MAN DOWN
Wyss and Boehly’s bid to buy Chelsea receives boost after Egyptian billionaire Loutfy Mansour pulls out of race
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BILLIONAIRE Loutfy Mansour has pulled out of the race to buy Chelsea from Roman Abramovich.
The development is a major boost for the American-Swiss billionaire consortium of Todd Boehly and Hansjorg Wyss, who continue to pose as favourites to take over the Blues.
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Egyptian businessman Mansour, who is also a Chelsea season ticket holder, addressed reports linking him with the club and stated he will not pursue ownership of the west Londoners.
A spokesperson told : "In light of the recent media speculation, we want to make it clear that we are not pursuing a bid for Chelsea Football Club at this time.”
Abramovich has put Chelsea up for sale following Russia's invasion of Ukraine and questions regarding his links with president Vladimir Putin, which he denies.
The Russian is facing potential sanctions from the UK government and has set the club's price at upwards of £3billion.
The 55-year-old has appointed US bankers Raine Group to find a buyer with a reported deadline of March 15.
Abramovich looks set to receive his first official offer before the end of the week from Boehly, who owns a stake in the LA Dodgers, and Wyss, who are weighing up a £2bn swoop.
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At least two other groups are considering a bid and Jim Ratcliffe, one of Britain’s richest men who is worth around £6bn, could lodge a proposal via his Ineos empire.
Abramovich has handed "stewardship and care" of the club over to Chelsea's charitable foundation.
The billionaire announced that proceeds from the sale of the club will go to victims of the war in Ukraine.
Although there are fears the net proceeds could be sent to Putin's troops.
HUGE STATEMENT
Announcing his decision to sell, Abramovich said in a statement: "I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC.
"As I have stated before, I have always taken decisions with the Club’s best interest at heart.
"In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.
"The sale of the Club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and Club."
The Russian says his team will set up a charitable foundation, with all proceeds of the sale will be donated.
He said: "All money raised will benefit all victims of the war in Ukraine.
"This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.
"Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. However, I do believe this is in the best interest of the Club.
"I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person.
"It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements.
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"Chelsea Football Club and its supporters will always be in my heart.
Thank you, Roman."
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