Celtics co-governor Steve Pagliuca’s investment consortium among 3 remaining in bid to buy Chelsea FC

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It looks like Boston Celtics co-owner Steve Pagliuca’s group offering to buy Premier League (as in football) football club Chelsea is progressing as one of the bottom three groups still in contention, but ” would be questioned in the long term”. plans” for the franchise, according to Ilaria Grasso Macola of City AM.

The three remaining consortia – which include Sir Martin Broughton, Los Angeles Dodgers’ Todd Boehly and Pagliuca’s group – have been ‘asked to confirm future spending (and) secure long-term financial commitment from investors’ by Macola . “Raine and the club’s board appear to be focused on deciding which bidder will be Chelsea’s best steward in the long term,” an investor quoted in the report said.

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“From our point of view, we welcome this,” added the anonymous investor. “The consortia have also been told they are expected to provide an investment of at least £1bn to support the club’s infrastructure development as well as its academy and women’s team,” the CTY AM writer notes.

It’s unclear how long it will take to satisfy all aspects of the process beyond board due diligence (and getting board approval), but Pagliuca’s group remains a strong candidate for the job. instant.

This post originally appeared on Celtics Wire. follow us on Facebook!

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