Russian owner Roman Abramovich, now subject to sanctions by the British government, put the London club up for sale in early March following his country's invasion of Ukraine. Abramovich cleared the path for the takeover on Thursday after he dismissed reports that he wanted a loan given to the club, reportedly worth 1.5 billion pounds ($1.85 billion), to be repaid. The Boehly group, which also includes Swiss billionaire Hansjorg Wyss and British property investor Jonathan Goldstein, were in exclusive negotiations to buy the club after a late bid from British billionaire Jim Ratcliffe was rejected. Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton were earlier eliminated from the bidding process while a consortium led by Chicago Cubs owners the Ricketts family pulled out of the running. ($1 = 0.8106 pounds)

Source: The Nation Bangkok May 07, 2022 06:16 UTC