-1.5 C
London
Thursday, December 8, 2022

Chelsea: London-based Centricus joins race to buy club and outlines plans to ‘support existing management’

Must read

Attack on North Carolina substation creates security threats for the US power grid

The recent attack on two North Carolina substations, which power thousands of people, has raised concerns about safety standards for the nation's power grid...

A women’s care brand begins to take shape • londonbusinessblog.com

Until last year, healthcare funding continued to shatter previous records. But there remains at least one very large gap in the industry. ...

With Pickme, your neighbor can pick up your packages for you • londonbusinessblog.com

French startup Choose me has raised a $3.7 million (€3.5 million) funding round to build a new network of collection and delivery points for...

An expert explains why the AI-powered writing skills of OpenAi’s new ChatGPT chatbot are so impressive

We have all interacted with a chatbot at some point. It's usually a little pop-up in the corner of a website, offering customer...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.
L

ondon-based global investment firm Centricus have joined the race to buy Chelsea.

Centricus have confirmed they are funding the latest British bid for Chelsea as prospective owners wait to find out if they have made the final shortlist of three preferred bidders.

The bid backed by Centricus, which has £29billion in assets, features several Chelsea season-ticket holders.

Centricus co-founder Nizar Al-Bassam and CEO Garth Ritchie, who are heading the bid, are season-ticket holders at Stamford Bridge. They have joined forces with fellow season-ticket holders Jonathan Lourie of Cheyne Capital and Bob Finch or Talis Capital to strengthen their bid.

In a statement, the group said it “will be committed to supporting [Chelsea] and its key stakeholders to ensure its continued success”.

A statement from Centricus 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.”

Nick Candy, the Ricketts family, Sir Martin Broughton and a consortium led by Todd Boehly are among the prospective buyers of Chelsea waiting to learn if their bids will be progressed.

Other parties reported to be interested include US billionaire and Crystal Palace co-owner Josh Harris, New York Jets owner Woody Johnson and a Saudi Arabia-based consortium.

The winning group is expected to pay between £2bn and £3bn.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Attack on North Carolina substation creates security threats for the US power grid

The recent attack on two North Carolina substations, which power thousands of people, has raised concerns about safety standards for the nation's power grid...

A women’s care brand begins to take shape • londonbusinessblog.com

Until last year, healthcare funding continued to shatter previous records. But there remains at least one very large gap in the industry. ...

With Pickme, your neighbor can pick up your packages for you • londonbusinessblog.com

French startup Choose me has raised a $3.7 million (€3.5 million) funding round to build a new network of collection and delivery points for...

An expert explains why the AI-powered writing skills of OpenAi’s new ChatGPT chatbot are so impressive

We have all interacted with a chatbot at some point. It's usually a little pop-up in the corner of a website, offering customer...

Telegram version 9.2 adds SIM-free anonymous phone numbers, new automatic deletion

Users had to use their mobile phone number to sign up for Telegram, similar to other end-to-end encrypted messaging apps like Signal and WhatsApp....