Full details of Chelsea takeover process as bidders prepare offers on deadline day - The Mirror

Chelsea's tenure under Roman Abramovich is due to end with potential bidders coming to the table as they attempt to lodge an offer for the Premier League side before Friday's deadline

Chelsea's uncertain future may become a bit clearer by the close of play Friday as potential owners submit their bids.

The Blues have been in limbo over the past couple of weeks due to sanctions played upon them following the Government's decision to freeze Roman Abramovich's assets. The Russian has owned the west London outfit since 2003 but his alleged links to Vladimir Putin have landed him in hot water following the ongoing invasion into Ukraine.

Chelsea are currently unable to buy any players or engage in contract talks with their current squad. That is due to the sanctions placed upon them, which has also seen the club shop close for business and restrictions placed on their travel costs. Potential new owners have spoken publicly about their interest and possible intentions should they acquire the club ahead of Friday's deadline.

How many groups will bid for Chelsea?

As many as 30 parties have expressed their interest in the west London side. A £3bn price tag has been slapped on the club as Abramovich looks to sell up with several big names making their interest known. Despite that only around 10 bidders are expected to come to the table due to the costs involved.

Property tycoon Nick Candy, himself a Chelsea fan, has spoken about his interest which includes plans to include fans whilst also redeveloping Stamford Bridge. The Ricketts Family, owners of MLB side the Chicago Cubs, also issued a statement confirming their interest as part of a consortium of bidders.

Who makes the decision and when does bidding close?

The Raine Group are managing the bids for the Premier League outfit. The New York-based bank are responsible for managing over £3bn worth of assets worldwide, but Chelsea will be their main focus over the coming days. Group partner Joe Ravitch will lead the process and assess the bids which are lodged, while the Government will also play a role having placed sanctions on the club.

The Raine Group will end the bidding process at 5pm US time (9pm GMT). A preferred party could be in place by the end of next week as they riffle through the prospective offers, which will see three of four main bidders left at the table.

Will the highest bidder win?

It is not as simple as those with the deepest pockets winning the race for Chelsea ownership. A cash offer is seen as "crucial" but will not be the sole factor in determining who ends up in charge. An ability to preserve employment at all levels and fulfil the club’s existing financial obligations will also be key. Any potential owner will also have to pass the Premier League's owners’ and directors’ test, which is under heavy scrutiny following recent events.

When will a new owner be in place?

A takeover is expected to be completed by the summer which should allow the Blues to enter next season under new ownership. Chelsea want to secure a quick sale but the process could be prolonged should losing bidders opt to take matters to court. Abramovich himself must also green light any sale.