Abu Dhabi United Group to purchase Chelsea

Roman Abramovich's resolve to keep hold of Chelsea could be tested by a consortium of German investors whose proposal is being fronted by the Arab tycoon who masterminded the takeover of Manchester City.

Peter Kenyon, the Chelsea chief executive, has been eager to emphasise Abramovich’s long-term commitment to the club, but that has not stopped Dr Sulaiman al-Fahim, who led the Abu Dhabi United Group’s purchase of City in September, drawing up a takeover proposal with Falcon Equity, a Swiss-based private-equity partnership. It is understood that it has a number of German investors ready to fund any buyout.

"It's not entirely clear if Chelsea is for sale, but regardless of that, we first need to see if we are in a position to buy it," Al Fahim said.

"Given that Roman Abramovich has invested over £500m into the club, it would not be cheap, and with the current credit crunch, nobody wants to be over-exposed on one deal. But through a number of investors, there is money available to put together a deal."
Holger Heims, the managing partner of Falcon Equity, told Arabianbusiness.com that the group believed everything, including Chelsea Football Club, had its price.

"We have looked before at some European clubs to see if the numbers added up, and now we are doing the same with Chelsea," he said. "I don't believe anything is ever not for sale if you come up with the right price.

"It's not about trying to buy a football team but about a business. You don't make money because 11 guys run around the pitch, you make money because of all the other commercial aspects that go with a football club, particularly real estate and television rights."

Abramovich reaffirmed his commitment to the club over the weekend by claiming that despite suffering heavy losses in the global financial crisis, he did not need to sell the club.

"Chelsea is not for sale. The owner has not and is not looking to sell his interest in the club and he remains as committed as ever," a statement read.

Abramovich bought Chelsea in a deal worth £140m in 2003.