Todd Boehly likely to become Chelsea new owner

Todd Boehly’s consortium is likely to be named as the preferred bidder to buy Chelsea, according to Sky Sports.

The reports revealed that on Friday, Britain’s richest man, Sir Jim Ratcliffe, submitted a last-minute £4.25billion bid to buy the west London club.

However, with the situation of things, the group headed by LA Dodgers part-owner Boehly are already considered favourites to take over the Premier League club.

Chelsea have told the consortium led by Stephen Pagliuca, part-owner of the NBA’s Boston Celtics and Serie A’s Atalanta, it is not the preferred bidder.

This latest development is a blow to the other remaining group left in the bidding, led by Sir Martin Broughton, the former Liverpool and British Airways chairman, including the billionaire Crystal Palace shareholders Dave Blitzer and Josh Harris.

Hopefully, Chelsea’s new owner will be announced before the end of May.

This will enable them to be able to participate in the summer transfer window as they are currently banned from signing a new player and also extending the contracts of their players.