Report: 74-year-old has made bid to buy Chelsea, but rival PL clubs could be angry and complain about it
Sir Martin Broughton’s plans to acquire Chelsea might hit a snag if he is backed by Crystal Palace’s shareholders.
According to The Telegraph, Broughton could face a backlash from rivals bidders other and Premier League clubs if he uses the finances of Joshua Harris and David Blitzer.
Why would a Broughton-Blitzer-Harris bid not work?
Harris and Blitzer are shareholders at Selhurst Park, meaning any possible involvement they have in buying the Blues would be controversial, to say the least.
If it is uncovered the Palace powers helped efforts towards securing Stamford Bridge, the Telegraph claim Broughton’s offers may be delayed due to complaints from opposing parties.
Due to Harris and Blitzer’s current connection with another English team, the pair would have to swiftly divest their stocks in order to invest in Chelsea.
This means going through the Premier League owners’ and directors’ test first before being allowed to bankroll Broughton.
The Telegraph claim that some groups also involved in the bidding war for Roman Abramovich’s empire believe Raine should not even consider this potential proposal.
They feel that permitting shareholders in one organisation to dump their shares to chase after a ‘more attractive proposition’ could set a hazardous example.
Chelsea already way behind schedule
If the Premier League or the government receive protests against Broughton’s ambitions, it could halt the process even further.
Which is something Chelsea literally cannot afford right now, as they continue to soldier on without Abramovich’s treasure chest to bail them out of trouble.
Hopefully, for the sake of the company, a new owner will be announced soon.
Final bids needed to be submitted by last Friday, with a strong selection of candidates stepping forward.