Terry's group seeks minority stake

LONDON • The Raine Group is currently in the process of evaluating several buyout bids for Chelsea, after last Friday's deadline to put in an offer.

The American merchant bank has been appointed to oversee the sales process and so far three official public bids have been made to purchase the European and world champions.

They are consortiums led by British property tycoon Nick Candy and Chicago Cubs owners the Ricketts family, and a group fronted by former Liverpool chairman Martin Broughton and World Athletics president Sebastian Coe.

There were unconfirmed reports that former Blues skipper John Terry was part of another takeover group but the club great clarified on Saturday that the True Blues consortium was instead seeking a minority stake to help protect Chelsea's "history and heritage".

Comprising former players, including Terry and former women's defender Claire Rafferty, as well as several British entrepreneurs and fans, the group are being advised by Oakvale Capital, a mergers and acquisitions firm.

Both the Chelsea Pitch Owners, who are responsible for the upkeep of Stamford Bridge, and the Chelsea Supporters' Trust have backed the True Blues' plan in principle.

"Chelsea has been such an important part of my life for 22 years," Terry tweeted on Saturday. "I want to see the club's history and heritage protected as we go into a new era with like-minded people who have the same long-term vision of building the best football club in the world.

"Having met with and heard what the True Blues Consortium is about, I know they understand. They're a group of lifelong Chelsea fans and season-ticket holders who have created a concept that will complement and assist any preferred bidder running the club, while adding fan connection and engagement with the board."

The Blues are operating under a special licence from the British government after Russian billionaire owner Roman Abramovich had his British assets frozen.

The Raine Group is expected to finalise the shortlist by this week and the remaining bids will be further scrutinised by the British authorities to ensure that the oligarch cannot profit from any sale.

Manager Thomas Tuchel said on Saturday that he was hopeful there would not be any hiccups and the takeover could be completed "as soon as possible".

Speaking after his side reached the FA Cup semi-finals with a 2-0 win at second-tier Middlesbrough, the German added: "I hope that the process will go through to clear the situation and to calm the situation down and give everybody an outlook to the nearer future.

"So that we know with whom we are dealing and what the situation is we are dealing with. This is what we are hoping for... and we can see ourselves in a calmer situation."

REUTERS