Chelsea takeover: Saudi offer fails as Raine Group start shortlist process

Saudi Media have been taken out of the running to buy Chelsea.

Bidders have been discovering on Thursday if they will be shortlisted in the race to take over the European champions.

Standard Sport understands a host of candidates were still waiting to find out if they would be advanced to the next stage, while others were being informed they had been unsuccessful.

Bidders have been left in the dark by US merchant bank, Raine Group, for much of the process since last Friday’s deadline for official offers.

They still do not know if a shortlist will be publicly announced.

But it appeared on Thursday that unsuccessful candidates discovered their fate first.

Sir Martin Broughton was one of those still to learn if he was still in contention as news filtered out about rejected bids.

The Ricketts family and Todd Boehly’s consortium have been considered favourites throughout the process.

While there were suggestion in America that the Ricketts’ were among the preferred bidders, there has yet to be confirmation of this.

Woody Johnson and Aethel Partners are also said to have been unsuccessful.

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