Saudi Media OUT of Chelsea takeover race after being rejected from final shortlist by Raine Group
SAUDI MEDIA are reportedly out of the running to buy Chelsea from sanctioned Russian owner Roman Abramovich.
And it is also being reported that the bidding process is being narrowed to its final options.
Chelsea were put up for sale shortly before Abramovich was sanctioned by the Government due his ties to Russian president Vladimir Putin.
According to , a number of groups were told on Thursday that they are no longer in the running to take over.
Saudi Media, a private consortium headed by Mohamed Alkhereiji, who happens to be a lifelong Chelsea fan, submitted an offer worth £2.7billion.
But they were not selected by New York-based investment bank Raine Group LLC, who are in charge of finding Abramovich a buyer.
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According to , despite not being shortlisted Saudi Media are open to JOINING another consortium.
Despite reportedly having NO immediate links to the controversial leaders of the Kingdom of Saudi Arabia, the private company may not have stood a chance of buying the European champions.
Chelsea are said to have discouraged 'politically sensitive' parties from submitting offers after the backlash to the Newcastle deal.
Woody Johnson, owner of the NFL team the New York Jets, is also said to be one of those told his bid was NOT successful.
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However. Chelsea aren't short of billionaire suitors.
Property tycoon and Stamford Bridge season ticket holder Nick Candy is in the running to buy Chelsea and has lodged a bid worth more than £2.5bn to buy his beloved Blues.
Candy says he has secured backing from various investors and gained extra funds from business people in South Korea.
He said: "From the beginning of this process, I have always maintained that I wanted Chelsea to end up in safe hands.
"Whatever happens today, what’s most important is safeguarding the future and the legacy of the club for the fans.
"We have a once-in-a-lifetime opportunity for Chelsea to set the new gold standard for club stewardship over club ownership and introduce a new era of fan involvement in Premier League clubs."
Chicago Cubs MLB owner Tom Ricketts is also said to be interested in buying Chelsea from Abramovich.
But political fallout from his father’s views on race caused controversy.
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Ricketts’ Christian dad Joe claimed Muslims are ‘my natural enemy’ in emails which surfaced in 2019 and as a result, some Chelsea fans do not want the family gaining control of their club.