Bidders line up offers for Chelsea

LONDON • The owners of American baseball team the Chicago Cubs have teamed up with Citadel founder Ken Griffin to work on a bid to buy English Premier League club Chelsea, a spokesman for Griffin said on Wednesday.

The Cubs' owners, the Ricketts family, and Griffin have formed an investment group which is set to make a formal offer for the London club today. It is believed that the bid does not involve Citadel, the hedge fund business, only Griffin.

The Ricketts family said they would be leading the investment group making the bid.

"As long-time operators of an iconic professional sports team, the Ricketts Family and their partners understand the importance of investing for success on the pitch, while respecting the traditions of the club, the fans and the community," the investor group said in a statement reported by the BBC.

Another interested bidder, Nick Candy, will be joined by a familiar face to Chelsea fans as former player and manager Gianluca Vialli said he was working with the British billionaire property developer on his proposal.

"I've met Nick Candy on a number of occasions. I'm fully behind his visions to make Chelsea the most globally recognised and supported club in the world," Vialli said, after it was announced the company he co-founded, Tifosy, will act as lead adviser.

World Athletics president Sebastian Coe has also joined a consortium including former Liverpool chairman Martin Broughton that hopes to buy Chelsea. Turkish businessman Muhsin Bayrak's AB Group Holding is another firm preparing to submit a bid by today.

"Sir Martin has the vision, acumen and financial backing to ensure our club's future success, keep Chelsea at the top of European football and challenge for trophies," said Coe. "But most importantly, like me, he is a lifelong Chelsea supporter. We love our club and will always put the fans first."

Chelsea - ranked by Forbes as the seventh most valuable club in world football at US$3.2 billion (S$4.3 billion) - were initially put up for sale by its owner Roman Abramovich following Russia's invasion of Ukraine before sanctions were imposed on the Russian oligarch by the British government.

The Blues are currently operating under a special licence - that has limited their spending and impacted their operations - and are now effectively controlled by the British government.

Despite the restrictions, Chelsea coach Thomas Tuchel has praised his players for remaining focused, after they came from behind on Wednesday to beat Lille 2-1 in France and win their Champions League last-16 tie 4-1 on aggregate.

Separately, Fifa has relaxed its rules to allow home-based Ukrainian players to move to foreign clubs without having to wait for the next transfer window.

This follows the move last week to allow foreign footballers and coaches working in Ukraine and Russia to suspend their contracts temporarily and move elsewhere.

In its statement on Wednesday, it confirmed that "Ukrainian players may be allowed to be registered with another club even if that registration period is closed in the association of the club with which they intend to be registered".

Clubs are limited to welcoming a maximum of two players covered by this exemption.

REUTERS, AGENCE FRANCE-PRESSE