Roman Abramovich rejects massive offer from American billionaire to buy Chelsea

December 10th, 2019 by Olasunkanmi Ibikunle

Reports in England claim Roman Abramovich has rejected a massive offer to buy Chelsea from US financier Todd Boehly as it fell short of his £3billion valuation.

Boehly, who owns 20 per cent of Major League Baseball team LA Dodgers, is the latest interested party in the Premier League club.

According to the Financial Times, he had a bid rejected by Abramovich, though the specific price is unknown.

He was educated at the London School of Economics and Eldridge is said to be worth £4.72bn.

Boehly also part owns Women’s National Basketball Association side Los Angeles Sparks and has shares in professional esports organsiation Cloud9, report Sportsmail.

The American may test the water with a follow-up bid, as Abramovich’s future with the club he bought in 2003 is uncertain.

He has also previously been linked with a move for Tottenham but he appears to have prioritised rivals Chelsea over the north London outfit.

A number of prospective buyers were understood to have approached the Russian last year after he took Israeli citizenship with rising tensions between his homeland and the UK meaning his investor visa application was delayed.

He had been planning on building a new state-of-the-art £500m stadium to replace Stamford Bridge but that has now been shelved.

Boehly’s attempted takeover is the latest American foray into the Premier League and follows investment group Silver Lake acquiring a £500million stake in City Football Group.

Abramovich used US merchant bank, Raine, to perform a strategic review of the club last year and Silver Lake were among those to have made an offer.

Britain’s richest man, Sir Jim Ratcliffe – who is worth £21bn, had a bid rejected last summer but did not rule out returning to the table at some point in the future.

It is understood that Boehly has been undeterred by the setback and is still eager to strike a deal.

If Abramovich was to leave, he would depart as the most successful owner in the club’s history.

Boehly would become the seventh current American owner of a Premier League team if successful in his takeover attempt.

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