George Osborne drafted in to advise US group on a £2.5bn Chelsea bid

George Osborne has been drafted in to boost a £2.5billion bid to buy Chelsea FC, it emerged last night.

The former Chancellor is advising a US group competing to buy the club from Roman Abramovich, with the successful bidder likely to be announced as soon as this week.

The Premier League club was hastily put up for sale last month after oligarch Abramovich was sanctioned by the Government after Russia’s invasion of Ukraine.

Chelsea fan Mr Osborne is advising a consortium fronted by American billionaire Todd Boehly after the City firm he joined last year, Robey Warshaw, signed up as an adviser. 

Mr Osborne is also a friend of Lord Finkelstein, the Tory peer who has agreed to join Chelsea’s board if Mr Boehly is successful.

There are two rival bids – one headed by former Liverpool FC chairman Sir Martin Broughton, the other by the Boston Celtics basketball team co-owner Steve Pagliuca and National Basketball Association chairman Larry Tanenbaum. Final offers had to be lodged by last Thursday.