Chelsea are set to become the priciest sports team in existence with reports showing that ownership bids have greatly exceeded their expected value.
More than 20 interested parties placed their bids to take over the European champions before the 9pm deadline last Friday. Under severe pressure to sell following Russia's unprovoked invasion of Ukraine owner Roman Abramovich, 55, listed the club for sale.
Before being restricted by government sanctions, the Russian was commanding a fee of £3bn, though it was anticipated that Boris Johnson's oligarch crackdown would severely impact the fee. The Blues are unable to sell merchandise or tickets due to the sanctions and football business such as the renewal of player contracts has also been put on hold.
Finance experts estimated a sale in the region of £2bn – which would have still boasted a significant profit for Abramovich. The Blues owner bought the club for a measly £150m in 2003 but has overseen a meteoric rise during his tenure.
However, reports from the Athletic suggest that Chelsea's plethora of suitors have tabled bids close to £3bn, shattering the record sum paid for a football club. The highest price to date is still the Glazer family's £790m purchase of Manchester United.
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But the £3bn bid to buy the west London club would smash not only football price figures but sporting finances globally. Joseph Tsai's £2.5bn purchase of the NBA’s Brooklyn Nets stands as the current highest fee paid for a sporting franchise.
The sale of Baseball’s New York Mets, NBA's Houston Rockets and the NFL franchise the Carolina Panthers all commanded fees of £2bn.
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