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Chelsea takeover: Saudi investor Amr Zedan becomes eighth public bidder as process drags on

6:00 PM GMT+8 24/03/2022
Amr Zedan Chelsea 2021-22
The venture capitalist and horse racing mogul is understood to be leading a bid to buy the Blues from Roman Abramovich

Amr Zedan, a Los Angeles-born Saudi investor, is the latest individual to have made an offer to buy Chelsea, GOAL can reveal.

The 47-year-old is the chairman of Zedan Group, a company involved in the energy and petrochemical sectors in Saudi Arabia, along with an interest in horse racing through Zedan Racing Stables.

Like other bidders, he is thought to have looked for extra finance after the deadline passed and is considered to have an outside chance of winning. This is the case even with his connections to Jordan's royal family, through his marriage to Princess Noor Bint Asem, factored in.

How and when will the new owners be decided?

Chelsea's board will ultimately decide who the new owners will be but they are being advised by Raine Group, a New York investment bank, who were initially appointed by sanctioned owner Roman Abramovich.

Raine Group is behind on their attempts to reduce the potential future owners down to a small shortlist of 'preferred bidders'.

However, they are attempting to run a process that can usually take several months in under a week, with further checks to be made in the next phase on every aspect of any consortium.

The Blues had hoped to get a new owner in at the end of March but that seems almost impossible now, with the process set to drag on.

It comes amid fears that the ownership situation is proving a distraction to Chelsea's sports team, as well as concerns over cash flow.

The UK Government is involved in the process but won't impose themselves on decision making, seeking only to ensure that none of the money derived from the Chelsea takeover process ends up with owner Abramovich.

Who else is in the race?

There are several known bidders with the Chicago Cubs-owned Ricketts family among those attempting to buy Chelsea.

There's also a reported £2 billion ($2.6bn) offer from Woody Johnson, who owns the New York Jets. Todd Boehly's consortium, which own the Los Angeles Dodgers and features further backing from Swiss billionaire Hansjorg Wyss and Englishman Jonathan Goldstein, are also in the running.

There's also Saudi Media's competitive bid, which was first revealed by GOAL, and hopes to make the next phase.

From the United Kingdom, there's an offer from Nick Candy, who is backed by a Catalina Kim-led South Korean consortium for up to a £1bn stake in the west Londoners.

Former Blues striker Gianluca Vialli is involved in Candy's bid through his company Tifosy Capital and Advisory, with AC Milan investors Elliott Management also rumoured to be providing backing.

Sir Martin Broughton is leading another English bid and has brought in Lord Sebastian Coe, a Conservative Party MP.

They are thought to have backing from Crystal Palace's American co-owners, Josh Harris and David Blitzer, which could be problematic in the process.

Furthermore, Centricus, the London-based global investment firm, have confirmed their £3bn ($4bn) bid to buy Chelsea.

In total there are eight known options for Chelsea to work through as they finalise this phase of their new owner selection process.

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