LA Dodger’s owner set to be named Chelsea’s preferred bidder

Chelsea’s time in limbo is set to come to an end with a consortium led by LA Dodger’s owner, Todd Boehly, set to be named as the preferred bidder for the club.

The club was put up for sale before owner Roman Abramovich was sanctioned for his alleged links to Russian president Vladimir Putin following the invasion of Ukraine.

Earlier on Friday, British billionaire Sir Jim Ratcliffe made a £4.25bn offer. The late offer is understood to have prompted confusion among rival bidders, as a deadline before March 18 had been set.

Ratcliffe – majority shareholder of chemical group Ineos, who took over Sky’s majorly successful Cycling team – pledged to invest £1.75bn into the club over 10 years as part of his submission.

But the offer arrived on Friday morning, weeks beyond the initial deadline for bids of 18 March.

Chelsea and Boehly have not officially commented on his group’s position as preferred bidders.

The American investor and businessman – who has offered around £2.5bn for the club – has a reported net worth of $4.5bn (£3.6bn) according to Forbes.

Boehly’s consortium includes Swiss billionaire Hansjorg Wyss, who was one of the first people touted with purchasing Chelsea.

The club are currently operating on a special license, given to them buy the UK Government, but that runs out May 31, and time is running out to complete a deal.