Chelsea FC sale: Bidders given April 11 deadline for final shootout

Between them, the final bidders either control or own stakes in US teams including the Boston Celtics, the Chicago Cubs, the LA Dodgers, the Philadelphia 76ers and the Sacramento Kings.

Tom Ricketts, the Cubs chairman, flew to London last week to address concerns raised by fans' groups about Islamophobic remarks made by his father, Joe, a decade ago. City sources said that Liberty Media Acquisition Corp , a New York-listed special purpose acquisition company - or SPAC - was among the parties which was eliminated from the auction, largely because of the complexity of finalising a deal on a timetable which was truncated by Mr Abramovich's sanctioning.

By the standards of conventional takeover processes, the Chelsea auction has moved at breakneck speed, with executives at other major investment banks suggesting that such a complex sale would typically have taken at least six months. A number of the remaining bidders are expected to make further refinements to the composition of their bids in the next fortnight.

Last week, the government agreed to further amend the licence allowing Chelsea to continue operating,The proceeds are to be retained by the Premier League and earmarked for a Ukrainian war victims charity.

Stinks of corruption

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