Chelsea: Centricus bid to buy club intends to 'maintain existing management'

Global investment firm Centricus is funding another British bid to buy a soccer team.

The club was put up for sale by Roman Abramovich before he was hit with sanctions.

The latest bid is backed by Centricus, which has $29 billion in assets.

Four other groups have said they are interested in buying the Blues.

There is a group headed by British property investor Nick Candy.

A group consisting of Swiss billionaire Hansjorg Wyss and Los Angeles Dodgers part-owner Todd Boehly have also bid.

There are reports that Raine Group is handling the sale and that Saudi Media Group has made a bid.

The sale is expected to take place before the end of the month, with those bidding going to a short list this week.

The bid includes hedge fund manager Jonathan Lourie of Cheyne Capital, as well as Centricus co-founder Nizar Al-Bassam and chief executive Garth Ritchie.

The group said it would be committed to supporting the group and its key stakeholders.

The financing for the deal includes funding for the completion of the transaction and funding for working capital required for the day-to-day operations of the CFC Group.

The goal is to maintain and support existing management on both the business and sporting operations of the CFC Group. We intend to follow the strategy direction.

The CFC Group has been operating in challenging conditions and we appreciate the importance for the fans and other key stakeholders of ensuring a smooth and stable ownership transition.

During this transition period and thereafter, we will ensure that we have frequent and open dialogue with all key stakeholders which underpins our long-term commitment to the CFC Group and its continued future success.

If our offer is successful, Centricus would focus on ensuring that the CFC Group continues to achieve sporting excellence, high level of community support, transparent governance, financial viability, fan engagement and exemplary custodianship.

John Terry has lent his support to a group that wants to buy 10% of the club to make sure whoever buys it is held accountable by fans.

The True Blues group is being advised by Oakvale Capital and has support from a number of people.

Terry said that his daughter has been an important part of his life for 22 years. I want to make sure that the club's history and heritage is protected as we go into a new era with like-minded people who have the same long-term vision of building the best football club in the world.