Chelsea's sale deadline 'is extended until late next week'

The four bidders looking to buy Chelsea Football Club have reportedly been granted extra time to put forward their final bids to buy the Premier League side.

The initial deadline for the shortlisted bidders to make improved offers was set for Monday but Sky News are reporting that has now been pushed back by 'a small number of days'.

Sky News are claiming that the four prospective buyers were told not long after Chelsea's 3-1 defeat by Real Madrid on Wednesday that they would need to submit binding takeover proposals towards the back half of next week. 

One of the four bidders told Sky, while remaining anonymous, that they expect a final recommendation for the new owners to be put forward to the government by US bank The Raine Group in May.

The bidding process is being overseen by Raine, the merchant bank appointed by Roman Abramovich to find buyers before his assets were frozen by UK Government sanctions in response to Russia’s invasion of Ukraine. 

Sky are also reporting that a Raine Group source claimed the extension was put towards the back half of next week in order to 'give them a full and fair opportunity to adequately finalise the details of their proposals'.

The Raine Group are also said to be waiting for clearance from the Premier League before presenting a preferred buyer to the UK government.

Fresh controversy rocked the Chelsea bidding process earlier this month when ministers were asked to bar the shortlisted offer made by Bain Capital co-chairman Stephen Pagliuca.  

Most of those bids that have been shortlisted are known, with the Ricketts family and a consortium led by Sir Martin Broughton also in the running. Both of those bids have been hit by controversy, with fans already protesting about the Ricketts