John Terry joins consortium tender for Chelsea property

Former Chelsea captain John Terry has joined US investor Stephen Pagliuca and NBA chairman Larry Tanenbaum in buying the Premier League club.

In a statement on Wednesday, Pagliuca said Tanenbaum, owner of the Canadian company Maple Leaf Sports and Entertainment (MLSE), had become a “co-manager” of the offer.

MLSE owns the Toronto Maple Leafs of the NHL, the Toronto Raptors of the NBA and Toronto FC of Major League Soccer.

Pagliuca also said the “True Blues Consortium”, which includes fans and former players, including John Terry, was also behind his candidacy.

“The group welcomes the endorsement and support of the True Blues Consortium, an organization dedicated to Chelsea FC and focused on representing the interests of fans for the club,” the statement read.

Chelsea were put up for sale by owner Roman Abramovich after Russia invaded and before sanctions were imposed on the oligarch by the British government.

Tanenbaum said he and Pagliuca plan to improve the club’s current Stamford Bridge stadium.

“I can reassure Chelsea supporters that Steve and I are committed to supporting a Championship winning team, building a state-of-the-art stadium at Stamford Bridge, investing in our academy and women’s teams and making a real difference in the community. . I am excited about the potential future of Chelsea Football Club,” said the Canadian.

The statement said former Disney CEO Bob Iger, Facebook co-founder Eduardo Saverin and businesswoman Elaine Saverin were among their group.

B Capital’s Raj Ganguly and Peter Guber, who is co-owner of the Golden State Warriors, Los Angeles Dodgers and Los Angeles Football Club, are also involved in the offer, according to the statement.

Pagliuca, who is a co-owner of the Boston Celtics, could face a complication from his involvement with Italian Serie A club Atalanta. The American is co-chairman of Atalanta after acquiring a 55% stake in the club’s controlling company in February.

UEFA rules state that two clubs participating in the same competition cannot be directly or indirectly controlled by the same entity or managed by the same person.

He faces competition from The Ricketts family, owners of the Chicago Cubs, as well as former Liverpool chairman Martin Broughton and the consortium of World Athletics chairman Sebastian Coe.

Todd Boehly, minority owner of Major League Baseball’s Los Angeles Dodgers and founder of Eldridge Industries, is leading another bid.

Laura J. Boyer