TIMES.KY

Cayman Islands, Caribbeanand International News
Monday, Feb 26, 2024

Turkish billionaire Muhsin Bayrak confirms Chelsea takeover bid

Turkish billionaire Muhsin Bayrak confirms Chelsea takeover bid

Turkish businessman Muhsin Bayrak says he has launched an offer to take over the ownership of Chelsea.

Roman Abramovich has put Chelsea up for sale

Roman Abramovich unveiled his plans to sell Chelsea on Wednesday night, just days after it was revealed that the club’s ‘stewardship and care’ had been given up to its foundation trustees amid the threat of anti-Russian sanctions.

It comes after Russian military forces launched a full-scale invasion of neighbouring Ukraine under the orders of president Vladimir Putin, who Abramovich has allegedly held close ties with in the past.

Abramovich – who has overseen 15 managers and 21 trophies across his 19-year-old reign – values the Blues at between £3-4bn and has vowed to donate all net proceeds from the impending sale to victims of the conflict in Ukraine.

Swiss philanthropist Hansjorg Wyss and LA Dodgers co-owner Todd Boehly have since made their interest known and are said to be preparing a joint offer for the west London giants.

Meanwhile, Bayrak, the billionaire owner of construction company AB Grup Holding, has confirmed he is ‘confident’ of completing a takeover after lodging a bid to succeed Abramovich at Stamford Bridge.

‘Yes, we definitely confirm. We have forwarded our offer regarding this to them,’ a spokesperson of the Turk told The Guardian.

Bayrak had earlier told Turkish media: ‘We are discussing the terms of Chelsea’s purchase with Roman Abramovich’s lawyers.

‘We’re negotiating signatures. We will soon fly the Turkish flag in London.’

Muhsin Bayrak has launched a bid for Chelsea


According to The Guardian, as many as ten interested parties have emerged as potential buyers following Abramovich’s stunning announcement in midweek.

However, one of those that had been credited with a strong interest, Loutfy Mansour, distanced themselves from the speculation on Friday, denying rumours of a possible takeover bid.

‘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,’ the billionaire Egyptian businessman said.



Former Chelsea captain John Terry led the tributes for Abramovich after the Russian-Israeli oligarch confirmed that his near 20-year tenure in west London was coming to an end.

But there has been a fierce backlash to those mourning Abramovich’s looming departure, with Pat Nevin urging supporters and ex-players to ‘put away the violins’.

The former Chelsea and Scotland winger told BBC Radio 5 live: ‘The first couple of statements Chelsea released were limp and that is being kind. This one is stronger and close to doing the right thing.

‘Chelsea fans will be concerned about the club going forward. The club will survive and let’s get this into perspective. It is a football club, it is only a game and there are bigger fish to fry right now.

‘Chelsea might be lucky and get a wealthy owner. Have a look at what has happened to Barcelona and Real Madrid, teams go through ups and down, Real fans understand that.

‘Put away the violins because the tears need to be about somewhere else in the world.’

Nevin added: ‘It would be good if the club was sold for a profit so it could help the Ukrainian people.

‘The club has been running on getting things back on an even keel for a few years because Roman Abramovich knew all along he wasn’t going to last forever.’

Newsletter

Related Articles

TIMES.KY
0:00
0:00
Close
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
×