Deadline approaching as bidders assemble to take Chelsea from Roman Abramovich

Chelsea, with business people from different continents forming unlikely alliances to acquire the Premier League club. Chelsea were initially put up for sale by owner Roman Abramovich following Russia's invasion of Ukraine before sanctions were imposed on the Russian oligarch by the British government. The European champions are currently operating under a special licence and are now effectively controlled by the British government.

Raine Group, a US bank, has been overseeing the sale process since before the Russian billionaire was sanctioned, and have set a 2100 GMT deadline for offers to be submitted. Raine will make a decision around the preferred bidder and the government will only step in once they have received satisfactory evidence that Abramovich will not make any financial gain. From there it will be up to the prospective buyer to pass the Premier League's Owners' and Directors' Test before completing their takeover.

The Owners' and Directors' Test outlines requirements that would prohibit an individual from becoming an owner or director of a club. These include criminal convictions for a wide range of offences, a ban by a sporting or professional body, or breaches of certain key football regulations, such as match-fixing. BIDDING WAROne bidder has already submitted an offer.

London-based financial firm Aethel Partners confirmed to Reuters that they have put in a bid of over 2 billion pounds ($2.63 billion) for Chelsea, adding that they will provide the club with an immediate sum of 50 million pounds to deal with any short-term financial issues. Some famous faces are involved in several other prospective bids. British property developer Nick Candy, a Chelsea supporter, said he was interested in making a offer,