Chelsea sale: Lord Coe joins ex-Liverpool chairman Martin Broughton's consortium to buy Blues

President of World Athletics Sebastian Coe has joined Martin Broughton's consortium to buy Chelsea. The Olympic gold medallist has endorsed the former Liverpool chairman's bid, citing his lifelong Chelsea fan credentials in addition to his business track record.

Broughton became Liverpool chairman on a short-term basis in 2010 and helped facilitate the club's sale to Tom Werner's Fenway group. That involved dealing with the Royal Bank of Scotland as the Reds' chief lender, meaning the Sports Investment Partners chair already has experience negotiating with Government involvement.

PA reports that Lord Coe would have a seat on Chelsea's board should the consortium be successful. The former middle-distance runner has previously enjoyed roles encompassing a Conservative MP, chairman of the London Organising Committee for the Olympic Games and chairman of the British Olympic Association.

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Coe said in a statement: "I am certain that Sir Martin is the right man to lead Chelsea Football Club into its next chapter. He has an exceptional track record in British business, as well as unrivalled experience in shepherding Liverpool out of a very difficult situation.

“He has the vision, acumen and financial backing to ensure our club’s future success, keeping Chelsea Football Club at the top of European football and challenging for trophies. But most importantly, like me, he is a lifelong Chelsea supporter and Shed End season-ticket holder. I know that this bid is for the millions of Chelsea fans around the world. We love our club and will always put the fans first.”

Broughton is chairman of British Airways and saw his initial success