Saudi-backed consortium submit £2.7bn offer to buy Chelsea

March 14, 2022

That’s according to a recent report from CBS Sports reporter Ben Jacobs, who has claimed the Saudi media giants are keen to own the Premier League giants.

I can confirm Saudi Media Group have made a £2.7bn ($3.5bn) offer to buy Chelsea. Mohamed Alkhereiji is a Chelsea fan and leading a private consortium. No direct government links.
— Ben Jacobs (@JacobsBen) March 14, 2022

Current owner Roman Abramovich was recently sanctioned by the UK Government following the billionaire’s native Russia decision to invade Ukraine last month

Roman Abramovich has been sanctioned by the UK Government following Russia’s decision to invade Ukraine last month.

The rising tensions in Europe forced the Government to issue strict financial sanctions on wealthy Russian Oligarchs who can directly, or indirectly, aid President Vladimir Putin’s regime in their quest to ‘demilitarise’ neighbouring Ukraine escalates (Politico).

Consequently, Abramovich has had his assets frozen, including Chelsea Football Club, which is expected to be sold in the near future.

Who are Saudi Media Group and Mohamed Alkhereiji?

Saudi Media Group is a billion-pound media and publication company that primarily operates in the UAE.

Billionaire Mohamed Alkhereiji is the CEO of SMG and its parent company ‘Engineer Holding Group’.

Alkhereiji is understood to be leading SMG’s proposal to purchase Chelsea with his love for the club likely to stem from the three years he spent in the United Kingdom while attending Cass Business School and working at Deutsche Bank (Futball News).

The wealthy media tycoon is understood to have a personal net worth exceeding £2bn (Haqexpress).