Final Chelsea bidders prepared to increase their cash offers

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Final Chelsea bidders prepared to increase their cash offers

Competing groups for control of Chelsea are ready to up their offers for Roman Abramovich's club.

The Daily Mail says the group led by US tycoon Todd Boehly have received formal notification from merchant bank Raine, who are advising Chelsea on the sale, that they have have made shortlist of preferred bidders, as have the consortium fronted by Sir Martin Broughton and Lord Coe - but heavily funded by Crystal Palace shareholders David Blitzer and Josh Harris.

The Ricketts Family's bid, that has been at the centre of a major backlash from supporters over a series of leaked emails from patriarch Joe in which he calls Muslims the 'enemy', has also been informed they have also made the next stage of the process.

They are joined by Boston Celtics owner Stephen Pagliuca, who co-chairs private equity group Bain Capital, on the final shortlist while there were suggestions of a fifth mystery bidder on Friday night.

The consortium led by LA Dodgers part-owner Boehly, that also includes Swiss partner Hansjorg Wyss and British businessman Jonathan Goldstein, and the group fronted by Broughton and Coe are believed to be the two early favourites to buy the club from current owner Roman Abramovich.

It remains to be seen what impact Blitzer and Harris' shareholding at Palace will have on the Broughton and Coe bid given the US pair will have to divest their ownership at Selhurst Park, which could be a lengthy process. Sources have also indicated that Broughton's son Michael is also involved.

While all four shortlisted parties have lodged their initial offers, the consortiums are willing to up their bids during the crucial second phase - and will seek clarity over whether they are permitted to do so.

That scenario would effectively turn the next round of the process into an auction.