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Three bids submitted for Chelsea as deadline passes

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Three bids have been made to purchase English Premier League club Chelsea by groups led by British property developer Nick Candy, Chicago Cubs owners the Ricketts family and the pairing of Martin Broughton and Sebastian Coe.

Premier League Chelsea were initially put up for sale by owner Roman Abramovich following Russia’s invasion of Ukraine before sanctions were imposed on the oligarch by the British government, effectively giving it control of the club.

Raine Group, a U.S. bank, has been overseeing the sale process since before the Russian billionaire was sanctioned, and set a 2100 GMT deadline on Friday for offers to be submitted, a deadline three bids have so far officially met.

South Korean companies Hana Financial Group and C&P Sports Limited have joined forces with Candy to bid two billion pounds ($2.64 billion) for Chelsea, a statement from Candy said on Friday.

It added that the consortium also includes “significant investors from Silicon Valley and tech billionaires that own other shareholdings in sports teams in the USA.”

“Football clubs are vitally important community and cultural assets, and this is a once-in-a-lifetime opportunity to give football back to the fans and put them at the heart of the operations and strategy of a leading global football club,” Candy told Reuters in a statement.

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“I believe Chelsea has all of the fundamentals to become the most valuable and respected sports club in the world and a force for the greater good in everything it does.”

C&P Sports CEO Catalina Kim had earlier confirmed to Reuters that they and Hana were considering a bid.

“We are in the process of arranging our bid for Chelsea FC,” a statement read. “Surprisingly enough, despite the size of the economy, there has never been investment into (English) Premier League football clubs made by South Korean capital so far.

“Now it is time for a change and we are ready to start the new chapter with Chelsea FC.”

The owners of U.S. baseball team the Chicago Cubs, the Ricketts family, confirmed to Reuters that they had also made a bid for Chelsea, in conjunction with Citadel founder Ken Griffin.

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Former British Airways chairman Broughton has teamed up with president of World Athletics Coe to become the third party to make an offer late on Friday.

“I am assembling a team that will ensure the future success and financial stability of a club I’ve supported for over 60 years,” Broughton said in a statement.

“We will secure a prompt purchase and smooth transition, with funds readily available for the immediate takeover of the club and immediate investment in the team, facilities, and commercial opportunities.

“I believe I am the right person to lead Chelsea as we start this new chapter for the club.”

Further bidders are expected to be confirmed in the coming days, with a source close to the dealings telling Reuters that Swiss billionaire Hansjoerg Wyss, who has linked up with LA Dodgers co-owner Todd Boehly, British businessman Jonathan Goldstein and Conservative peer Daniel Finkelstein, has also submitted an offer.

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MISUNDERSTANDING

Turkish businessman Muhsin Bayrak, who had previously expressed interest in the club, said late on Friday that his company AB Group Holding had not filed a bid to Raine Bank.

Bayrak blamed AB Group’s failure to meet the deadline due to a misunderstanding with his lawyers over the auction procedure. “I am very upset,” he told Reuters.

According to emails seen by Reuters, AB Group’s lawyers contacted the UK Department for Digital, Culture Media & Sport using a generic email address to file an enquiry, rather than to file a bid to the U.S. investment bank.

Hana Financial Group is a South Korean investment bank and financial services company headquartered in Seoul, Korea. The group is also the title sponsor of the Korean Football League and the national soccer team.

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C&P Sports Limited is a leading sports consultancy company based in London and Seoul.

C&P Sports has worked on commercial deals with several big clubs in the last 10 years, such as Kumhos Tyres with Tottenham Hotspur, Nexen Tyre with Manchester City and Hyundai Motors with Atletico Madrid.

Candy, a lifelong Chelsea fan, had been joined by former Blues player and manager Gianluca Vialli as he prepared his bid.

“I have met Nick Candy on a number of occasions over the last few weeks and I am fully behind his visions,” Italian Vialli said in a statement after it was announced the company he co-founded, Tifosy, will act as lead advisor for the process.

($1 = 0.7587 pounds)

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-Reuters

Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

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Governing Bodies

Sanusi set for record-extending tenure as Nigeria’s football politicians assemble in Asaba

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BY KUNLE SOLAJA.

Speculations gathered ahead of the 2024 Annual General Meeting of the Nigeria Football Federation holding in Asaba on Friday have it that tenure elongation for the General Secretary, Dr. Mohammed Sanusi, is a major item on the agenda.

Neither formal confirmation nor denial has been issued since one of the leading newspapers in Nigeria, ThisDay dropped the hint.  

 The agenda of the meeting is also not made public. Dr, Sanusi is the longest-serving General Secretary in history having been in office from 30 March 2015 making 3,476 days or nine years six months and four days.

It easily drowned that of his closest rival in tenure – Sani Toro whose tenure from 21 December 1993 to 3 May  1999 is merely 2020 days or five years, six months and 12 days.

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 Thus, no one had enjoyed a longer period in office than the incumbent, Dr. Mohammed Sanusi.  It is speculated that the tenure will be extended as NFF has reported that all delegates have arrived in the Delta State capital by Thursday evening.

The NFF Annual General Assembly, the first of which took place 90 years ago in Lagos on 19 February 1934, is the biggest assemblage of football administrators and stakeholders in the country.

In one such meeting on 24 July 2008 in Makurdi, the football body changed its name from NFA to NFF.

This year, according to a press release by the NFF, the plenary will have in attendance, the chairmen and secretaries of football associations in the 36 States and the Federal Capital Territory, chairmen and secretaries of the Nigeria Premier Football League, Nigeria National League, Nigeria Women Football League and the Nationwide League One, as well as chairmen and secretaries of the referees’ association, players’ union and coaches’ association. This group of 88 makes up the Congress.

 They are joined by the members of the NFF Executive Committee and the management team as well as former NFF Presidents and General Secretaries.

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The Minister of Sports Development, John Owan Enoh, is announced as the special guest. Nigeria’s Member of the FIFA Council, Amaju Melvin Pinnick is also expected as well as a representative of the West African Football Union (WAFU B).

The Governor of Delta State, Sheriff Francis Oborevwori will declare the General Assembly open. 

Venue is the Unity Hall of the Delta State Government House.

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Governing Bodies

Like in Egypt, former Nigerian Olympian, Sadiq Abdulahi wants Tinubu to declare ‘State of Emergency’ in Sports

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Former Nigerian tennis player and Olympian, Prof. Sadiq Abdulahi has called for drastic action to arrest the decline of Nigeria in global sporting events.

  The former tennis player who is now a professor in the United States declared that the “failure to win a medal at the regular 2024 Paris Olympics, the few medals at the Paris Paralympic and the fallout at the National Youth Sports Festival has exposed the deep problems facing the sport’s sector.”

  He wants Nigeria to have the same approach that the Egyptian president has taken while reacting to the country’s performance at the Paris 2024 Olypics.

Egypt’s President Abdel-Fattah al-Sisi ordered  a comprehensive evaluation of sports federations that  participated at the Paris Olympic Games, following a mission report submitted by the country’s sports minister.

 According to Prof. Abdulahi, the National Sports Federations charged with the preparation of elite athletes have failed to do their job despite the cry for funding from the government.

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“Federal Government cannot adequately fund all the Olympics sports. It is impossible.

“By declaring a state of emergency, new people, new approaches and new funding models will be identified. More importantly, the Federal Government will redefine grassroots sports development.

“We will lay sustainable foundation for sports development.”

Continuing, he called for the return of the National Sports Commission (NSC) which enabling decree was abolished through Decree No. 7 of 1991, but came back through presidential proclamation under Sani Abacha before it was abolished again.

 The original NSC was established in 1964 as National Sports Council before the promulgation of Decree 34 of 1971 which legalised it as  the apex Federal Government agency to control, regulate and organize sports.

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  “The FG may now bring back the National Sports Commission or the National Sports Authority. Our emerging national economy with the full participation of the private sector can support this new beginning. I hope this helps.” 

RELATED STORY: President Al-Sisi orders sports system overhaul

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Governing Bodies

CAF gives Yoruba and Arabic interpretations of  ‘OLA’ the Super Cup 2024 Official Match Ball

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The Confédération African of Football, CAF, has given the linguistics interpretation of OLA, the confederation’s official match balls produced by Puma which has also unveiled a special edition for the Super Cup duel holding on Friday in Saudi Arabia.

According to CAF, OLA, symbolizing the dynamic and energetic nature of African football, means “wealth,” “honour,” and “respect” in Yoruba and “rise” and “success” in Arabic.

The OLA ball stands out with its vibrant design and cultural significance. “OLA” 

The ball is a mix of black and gold, representing power and sophistication. The ball will be the centrepiece of the eagerly-awaited match between the two giants of African football.

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