Chelsea reportedly won’t become the second Premier League team alongside Newcastle United to have Saudi ownership.
The future of the Blues is incredibly uncertain right now. The government sanctioned Roman Abramovich earlier this month amid Russia’s invasion of Ukraine. His assets have been frozen, including Chelsea Football Club.
They are now in the process of being sold, with multiple parties launching takeover bids. One of those bids came from Saudi Media Group, led by Mohamed Alkhereiji.
The Saudi-backed bid received a lot of media attention, amid renewed backlash at the Newcastle United takeover.
Mike Ashley sold the Magpies in October last year, with PIF purchasing 80% of the club.
However, Newcastle are set to remain the only Premier League club with Saudi ownership.
Saudi Media Group will not complete Chelsea takeover
Raine Group are in charge of the Chelsea takeover process, and are currently deciding who are the preferred bidders.
However, Goal claim that the Saudi Media Group have been informed that their bid has failed.
The report states that their offer may have ‘suffered from perceived connections to its country’s government’. However, they have denied any links.
If there were links to the Saudi government, it would have delayed the takeover process, which isn’t what Chelsea need right now. They need new owners and they need them fast.
Newcastle fans know all about takeover delays. The PIF-backed deal was initially agreed in April 2020, but wasn’t completed until October 2021.
The involvement of Saudi Arabia complicated the deal, until the Premier League received ‘legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club’.
The backlash has continued though, and it only would have increased if a new Saudi consortium entered the Premier League.
Regardless, a spotlight will remain on Newcastle United and its owners.
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