The interest of the Saudis in the acquisition of the London club became known on March 12. Saudi Media is a foundation that is actively involved in the financing of media, and sports brands around the world. The fund mainly works for the Arab market, and the company has offices in the UAE and Saudi Arabia.
On March 5, former UFC champion Conor McGregor said he was ready to buy Chelsea for 1.5 billion pounds ($1.98 billion). According to The Telegraph on 1 March, Abramovich wanted to sell the club for £4bn. ESPN reported that the Russian businessman was ready to accept a £3bn offer, but none came up.
Chelsea were put up for sale by Roman Abramovich on March 2. Eight days later, on March 10, the Russian businessman was put on the UK government’s sanctions list. All of Abramovich’s assets were frozen.
Because of the sanctions imposed on Abramovich, the process of managing Chelsea has become more complicated. The license issued by the government to continue football activities has limited the club’s ability to manage only funds from the reserve fund. The Telegraph claims Chelsea have £17m available. The club’s payroll alone is £27m a month. The government also banned the club from buying new players and renewing existing contracts.
