My personal take on the ownership changes, the unanswered questions and why my offer still stands

I finally felt a sense of satisfaction when I heard that Todd Boehly and Mark Walter were stepping away from Chelsea FC. Yet, as so often happens at Stamford Bridge, the story came with twists and turns. The consortium that bought the club following the UK government’s intervention under Boris Johnson had set out internal ownership rules, including restrictions on the sale of the club or any stake in it.

In principle, these rules are meant to prevent tax avoidance and ensure that profits are taxed where the relevant business activity takes place.

However, there was also, as I understand it, a clause preventing the club—or any percentage of it—from being sold to a third party for at least ten years.

My £6.1 Billion Offer

When I heard that my beloved Chelsea might be on the market, I made what I believed was a serious and lucrative offer: £6.1 billion, plus some spare change. What happened next? Todd Boehly and his lieutenant, Mark Walter, did not reply.

Instead, their stakes were sold to co-owners Behdad Eghbali and José E. Feliciano. I sincerely hope they will do better than Boehly did, even if I remain unconvinced that they can match the Roman Abramovich era.

Chelsea therefore remains, in my view, in the hands of owners without deep football experience. I also remain concerned about the role of lobbying by former Chancellor George Osborne in the original takeover. At the time, it was made clear that the new owners were expected to build a new stadium. Yet Chelsea still plays at the ageing, roughly 43,000-seat Stamford Bridge, while supporters continue to face frustration over ticketing.

My own experience has made that frustration deeply personal. Five of my season tickets were taken away and given to others. I received no meaningful response from any Chelsea department, and certainly none from Boehly. Then came an offer for a “special package” costing £54,000 per season.

To me, that felt like a joke.

Where I Stand

So where does that leave me? My £6.1 billion offer still stands. The spare change of £48,624.39 was paid to lawyers, auditors and all other barracudas to get this offer on a table.

I hope Behdad Eghbali and José E. Feliciano will consider the substantial return I am offering and decide to walk away. If that happens, my choice for director of football would be without any shadow of the doubt Marina Granovskaia, whom I have long admired and respected.

Make no mistake, my ambition would be simple: to regenerate Chelsea FC completely and give its fans the experience they deserve.

This has seemed the most likely outcome ever since Clearlake and Boehly agreed two years ago to explore buyout options. It is also the conclusion many people have expected since reports emerged that Boehly and Walter were discussing the sale of their Chelsea shares.

However, I remain concerned about how Chelsea will navigate the significant challenges ahead with UEFA and other football authorities.

The current owners are also involved with another club, where, in my view, several rather questionable transfers have taken place. That includes the appointment of Liam Rosenior, whom I do not believe should ever have become Chelsea manager. I have felt the same about several other decisions, but Todd Boehly did not accept my concerns.

All this shambolic and risky business led me to consider an offer of no more and no less than £6.1 billion.

Make no mistake, Chelsea FC value currently is less then £5bn. So, why did I offer staggering £1.1bn more? As I set out in the takeover preamble, I stipulated that the current owners would remain financially and otherwise accountable for any issues arising from both the Abramovich era and their own period in charge, which began when they bought the club on 30 May 2022. That is why!

I would be happy to take responsibility for delivering a new stadium and, on a personal note, getting my five season-ticket seats back (ha-ha-ha).

I would also address the squad, the manager and coaching team, and the wider staff currently working across Chelsea FC.