Sacramento Kings owner Ranadive launching Chelsea bid

Forum 2 years ago

Sacramento Kings owner Ranadive launching Chelsea bid

Sacramento Kings owner Vivek Ranadive is launching a bid for Roman Abramovich's Chelsea.

Sportico says Ranadive is putting the finishing touches to the proposal he will submit to Abramovich to try and take over the Stamford Bridge club.

Ranadive bought control of the Kings at a $534million (£407m) valuation back in 2013 and at their last valuation by Sportico are now worth £2.06billion.

Ranadive is a respected owner in the NBA and works on committees that help shape the future direction of the league.

Last week, Abramovich announced he is selling Chelsea after days of intensifying scrutiny over his involvement at the club amid Russia's invasion of Ukraine and sanctions being placed on oligarchs with ties to Vladimir Putin. At present, there are no sanctions placed on him.