Saudi Media Group make $3.5bn offer to buy Chelsea

• Chelsea sale is still underway with various bidders still making their offers to buy the troubled club
• The latest bidder to announce their interests in Chelsea is a Saudi Media Group who have offered a sum of $3.5bn to buy the blues
• Talks are still ongoing to see how the sale will be fast-tracked by the UK government which have imposed sanctions on the football club

Saudi Media Group has reportedly submitted an offer worth £2.7bn ($3.5bn) to buy Chelsea.

Current Chelsea owner Roman Abramovich is currently looking to sell the club after the UK government added him to their sanctions list on Thursday, following Russia’s invasion of Ukraine.

Competing American-backed consortiums had been considered frontrunners to secure a deal, with around 20 different groups expressing interest. One of these parties, Saudi Media Group, have now stepped up their efforts to buy Chelsea by submitting their first offer.

Departed Chelsea owner Roman Abramovich. | PHOTO: Getty Images |

According to Ben Jacobs, the bid is in the region of £2.7bn. The owner of SMG, Mohamed Alkhereiji, is said to be an avid Chelsea fan and his ‘private consortium’ is claimed to have no direct government links.

However, Mohammed bin Khalid Al Saud, who heads up the state-owned Saudi Telecom Company, is involved in helping finance the bid. In addition, Mohammed bin Salman Al Saud – the crown prince of Saudi Arabia – also appears in Alkhereiji’s profile picture on social media.

Chelsea owners are currently looking for new owners. | PHOTO: Getty Images |

Those in charge of Chelsea’s sale are known to favour new owners that are insulated from shifts in the geopolitical landscape to avoid a repeat of the Abrahamovich situation. This likely could not be ensured if Al Saud was involved heavily.

His links to the Saudi Telecom Company would be problematic too. Chelsea is currently sponsored by rival telecommunication multinational Three, who would likely terminate their association permanently should the Saudi Media Group come on board.

Earlier this week it was reported that SMG’s proposal includes pledges to renew the contracts of Antonio Rudiger and Cesar Azpilicueta, as well as invest heavily in Stamford Bridge.