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Abramovich not thinking of Chelsea sale

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  • Abramovich not thinking of Chelsea sale

    Roman Abramovich remains as committed to Chelsea as ever despite reports that he is exploring the possibility of selling the club for more than £2 billion.

    A report in the Sunday Times claimed Abramovich has enlisted Joe Ravitch from New York-based investment bank the Raine Group to advise on a strategic review after rejecting takeover bids from British chemicals tycoon Sir Jim Ratcliffe and Silver Lake Partners, a U.S. private equity firm, earlier this year.

    Raine advised Manchester City’s owners on the sale of a minority stake to Chinese investors, and the Sunday Times reported that Abramovich rebuffed Ratcliffe and Silver Lake because he is holding out for a higher offer.