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American bidders ready for final match in battle to own Chelsea

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Bidders have sought to swoop on the rare chance to buy one of the top clubs in the English Premier League. PHOTO: REUTERS

At least three groups of mainly American investors have made it through to what is expected to be a final phase of the bidding war for Chelsea Football Club, according to people familiar with the situation.

While more bidders may still make the next round, those that have done so now include a consortium led by former Guggenheim Partner Todd Boehly, another by Apollo Global Management Inc. co-founder Josh Harris, and a third by the Ricketts family, the owners of Major League Baseball’s Chicago Cubs, who have teamed up with the billionaire US hedge fund manager Ken Griffin.

The Raine Group, the New York-based merchant bank handling the sale for Chelsea FC owner Roman Abramovich, has been weighing offers submitted by last Friday’s deadline.

The bank was not planning to announce on Thursday (March 24) which of those had made the first cut, but was instead telling those rejected for its shortlist of final candidates, the people said. Bid revisions have reportedly slowed the process.

A representative for the Raine Group did not immediately respond to a request for comment.

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Bidders have sought to swoop on the rare chance to buy one of the top clubs in the English Premier League – Europe’s richest football division.

One bid group led by Centricus Asset Management offered more than £3 billion (S$5.37 billion) for Chelsea, Bloomberg News reported. The London-based global investment firm’s bid is said to be driven by co-founder Nizar Al-Bassam and CEO Garth Ritchie, who are reported to be season-ticket holders.

A deal in that price range would easily mark the biggest takeover of a European football club, passing the US Glazer family’s acquisition of Manchester United FC for more than £700 million in 2005.

Abramovich sanctioned

Russian billionaire Abramovich has owned Chelsea for almost 20 years. He put the club up for sale after Russia’s invasion of Ukraine, which prompted the British government to place him under far-reaching sanctions for his ties to President Vladimir Putin’s regime.

Since buying Chelsea in 2003, he has invested hundreds of millions of pounds to lure the best footballing talent to Chelsea and turn the team into serial winners. The club won the prestigious Champions League title last year and currently sit third in the Premier League.

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American interest

The huge interest in the London club from US investors reflects the recent flood of American money into the world’s most popular sport.

Harris already owns a stake in Premier League club Crystal Palace FC. For his Chelsea bid, he has the backing of Martin Broughton, a former chairman of British Airways Plc, and Vivek Ranadive, a co-owner of National Basketball Association franchise the Sacramento Kings. Another partner is David Blitzer, who owns sport teams including the NBA’s Philadelphia 76ers.

Harris and Blitzer would have to divest their 40 per cent stake in Crystal Palace should their bid for Chelsea succeed.

In addition to Manchester United, Americans have invested in Premier League clubs including Liverpool, Arsenal and Burnley.

Bloomberg, Reuters, AFP

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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

Zimbabwe sports minister among candidates for International Olympic Committee presidency

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A total of seven candidates are running for the presidency of the International Olympic Committee with the winner replacing outgoing president Thomas Bach at elections in March 2025 in ancient Olympia, Greece.

Kirsty Coventry:

Age: 41

Country: Zimbabwe

Entry into the IOC: 2013

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An Olympic swimming champion and Zimbabwe’s most successful Olympian, Coventry is Zimbabwe’s Sports Minister. She is the only woman among the candidates and the only one from Africa.

Prince Feisal Al Hussein:

Age: 60

Country: Jordan

Entry into the IOC: 2010

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Prince Feisal heads the Jordan Olympic Committee and has been an IOC executive board member since 2019. An Executive Board member of the Olympic Council of Asia, Prince Feisal has also held several posts at the Royal Jordanian Air Force.

Sebastian Coe:

Age: 67

Country: Britain

Entry into the IOC: 2020

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An Olympic track and field champion and head of World Athletics, Coe also led the organisation for the 2012 London Olympics. A former Conservative Member of Parliament, Coe is also involved in sports consultancy and is a former head of the British Olympic Association.

Johan Eliasch:

Age: 62

Country: Britain

Entry into the IOC: 2024

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The wealthy Swedish-born entrepreneur with a variety of business interests has headed the international skiing federation since 2021. He only joined the IOC in July at its session in the Paris Olympics.

David Lappartient:

Age: 51

Country: France

Entry into the IOC: 2022

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A rising figure in world sports administration. He heads the international cycling body, UCI, and is in charge of esports within the IOC, having helped seal a 12-year deal with Saudi Arabia earlier this year for the Olympic esports Games.

Juan Antonio Samaranch:

Age: 64

Country: Spain

Entry into the IOC: 2001

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The son of the late former IOC president, Samaranch has considerable IOC experience and influence in his six years as vice president and 23 as a member. He headed the coordination commission for the Beijing 2022 Winter Olympics.

Morinari Watanabe:

Age: 65

Country: Japan

Entry into the IOC: 2018

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Watanabe has headed the gymnastics federation (FIG) since 2016, having been re-elected twice since. He is the first Japanese candidate to run for the IOC presidency.

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Governing Bodies

World Athletics boss, Coe and multi-millionaire Eliasch among seven candidates for IOC presidency

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Paris 2024 Olympics - Athletics - Women's Marathon Victory Ceremony - Stade de France, Saint-Denis, France - August 11, 2024. World Athletics President Sebastian Coe and International Olympic Committee (IOC) President Thomas Bach during the medal ceremony REUTERS/Phil Noble/File Photo 

World athletics chief Sebastian Coe, multi-millionaire and Olympic newcomer Johan Eliasch and Zimbabwe’s Sports Minister Kirsty Coventry are among seven candidates for next year’s International Olympic Committee presidency election, the IOC said on Monday.

IOC Vice President Juan Antonio Samaranch, son of the late former IOC president, international cycling chief David Lappartient, Prince Feisal Al Hussein of Jordan and international gymnastics federation head Morinari Watanabe are also in the running to succeed current president Thomas Bach.

The 70-year-old German is stepping down next year after 12 years at the helm. The election will be held at the IOC session in ancient Olympia, Greece in March 2025.

The candidates will all present their programmes, behind closed doors, to the full IOC membership in January 2025.

The IOC, with 111 members currently, is in charge of the Olympic Games and the multi-billion dollar industry linked to the world’s biggest multi-sports event.

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Bach’s departure comes with the organisation in a financially robust position, having secured $7.3 billion for the years 2025-28 and $6.2 billion already in deals for 2029-2032.

The president is elected to an eight-year first term with the possibility of a second term of four years, if re-elected.

Coe, 67, only joined the IOC in 2020 after a rocky relationship between World Athletics and the IOC over Coe’s ban of Russian track and field athletes almost a decade ago following the country’s doping scandal.

A former Olympic champion with a wealth of experience in the sports world, Coe was previously head of the London 2012 Games and the British Olympic Association. He is also a former Conservative Member of Parliament.

Coventry, 41, is the only woman running for president and the former Olympic swimming champion, who is Zimbabwe’s most decorated Olympian, could become not only the first female president but also the first from Africa.

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MALE PRESIDENTS

All IOC presidents have been men, with eight of the nine from Europe and one from the United States.

The 62-year-old Eliasch, head of the International Ski and Snowboard Federation (FIS), only joined the IOC in July, with the Swedish-born British businessman’s candidacy a surprise for some.

Prince Feisal, 60, is a member of the IOC executive board, having joined the organisation in 2010, while Spaniard Samaranch, with considerable IOC experience in his six years as vice president, headed the coordination commission for the Beijing 2022 Winter Olympics.

“The IOC and Olympic movement have made enormous strides over the past decade under the leadership of Mr Bach,” said Samaranch in a statement.

“The IOC now needs a new leader with deep experience of the Olympic movement who can help steer it through this period of upheaval.”

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UCI chief Lappartient has been a rapidly rising figure within the sports world after joining the IOC in 2022.

The Frenchman also is in charge of esports within the IOC, having helped seal a 12-year deal with Saudi Arabia earlier this year for the Olympic esports Games.

Japan’s Watanabe, 65, has headed the gymnastics federation (FIG) since 2016, having been re-elected twice since, and is his country’s first ever candidate for the IOC presidency.

Under current rules members have to step down when they reach 70, the IOC’s age limit, unless they are given a four-year extension.

-Reuters

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Storm in CAF over proposed statutes amendments

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There is currently insinuations that  proposed certain elements may have smuggled modifications to amend the Statutes of the Confederation of African Football (CAF) when the body holds its General Assembly next month in Kinshasa, Congo next month.

 The confederation will be having its 46th General Assembly on 10th October. It is at such gatherings that amendments are made to existing rules.

According to an article authored by Mansour Loum, the editor of Sports News Africa, some national football federations have denied being party to proposed amendments which were linked to them.

One of such is coming from the Equatorial Guinea Football Federation  which has denied signing proposals being circulated relating to amendments to CAF Statutes.

It is claimed that a circular dated 8 September has been sent to CAF member associations. Signed by CAF General Secretary, Véron Mosengo-Omba,  it is titled: “Proposals for amendments to the CAF statutes and regulations for the application of the statutes, as well as the rules of procedure of the CAF General Assembly, presented by the national associations.”

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 Seven member associations were quoted as sponsoring the amendments. They are: Botswana, Comoros, Gabon, Equatorial Guinea, Liberia, Mauritania and Niger. 

 But Equatorial Guinea has denied being party to the proposed amendment which seek to remove age barrier for candidates seeking to be CAF Presidents and also removing zonal considerations in election into FIFA Council.

 The current Statute stipulates that a presidential candidate must not be older than 70 as at the date of election.

Most of the national federation members are already approaching that age. In the estimation of the author of the article, Mansour Loum, the current CAF president, Patrice Motsepe, is 62 years old. With the age limit, he could, for example, only run for two more terms.

Continuing, Loum wrote that regarding the elections to the FIFA Council, each zone has a representative on the FIFA Council and candidates for these positions can only be elected by the presidents of the member associations of their group zone.

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Thus, the presidents of French-speaking federations can only vote for a French-speaking representative, the English-speakers for the English-speaking group, and so on.

The distribution of seats on the FIFA Council is currently as follows:

Francophone Group – Two members

Anglophone Group – Two members

Arabophone/Lusophone/Hispanophone Group – Two members

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One female member elected from among the female candidates, regardless of language groups

The modification of the grouping by zonal unions would mean that all presidents could vote for candidates outside their group, or that the candidates would also no longer be limited to a group.

Several candidates from the same group could be elected to the FIFA Council, while at the same time some groups could no longer be represented.

Equatorial Guinea disputes any request for modification. The football federation president, Venancio Tomas Ndong Micha has reportedly denied being party to the proposed amendments.

“I am writing to you to present the disagreement of the Equatorial Guinean Football Federation with part of the content of the document sent to the CAF Executive Council on September 8, 2024 signed by you (…)

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“In this document, there are amendments presented by the Equatorial Guinean Football Federation (…) By this letter, we confirm that the Equatorial Guinean Football Federation has not submitted any amendments to the CAF administration for the 46th CAF Ordinary General Assembly to be held on Thursday, October 10, 2024 in Kinshasa,” he denounces.

Enough to cast doubt on this document sent by the CAF secretary general and the objective targeted. Contacted, a federation president, whose body is not mentioned in the letter, is surprised by these two requests for amendments and wonders about their intentions.

The press release from the Equatorial Guinean Football Federation has sown doubt and now he is questioning the originality of the attachments included in this document which is likely to be talked about between now and the CAF General Assembly.

– Mansour Loum

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