EPL

London-based investment firm Centricus become latest bidders for Chelsea

By Sports Desk March 21, 2022

London-based global investment firm Centricus has become the latest group to launch a bid to buy Chelsea, according to reports.

Chelsea owner Roman Abramovich, who has been sanctioned by the United Kingdom government following Russia's invasion of Ukraine, announced his intentions to sell the Premier League club earlier in March.

The deadline for bids to be officially submitted past last Friday, with a plethora of investors interested – including British billionaire and boyhood Blues fan Nick Candy, and the Chicago Cubs owners, the Ricketts family – though it had been expected that other offers could follow after the deadline.

Now Centricus, headed by Nizar Al-Bassam and Garth Ritchie, have now staked their claim, teaming up with Cheyne Capital's Jonathan Lourie and Talis Capital's Bob Finch – all of whom are Chelsea season ticket holders.

The prospective buyers also promised to involve several Chelsea stakeholders, with the intention to keep current management systems in place.

In a statement, the group said: "Our financing for the deal includes funding for the completion of the transaction and funding for working capital required for the day-to-day operations of the CFC Group, funds required to maintain an elite global brand, investment in grassroots and in-community football initiatives such as the Chelsea academy, the Women's team, the youth development program and the Chelsea Foundation and strategic real estate investment.

"The intention is to maintain and support existing management on both the business and sporting operations of the CFC Group. We intend to maintain the existing strategy direction.

"Clearly, the CFC Group has been operating in challenging conditions and we appreciate the importance for the CFC Group, the fans and other key stakeholders of ensuring a smooth and stable ownership transition.

"During this transition period and thereafter, we will ensure that we have frequent and open dialogue with all key stakeholders which underpins our long-term commitment to the CFC Group and its continued future success.

"If our offer is successful, Centricus would be focused on ensuring that the CFC Group continues to achieve sporting excellence, high level of community support, transparent governance, financial sustainability, fan engagement and exemplary custodianship."

Abramovich, whose 19-year tenure at the London club is soon set to come to an end, had his British assets frozen and was disqualified as director of Chelsea.

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