Governing Bodies
Three bids submitted for Chelsea as deadline passes
Three bids have been made to purchase English Premier League club Chelsea by groups led by British property developer Nick Candy, Chicago Cubs owners the Ricketts family and the pairing of Martin Broughton and Sebastian Coe.
Premier League Chelsea were initially put up for sale by owner Roman Abramovich following Russia’s invasion of Ukraine before sanctions were imposed on the oligarch by the British government, effectively giving it control of the club.
Raine Group, a U.S. bank, has been overseeing the sale process since before the Russian billionaire was sanctioned, and set a 2100 GMT deadline on Friday for offers to be submitted, a deadline three bids have so far officially met.
South Korean companies Hana Financial Group and C&P Sports Limited have joined forces with Candy to bid two billion pounds ($2.64 billion) for Chelsea, a statement from Candy said on Friday.
It added that the consortium also includes “significant investors from Silicon Valley and tech billionaires that own other shareholdings in sports teams in the USA.”
“Football clubs are vitally important community and cultural assets, and this is a once-in-a-lifetime opportunity to give football back to the fans and put them at the heart of the operations and strategy of a leading global football club,” Candy told Reuters in a statement.
“I believe Chelsea has all of the fundamentals to become the most valuable and respected sports club in the world and a force for the greater good in everything it does.”
C&P Sports CEO Catalina Kim had earlier confirmed to Reuters that they and Hana were considering a bid.
“We are in the process of arranging our bid for Chelsea FC,” a statement read. “Surprisingly enough, despite the size of the economy, there has never been investment into (English) Premier League football clubs made by South Korean capital so far.
“Now it is time for a change and we are ready to start the new chapter with Chelsea FC.”
The owners of U.S. baseball team the Chicago Cubs, the Ricketts family, confirmed to Reuters that they had also made a bid for Chelsea, in conjunction with Citadel founder Ken Griffin.
Former British Airways chairman Broughton has teamed up with president of World Athletics Coe to become the third party to make an offer late on Friday.
“I am assembling a team that will ensure the future success and financial stability of a club I’ve supported for over 60 years,” Broughton said in a statement.
“We will secure a prompt purchase and smooth transition, with funds readily available for the immediate takeover of the club and immediate investment in the team, facilities, and commercial opportunities.
“I believe I am the right person to lead Chelsea as we start this new chapter for the club.”
Further bidders are expected to be confirmed in the coming days, with a source close to the dealings telling Reuters that Swiss billionaire Hansjoerg Wyss, who has linked up with LA Dodgers co-owner Todd Boehly, British businessman Jonathan Goldstein and Conservative peer Daniel Finkelstein, has also submitted an offer.
MISUNDERSTANDING
Turkish businessman Muhsin Bayrak, who had previously expressed interest in the club, said late on Friday that his company AB Group Holding had not filed a bid to Raine Bank.
Bayrak blamed AB Group’s failure to meet the deadline due to a misunderstanding with his lawyers over the auction procedure. “I am very upset,” he told Reuters.
According to emails seen by Reuters, AB Group’s lawyers contacted the UK Department for Digital, Culture Media & Sport using a generic email address to file an enquiry, rather than to file a bid to the U.S. investment bank.
Hana Financial Group is a South Korean investment bank and financial services company headquartered in Seoul, Korea. The group is also the title sponsor of the Korean Football League and the national soccer team.
C&P Sports Limited is a leading sports consultancy company based in London and Seoul.
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.
Candy, a lifelong Chelsea fan, had been joined by former Blues player and manager Gianluca Vialli as he prepared his bid.
“I have met Nick Candy on a number of occasions over the last few weeks and I am fully behind his visions,” Italian Vialli said in a statement after it was announced the company he co-founded, Tifosy, will act as lead advisor for the process.
($1 = 0.7587 pounds)
-Reuters
The president of the Confédération of African Football, Dr. Patrice Motsepe, has announced five new CAF Vice Presidents. They are:
- CAF First Vice President: Mr Fouzi Lekjaa (Morocco)
- CAF Second Vice President: Mr Kurt Okraku (Ghana)
- CAF Third Vice President: Mr Pierre-Alain Mounguengui (Gabon)
- CAF Fourth Vice President: Ms Bestine Kazadi Ditabala (Democratic Republic of Congo)
- CAF Fifth Vice President: Mr Feizal Sidat (Mozambique)
In addition, the CAF President has co-opted Yacine Idriss Diallo, President of Fédération Ivoirienne de football, into the CAF Executive Committee.
The CAF Executive Committee also approved the names to fill vacant positions on several CAF Committees.
Organising Committee for the African Nations Championship (CHAN)
- President: Pierre-Alain Mounguengui (Gabon)
CAF Technical and Development Committee
- President: Samuel Eto’o (Cameroon)
- Vice President: Malouche Belhassen (Tunisia)
CAF Medical Committee:
- President: Dr. Mohammed Bouya (Mauritania)
- Vice President: Dr. Thulani Ngwenya (South Africa)
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Governing Bodies
Nigeria becoming an epicentre of global badminton as Francis Orbih enters the Badminton World Federation Council
Laurels on the courts and now glory in the boardroom sums up the mark that badminton is making in Nigeria.
The President, Badminton Federation of Nigeria (BFN), Francis Orbih, has been elected as a council member of the Badminton World Federation (BWF).
The election took place during the BWF Annual General Meeting on Saturday in Xiamen, China.
Orbih emerged victorious over top contenders from other African countries.
He will join Cameroon’s Odette Assembe Engoulou on the council, while Chipo Zumburani (Zimbabwe) and Hadia ElSaid (Egypt) missed out.
An elated Orbih expressed his gratitude to fellow badminton presidents across the globe for their trust and support.
He said, “I am deeply honoured by the trust placed in me by my peers across the badminton world.
“I look forward to quality representation, driving development initiatives, and strengthening badminton’s global reach over the next four years.”
Orbih also acknowledged the support of the Federal Government of Nigeria, particularly the National Sports Commission (NSC), which he said played a significant role in his successful bid.
“The Chairman and the Director General of the NSC monitored the entire process. I’m grateful for their involvement and confident Nigeria will benefit from this,” he stated.
He further appreciated the BFN board members and the Nigerian badminton community for their prayers and continued belief in his leadership.
“From the day I declared my intentions, the board members of BFN have been supportive, and I promise not to disappoint them,” Orbih concluded.
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A former member of the FIFA Council, Mamoutou Toure, has been released from jail in Mali after almost two years in detention for alleged corruption, Malian media reports said on Wednesday.
Toure, president of the Malian Football Federation since 2019, was released after 622 days in prison on Tuesday.
He served on the FIFA Council, world football’s all-powerful decision-making body, for four years until last month when he lost his seat after failing to contest new elections.
The 67-year-old was arrested in August 2023 on allegations of embezzling $28 million of public funds but was granted a provisional release order by the Malian courts, reports said.
He was accused of misconduct during his time as the National Assembly’s financial and administrative director from 2013-2019.
Toure denied all charges and, during his time in jail, was last August re-elected as Malian Football Federation president for a second consecutive term, with his supporters claiming he was a victim of a conspiracy fuelled by detractors.
While in jail, he received a letter of support from FIFA president Gianni Infantino. However, as of last month, Toure is no longer a member of the FIFA Council or the Confederation of African Football’s executive committee.
-Reuters
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