SportsDay
SPORTS UPDATE

EPL: Chelsea’s new owners given fresh conditions to buy club

Interested parties who want to bid for Chelsea before Friday’s deadline, have been told to submit a detailed background report on all investors, according to SportsMail.

They have also been asked to state their motives for the club moving forward, as they enter the official bidding process.

It is understood there are about 200 interested parties.

New York-based merchant bank, Raine, have been appointed as advisors on the deal.

Bidders will be asked to provide a proof of funds letter, a full list of advisers, a business plan and a timescale for completion to accompany their offers.

This is amid a growing focus on the issue of suitable club ownership in the Premier League.

Buyers are also advised that a cash offer – and being the highest bidder – will be crucial.

Also, any consortium or individual must promise to preserve employment at all levels at the club and fulfil their existing financial obligations.

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