Connect with us

Governing Bodies

Factbox: List of confirmed bidders to buy Chelsea

blank

Published

on

blank
A shop selling the merchandise of Chelsea Football Club is seen closed at Stamford Bridge after Britain imposed sanctions on its Russian owner, Roman Abramovich, in London, Britain, March 10, 2022. REUTERS/Hannah Mckay

Following is a list of confirmed bidders that have announced they will seek to buy English soccer club Chelsea after Russian team owner Roman Abramovich was hit by UK government sanctions following Russia’s invasion of Ukraine.

NICK CANDY, HANA FINANCIAL INVESTMENT COMPANY LIMITED AND C&P SPORTS LIMITED

South Korea companies Hana Financial Investment Company Limited and C&P Sports Limited have joined forces with British Property developer Nick Candy to make a bid for Chelsea.

Candy, a lifelong Chelsea fan, has also been joined by former Blues player and manager Gianluca Vialli as he prepares his bid.

Sky News reported that a central part of Candy’s pitch to buy Chelsea was the proposal to offer a seat on the board to fans and he was in talks with financiers about them joining his bid ahead of a deadline for offers at the end of the week.

Advertisement

He will also offer short-term funding if Chelsea face a cash crunch, the report added.

Hana Financial Group is the title sponsor of the Korean Football League and the national soccer team.

C&P Sports has worked on commercial deals with several big clubs in the last 10 years, such as Kumhos Tyres with Tottenham Hotspur, Nexen Tyre with Manchester City and Hyundai Motors with Atletico Madrid.

AETHEL PARTNERS

London-based financial firm Aethel Partners said they have put in a bid of over two billion pounds for Chelsea, adding that they will provide the club with an immediate sum of 50 million pounds to deal with any short-term financial issues.

Advertisement

Aethel Partners was established in 2014. It was founded by Ricardo Santos Silva, former deputy president of hedge fund Lyxor Asset Management, and Aba Rosa Schubert, who was previously a partner at Eton Park Capital Management, a hedge fund.

MARTIN BROUGHTON AND SEBASTIAN COE

World Athletics President Sebastian Coe has joined a consortium including former Liverpool chairman Martin Broughton that hopes to buy Chelsea.

“I am certain Sir Martin is the right man to lead Chelsea Football Club into its next chapter,” Coe said in a statement to British media. read more

Broughton is the deputy chairman of International Airlines Group, which owns British Airways and Iberia.

Advertisement

THE RICKETTS FAMILY AND KEN GRIFFIN

The owners of U.S. baseball team the Chicago Cubs, the Ricketts family, have teamed up with Citadel founder Ken Griffin to work on a bid to buy Chelsea, a spokesperson for Griffin said. read more

The Ricketts family expressed interest in acquiring a controlling stake in Italian club AC Milan in 2018.

They have formed an investment group which is set to make a formal offer for the London club on Friday.

Reuters has been told the bid does not involve Citadel, the hedge fund business, only Griffin.

Advertisement

HANSJOERG WYSS AND TODD BOEHLY

Swiss billionaire Hansjoerg Wyss, who had expressed interest in purchasing Chelsea along with LA Dodgers co-owner Todd Boehly, told Swiss newspaper Blick that he remained interested in a deal. read more

Wyss, 86, made a large share of his fortune by selling med-tech company Synthes Holding AG to Johnson & Johnson in 2012 for nearly $20 billion.

Boehly previously considered making a takeover offer for Tottenham Hotspur in 2014 through Cain Hoy Enterprises, a U.S. private investment company, of which he is one of the founders.

Conservative peer Daniel Finkelstein said he was also a part of the bid.

Advertisement

“I’m passionate about Chelsea to the point of eccentricity,” Finkelstein wrote on Twitter. “I want owners who will invest but are also insightful and use modern methods to keep our club on top of the world.”

($1 = 0.7593 pounds)

-Reuters

 

Advertisement

Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

Continue Reading
Advertisement

Governing Bodies

IOC is in ‘best of hands’, says Bach as he hands over to Coventry

blank

Published

on

blank
International Olympic Committee President Kirsty Coventry receives the ceremonial key from outgoing IOC President Thomas Bach during the handover ceremony. AFP

Kirsty Coventry became the president of the International Olympic Committee (IOC), the most powerful person in sport, on Monday in a handover ceremony with her predecessor Thomas Bach.

The Zimbabwean is the first woman and African to head the body, and at 41, the youngest since Baron Pierre de Coubertin, who is credited with founding the modern-day Olympics.

Coventry accepted the Olympic key from Bach, who, like her, is an Olympic champion — he won a team fencing gold in 1976 and she earned two swimming golds in 2004 and 2008.

Stepping down after a turbulent 12-year tenure, Bach expressed his confidence that the Olympic movement was “in the best of hands” and Coventry would bring “conviction, integrity and a dynamic perspective” to the role.

Coventry, who swept to a crushing first-round victory in the election in Greece in March, leans heavily on her family.

Advertisement

Aside from her parents, who were present at the ceremony in Lausanne, there is her husband Tyrone Seward, who was effectively her campaign manager, and two daughters, six-year-old Ella, who Bach addresses as “princess”, and Lily, just seven months old.

“Ella saw this spider web in the garden and I pointed out how it is made, and how strong and resilient it is to bad weather and little critters,” said Coventry, who takes over officially at midnight Swiss time Monday (2200 GMT).

“But if one little bit breaks it becomes weaker. That spider web is our movement, it is complex, beautiful and strong but it only works if we remain together and united.”

‘Pure passion’

Coventry said she could not believe how her life had evolved since she first dreamt of Olympic glory in 1992.

Advertisement

“How lucky are we creating a platform for generations to come to reach their dreams,” she said to a packed audience in a marquee in the Olympic House garden, which comprised IOC members, including those she defeated, and dignitaries.

“It is amazing and incredible, indeed I cannot believe that from my dream in 1992 of going to an Olympic Games and winning a medal I would be standing here with you to make dreams for more young children round the world.”

Coventry, who served in the Zimbabwean government as sports and arts Minister from 2019 to this year, said the Olympic movement was much more than a “multi-sport event platform.”

“We (IOC members) are guardians of this movement, which is also about inspiring and changing lives and bringing hope,” she said.

“These things are not to be taken lightly and I will be working with each and every one of you to continue to change lives and be a beacon of hope in a divided world.

Advertisement

“I am really honoured to walk this journey with you.”

Bach, who during his tenure had to grapple with Russian doping and their invasions of the Crimea and Ukraine as well as the Covid pandemic, said he was standing down filled with “gratitude, joy and confidence” in his successor.

“With her election it sends out a powerful message, that the IOC continues to evolve,” said the 71-year-old German, who was named honorary lifetime president in Greece in March.

“It has its first female and African to hold this position, and the youngest president since Pierre de Coubertin. She represents the truly global and youthful spirit of our community.”

Bach, who choked back tears at one point during his valedictory speech, was praised to the rafters by Coventry, who was widely seen as his preferred candidate of the seven vying for his post.

Advertisement

After a warm embrace, she credited him with teaching her to “listen to people and to respect them,” and praised him for leading the movement with “pure passion and purpose.”

“You have kept us united through the most turbulent times.

“You left us with many legacies and hope, thank you from the bottom of my heart for leading us with passion and never wavering from our values.”

-AFP

Advertisement

Join the Sports Village Square channel on WhatsApp: https://whatsapp.com/channel/0029Vaz7mEIGk1FxU8YIXb0H

Continue Reading

Governing Bodies

New IOC head Coventry already counting down to LA 2028

blank

Published

on

blank
Kirsty Coventry takes over as the new International Olympic Committee President - IOC headquarters, Lausanne, Switzerland - June 23, 2025 New IOC president Kirsty Coventry during the ceremony REUTERS/Pierre Albouy

Former Zimbabwean swimmer Kirsty Coventry took over the leadership of the International Olympic Committee from Thomas Bach in a ceremony on Monday with the 2028 Los Angeles Games already threatening to fill her in-tray to overflowing.

Coventry, who starts her eight-year spell officially on Tuesday as the most powerful sports administrator in the world, became the first woman and first African to be elected head of the Olympic ruling body in March.

Much of the discussion during campaigning focused on the IOC’s need for change in its marketing strategies with several top Olympic sponsors having left in the past 12 months.

However, with Los Angeles hit by protests against immigration raids, and relations tense between state and city officials, and the U.S. government, the 2028 Games have become the major talking point in the movement that would ordinarily be focusing on next year’s Milano-Cortina Winter Games.

Coventry has long-standing ties with the United States, dating back to her time as a leading swimmer at Auburn University in Alabama. That will prove useful ahead of LA 2028, and she has said she will seek to meet with U.S. President Donald Trump to discuss the Games.

Advertisement

Coventry will also need to find time to help secure the long-term finances of the movement. The IOC, which generates billions of dollars in revenues each year in sponsorship and broadcasting deals for the Olympics, has secured $7.3 billion for 2025-28 and $6.2 billion for 2029-2032. More contracts are expected for both periods.

COMMERCIAL OPPORTUNITIES

Coventry is also expected to continue the IOC’s plans to expand commercial opportunities for sponsors at the Olympics with the organisation’s finances in a robust state and the privately-funded LA Olympics a good place to start.

Coventry needed only one round of voting to clinch the race to succeed Bach, beating six other candidates, making history for the African continent, with the IOC having been ruled for 131 years by European or North American men.

Her background and being the first female president will be assets in a diverse IOC membership and the international makeup of Olympic stakeholders.

Advertisement

On Monday she was handed the golden key to the IOC by Bach, who was the organisation’s president for 12 years.

“I am really honoured I get to walk this journey with you. I cannot wait for anything that lies ahead,” Coventry said in her address to IOC members and other Olympic stakeholders.

“I know I have the best team to support me and our movement over the next eight years.”

Coventry will hold a two-day workshop this week to get feedback from members on key IOC issues.

“Working together and consistently finding ways to strengthen and keep united our movement that will ensure that we wake up daily… to continue to inspire,” she said.

Advertisement

A seven-time Olympic medallist, Coventry won 200m backstroke gold at the 2004 Athens Games and in Beijing four years later.

“With her election, you have also sent a powerful message to the world: the IOC continues to evolve,” Bach said in his speech. “With Kirsty Coventry, the Olympic movement will be in the best of hands.”

-Reuters

Join the Sports Village Square channel on WhatsApp: https://whatsapp.com/channel/0029Vaz7mEIGk1FxU8YIXb0H

Advertisement
Continue Reading

Governing Bodies

Accidental double-touch penalties must be retaken if scored, says IFAB

blank

Published

on

blank
Champions League - Round of 16 - Second Leg - Atletico Madrid v Real Madrid - Metropolitano, Madrid, Spain - March 12, 2025 Atletico Madrid's Julian Alvarez scores a penalty during the penalty shootout wich is later disallowed after a VAR review for a double touch. REUTERS/Susana Vera/File Photo

Penalties scored when a player accidentally touches the ball twice must be retaken, world soccer’s lawmaking body IFAB has said after Atletico Madrid’s Julian Alvarez had his spot kick disallowed in a Champions League last-16 match.

During a tense shootout with Real Madrid in March, Argentine forward Alvarez slipped and the VAR spotted that his left foot touched the ball slightly before he kicked it with his right.

Although Alvarez converted the penalty, the goal was chalked off and Atletico went on to lose the shootout and were eliminated from the Champions League.

European soccer’s governing body UEFA said the correct decision was made under the current laws but IFAB (International Football Association Board) has said that in such cases the penalty must be retaken.

blank

Atletico Madrid v Real Valladolid – Metropolitano, Madrid, Spain – April 14, 2025 Atletico Madrid’s Julian Alvarez scores their first goal from the penalty spot REUTERS/Susana Vera/File Photo

“(When) the penalty taker accidentally kicks the ball with both feet simultaneously or the ball touches their non-kicking foot or leg immediately after the kick: if the kick is successful, it is retaken,” IFAB said in a circular.

Advertisement

“If the kick is unsuccessful, an indirect free kick is awarded (unless the referee plays advantage when it clearly benefits the defending team). In the case of penalties (penalty shootout), the kick is recorded as missed.”

The decision to disallow Alvarez’s penalty left Atletico boss Diego Simeone livid and the club’s fans outraged.

IFAB added that if the penalty taker deliberately kicks the ball with both feet or deliberately touches it a second time, an indirect free kick is awarded or, in the case of shootouts, it is recorded as missed.

The new procedures are effective for competitions starting on or after July 1, but IFAB said it may be used in competitions that start this month.

-Reuters

Advertisement

  Join the Sports Village Square channel on WhatsApp: https://whatsapp.com/channel/0029Vaz7mEIGk1FxU8YIXb0H

Advertisement
Continue Reading

Most Viewed