Chelsea takeover battle: Broughton and Coe gain favour within government

Sir Martin Broughton and Lord Coe’s takeover bid for Chelsea has received a warm welcome from within the government, it has been reported.

Broughton and Coe are heading a consortium endeavouring to buy Chelsea after sanction-hit owner Roman Abramovich was forced to slash ties with the club.

Treasury officials are to review the preferred bidder after US bank Raine Group assesses all offers.

Inside sources have told The Times newspaper that the duo are seen as potential frontrunners within government. The pair’s backgrounds as ardent Chelsea fans and charging previous Premier League club takeovers have helped boost confidence in their bid, it was reported.

Lord Coe has a CV that includes gigs such as chief of World Athletics and boss of London 2012 while Sir Martin Broughton is the former chairman of British Airways and Liverpool FC.

Raine’s bid deadline passed last night (Friday), with the New York bank reportedly keen to organise a speedy takeover by the beginning of April. 

Other figures to suggest they would throw their names into the ring include Chicago Cubs owners the Ricketts family and baseball franchise investor Todd Boehly, who has joined forces with Swiss billionaire Hansjorg Wyss and UK property developer Jonathan Goldstein.