SEBASTIAN COE reported on the American bid to buy Chelsea.
Lord Coe has thrown his weight behind Sir Martin Broughton’s consortium – and will have a seat on the board if they succeed.
London’s 2012 Olympics chief hailed former Liverpool chairman Broughton as the perfect man to take the helm after Roman Abramovich’s sale of the Blues.
Coe said: “I am certain Sir Martin is the right man to lead Chelsea Football Club into the next chapter.
“He has an exceptional track record in UK business, as well as unparalleled experience in leading Liverpool out of a very difficult situation.
“He has the vision, acumen and financial backing to ensure our club’s future success, keep Chelsea Football Club at the forefront of European football and challenge know the titles.
“But most importantly, like me, he is a lifelong Chelsea supporter and Shed end-of-season ticket holder.
“This payoff is for millions of Chelsea fans around the world. We love our club and will always put the fans first.”
Coe’s move comes amid a US power struggle, with baseball baron Tom Ricketts making the latest offer for Chelsea.
The owner of the Chicago Cubs has taken off his hat just 24 hours after former US diplomat Woody Johnson made a £2 billion offer to buy the giant Prem.
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Ricketts has teamed up with billionaire hedge fund tycoon Ken Griffin to form a consortium where the deadline for buyers will be tomorrow.
Ricketts was shunned when he officially bought Chelsea in 2018.
But his camp still feels it gives them a head start as they know most of the club’s detailed finances from poring through previous books.
A third American, financier Todd Boehly, joined forces with Swiss rich Hansjorg Wyss two weeks ago to try to take over the Londoner.
And now Oaktree Capital, the £126 billion asset management firm run by LA-based Howard Marks, will join the race.
Abramovich had been hoping for around £3bn for the club he paid £140m in 2003 but is likely to settle for considerably less.
An offer of £2.7 billion for Chelsea has been made by Saudi Media Group, while Chelsea season ticket holder and property mogul Nick Candy are also trying to put together a group of investors to run the club.
https://www.the-sun.com/sport/4912217/chelsea-takeover-broughton-liverpool-seb-coe/ Sebastian Coe backs former Liverpool chairman Martin Broughton and his US conglomerate to complete Chelsea takeover