Following the submission of bids last week, Chelsea is currently narrowing down their potential new owners.
Saudi Media Group, one of Chelsea's potential buyers, has reportedly failed to make the final cut as the Blues trim down their pool of bidders. Following Russia's invasion of Ukraine, Roman Abramovich, who bought the club in 2003, was slammed with UK government sanctions, and the club is due to change ownership.
Chelsea has been struggling behind the scenes since Abramovich was sanctioned earlier this month, with the club losing access to its owners' funds as a result. As a result of the government action, ticket sales, product sales, player contracts, and fresh signings have all been put on hold.
Saudi Media Group was one of several high-profile buyers that made their interest in buying the club public. According to a report from GOAL, their bid has not moved to the final level as the club works through last week's final bids.
However, their attempt to take over at Stamford Bridge may not be finished. The story goes on to say that Saudi Media Group would be willing to forming a new partnership with one of the preferred bidders.
Abramovich, Roman
After purchasing Chelsea in 2003, Roman Abramovich is prepared to pass over ownership. (Image courtesy of GETTY)
It remains to be seen whether they carry out their plan. They are thought to be contemplating their options, while no other groups have been approached as of yet, according to sources.
Saudi Media Group has previously played football for Al-Nassr, a domestic club in Saudi Arabia, but claimed ties to the country's government may have been a stumbling block. The firm denies any such ties, claiming that they were ready to invest £200 million in the club right away.
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