LONDON: Chelsea are expected to get a new owner at the end of next month with only four bidders still vying.
U.S. investment bank Raine Group said the four still -competing parties have until April 11 to submit their renewed bids for the club.
While the government wants it done as soon as possible, the agreement is expected to be signed in the next five weeks. And the matter must get the approval of the English Premier League (EPL) and the government.
All four bidders are still competing including there are ties to sports franchises from the US with only two having genuine ties to the British.
It is a consortium led by former British Airways owners Sir Martin Broughton and Lord Sebastian Coe, which gets funding from the US through Josh Harris and Dave Blitzer.
Harris and Blitzer, who own the NBA team, the Philadelphia 76ers NBA and the ice hockey team, New Jersey, will have to sell their stake in Crystal Palace if the offer against Chelsea is approved.
LA Dodgers co -owner Todd Boehly was among the options including Switzerland’s richest man, Hansjorg Wyss and London -based real estate company owner Jonathan Goldstein.
The Ricketts family, owners of the Chicago Cubs, overcame a real hurdle last week despite failing to convince Chelsea supporters to approve their campaign.
And the fourth bidder was led by billionaire who is also Boston Celtics owner Stephen Pagliuca.