chelsea FC by adding a new team of bankers ten days before a shooting between four men decided us long-term owners of the club.
Sky News learned that Ricketts’ circle of relatives and hedge fund billionaire Ken Griffin hired Jefferies, the US-based investment bank. To advise and potentially help fund a formal offer for the Blues.
Jefferies’ appointment, along with that of Lazard, an adviser to the Ricketts-Griffin provision, highlights how Wall Street banks are vying for roles in what could be the most lucrative sale of a sports franchise in history.
Goldman Sachs is also involved, as an advisor to a consortium led by Todd Boehly, co-owner of the LA Dodgers, while Michael Klein, a prominent American banker, works with Sir Martin Broughton, former chairman of British Airways and Liverpool FC.
Final deliveries for Chelsea are expected on April 11 and the Cubs will face 3 credible rivals as they compete to succeed Roman Abramovich at Stamford Bridge.
The Ricketts’ participation in the auction prompted complaints from some Chelsea enthusiasts and journalists over racist comments made more than a decade ago by a member of the family circle who is not involved in the bid.
After meeting with fan teams last month, Cubs president Tom Ricketts said the candidacy team had “listened to all of your comments, aggregates from Chelsea Supporters’ Trust, and is grateful that the door is open for us to demonstrate our commitment to running with fans. “to shield the club’s heritage. “
“It is now up to us to redouble our efforts and obviously outline a vision for our control of the club with diversity and inclusion at the centre. “
Supporters of his offer highlighted the successful ownership of puppies through family, having won the World Series for the first time in a century and having completed a billion-dollar renovation at their home, Wrigley Field, one of the most important historic sports stadiums in the United States. States. .
Earlier this week, an anonymous adviser to one of the bidders allegedly complained that the Ricketts were receiving preferential compensation from the bank in connection with the sale because they were able to secure a meeting with Paul Canoville, the Blues’ first black player. talk about Islamophobic comments made ten years ago.
However, other people connected to other offers said they were also presented to M. Canoville.
A spokesman for the Ricketts-Griffin offer declined to comment on Jefferies’ appointment.
Sky News revealed this week that the fan-run organisation co-founded through former Chelsea captain John Terry in “positive” talks with two of the shortlisted bidders in relation to acquiring a 10% stake.
People close to the bidders, the value could exceed £2. 5 billion as the quartet of contenders prepares final bids.
Raine Group, the sales adviser, aims to offer an offer to the government next week, paving the way for a sale to occur before the end of the month.
Among them, fund bidders or have stakes in U. S. teams. They join the Boston Celtics, Cubs, LA Dodgers, Philadelphia 76ers and Sacramento Kings.
In addition to the consortia led by Ricketts, M. Boehly and Sir Martin, the other contender for Chelsea’s takeover is Stephen Pagliuca, an American personal justice billionaire who has a stake in Atalanta in Italy’s Serie A.
According to the criteria of traditional buying processes, Chelsea’s auction unfolded at breakneck speed, and executives at other primary investment banks suggested that such a complex sale would have taken at least six months.
The UK government’s sanction of Mr Abramovich added additional headaches to the deal, as bidders sought an explanation about the legal implications of buying the club.
Before being sanctioned, Abramovich had said he intended to cancel a £1. 5 billion loan to the club and hand over the net proceeds from the sale to a new charity he would create for the benefit of victims of the war in Ukraine.
A quick sale is emerging as essential if Chelsea is facing the uncertainty that would mean the dissolution of one of the teams of maximum players of the elite.
The reigning FIFA Club World Cup champions have been disappointed by Russia’s war against Ukraine. M. Abramovich first proposed entrusting the club to its foundation and then officially putting it up for sale.
First, Abramovich had set a £3 billion prize for the Stamford Bridge team, and the net proceeds would go to a charitable foundation set up to benefit the victims of the war in Ukraine.
In addition to government consent in the form of a special licence, Chelsea’s new homeowners will also want Premier League approval as a component of their proof of home ownership.