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Saudi Media Group instantly react after failing to buy Chelsea

A member of the Saudi Media Group has shared their disappointment after failing with their takeover bid to buy Chelsea.

SMG director Khalid Al Khudair, who’s a member involved in the Saudi’s takeover attempt, confirmed on Twitter their bid has failed.

 

In addition, Guardian journalist Jacob Steinberg reported the Saudi Media Group has been informed by the Raine Group, who are the US bank overseeing Chelsea’s sale, that they’re not on the final shortlist.

The Saudis reportedly made a £2.7billion offer to buy the London club but have missed out to rival bidders.

It looks like the Blues fanbase are slowly starting to get an idea of who the frontrunners are in the race to win the club’s ownership.

For example, it was reported yesterday that Todd Boehly’s consortium is expected to be on the final shortlist that are fighting it out to succeed Roman Abramovich as Chelsea’s owner.

Of course, the government is going to need to approve the selection put forward by the Raine Group.

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