Sky News has learned that Larry Tanenbaum, who also owns a number of North American sports teams, is among the investors backing Stephen Pagliuca’s bid for the Stamford Bridge team. City sources said Monday that Canadian Tanenbaum was among many wealthy people who agreed to support Pagliuca, the private equity billionaire who made a fortune from his Bain Capital career. Other co-investors in the group include John Burbank, founder of the hedge fund Passport Capital in San Francisco, and Eduardo Saverin, co-founder of Facebook, which was the tech giant’s first investor. Mr Saverin and Raj Ganguly, two co-founders of investment firm B Capital Group, both agreed to support Mr Pagliuca, who issued a statement on Tuesday revealing his plans for Chelsea before submitting a “substantial and reliable »offer later. this week.
Pagliuca to submit a “substantial and credible” offer
The statement said: “This process has been a worrying period for the football club and the fans. Throughout my life and career, it has always been my ethos to operate quietly, with integrity and to let my actions and results be It’s imperative, however, that we need to clarify and reassure supporters about our promotion team and its commitments, to emphasize how seriously we take our potential responsibility to Chelsea. “Eventually, the fans will see our commitment and, hopefully, trust us to stay true to our values on and off the pitch. We understand the responsibilities of such an important sporting institution and hold ourselves accountable to the fans. “Later this week, we will present a substantial and credible proposal – a proposal that we expect to meet the respective requirements and regulations of the Premier League, the Government of the United Kingdom and UEFA – and we pledge to honor our commitment to credibility and the good guardianship of the Chelsea Football Club from day one “.
Statement by Steve Pagliuca about a possible offer for Chelsea …
“Our first focus and goal is to make strategic investments to keep competing for leagues and trophies. We will support our players and coaches to make sure Chelsea are the usual winners and contenders for the title, whether in the Premier League or the Champions League. League or the Super Women’s Association [the only Super League we intend competing in, for the record]. In addition, we will continue to invest in the youth academy to grow the stars of the future and we would not be in the process if we did not have an exciting and comprehensive vision for Chelsea. “Our second focus will be to continue to love and preserve the club’s heritage and traditions. In the more than 20 years of Boston Celtics ownership, we have not once considered changing the club’s name, colors or logo. Our guarantee for Chelsea fans. “Not only are we committed to staying at Chelsea headquarters in Stamford Bridge, but we are inspired to renovate or renovate the stadium. Chelsea is a world-class team, in a world-class city, with world-class fans: it’s worth a world-class stadium. “Our third focus will be to have a significant positive impact on the community. We passionately believe that clubs have a social responsibility and we will continue to support the Chelsea Foundation and its impressive work in education, health and well-being, diversity and “Chelsea must be the pride of London for its achievements on and off the pitch. It has fans all over the world and we will not tolerate bullying, anti-Semitism, racism or any other form of hate speech.” and neither should our followers. “
The president of Disney, Iger, approached to participate in the offer
Last week, Sky News revealed that Bob Iger, the former president of Walt Disney, had also been approached about participating in the offer. The president of Bain Capital reportedly watched Chelsea win 6-0 in Southampton on Saturday, having traveled to the United Kingdom for talks with club executives and advisers about his offer. Use the Chrome browser for a more accessible video player FREE ATTENTION: Snapshots from Chelsea’s win over Southampton in the Premier League Mr Pagliuca is the co-owner of the Boston Celtics NBA team, as well as a large stake in the Italian Serie A team Atalanta, which he could be forced to get rid of if he succeeds with his offer to Chelsea. A source close to Mr Pagliuca’s bid said Mr Tanenbaum’s work to fight anti-Semitism was likely to be accepted by Roman Abramovich, the owner of Chelsea who has been hit by British government sanctions following the Russian invasion of Ukraine. The four remaining consortia that plan to replace Abramovich as Chelsea owner must submit their final bids on Thursday, two days after the crucial second leg of the Champions League quarter-final against Real Madrid in London. Chelsea fell 3-1 after last week’s first game. Raine Group, the commercial bank that oversees the sale process, extended the deadline last week to give the four bidders a full and fair opportunity to finalize the details of their bids. Use the Chrome browser for a more accessible video player Former Chelsea player Eddie Newton believes that players should use their defeat against rival Brentford and ownership speculation to mobilize in the future. Raine is considering waiting for approval from the Premier League for all four consortia before presenting a preferred bidder to the government. The control of the four offers of the top category of English football has already begun after the other consortia submitted data of their main investors to Raine ten days ago. The Premier League is expected to take the rest of this month to evaluate those involved in the bids – which include a number of US billionaires and pillars of the British corporation – and its work to approve all four consortia means the process can need to be completed. expanded. One of the bidders, speaking on condition of anonymity, said they now expect a final recommendation to be made to ministers later than the target date of the week beginning April 18, with the deal now likely to be completed. May. Use the Chrome browser for a more accessible video player LA Dodgers co-owner Todd Boehly, who is a candidate to become the next owner of Chelsea, was at Stamford Bridge for the Champions League match against Real Madrid. In addition to Mr Pagliuca’s consortium, candidates include: a team led by Sir Martin Broughton, the former president of Liverpool and British Airways, which includes Crystal Palace shareholders Dave Blitzer and Josh Harris. an offer led by Todd Boehly, co-owner of LA Dodgers, which includes support from Clearlake Capital, a US investment firm. and the Chicago Cubs Ricketts family, who have worked with Cleveland Cavaliers owner Dan Gilbert and hedge fund mogul Ken Griffin. The Ricketts-Griffin-Gilbert group also added Chelsea fan and Cobra beer founder Lord Karan Bilimoria to their offer. Lord Bilimoria will join Chelsea’s board if the offer is successful and will act as ambassador and support the club’s charitable programs. The four remaining bidders visited London last week to meet with Chelsea board members, executives and Raine as they struggle to end Mr Abramovich’s 19-year term. They have all been told they must make legal commitments to guarantee at least λι 1 billion in investment in the club’s infrastructure, academy and women’s team if they get it in the coming weeks. The sale process is complicated by the sanctions against Mr. Abramovich and the frantic interest in buying last season’s Champions League winners. Among them, the finalists either control or own shares in a legion of North American teams that span baseball, basketball and ice hockey. Use the Chrome browser for a more accessible video player Chelsea owner Roman Abramovich continues to play a key role in Ukraine-Russia peace talks, despite reports of suspected poisoning during similar talks earlier this month. The cluster of American sports billionaires orbiting Chelsea underscores the extent to which the Premier League has become a magnet for financiers from across the Atlantic over the past 20 years. Arsenal, Liverpool and Manchester United have been acquired by US-based entrepreneurs during this period, and a significant number of other top clubs also have US support. By the standards of conventional takeover procedures, Chelsea’s auction was moving at breakneck speed, with executives from other major investment banks suggesting that such a complex sale would usually take at least six months. Wednesday 20 April 19:00 Start 19:45 A quick sale is considered necessary if Chelsea want to prevent the uncertainty that would trigger the dissolution of one of the most valuable teams in the top division. Today’s winners of the FIFA Club World Cup have been confused by Russia …
