steve Pagliuca flies to London for final Chelsea pitch
This is what the London Evening Standard says: Pagliuca is flying into London for a meeting at Chelsea as the race to buy out Roman Abramovich comes down to the wire.
They have been asked to make their final pitches to the US merchant bank Raine Group, which is about to put forward a preferred buyer to the Treasury.
When Sir Martin Broughton talks about his plans again, Todd Boehly’s consortium will be there to talk about them again, as well.
There is a lot of hope that the process will end this week, but Raine hasn’t given them any advice about when things should happen.
Because the UK government has banned Abramovich because of his links to Vladimir Putin, the takeover had to be done quickly. This has changed the parameters.
Raine has asked a lot of “comfort questions” and wants each bidder to promise not to sell the club for 10 years.
As part of the sale, they have also asked for £1billion in investment to keep the club going.