George Osborne weighs in on Boehly’s £2.5bn bid for Chelsea

Former Chancellor George Osborne is aiding Todd Boehly’s bid to buy Chelsea FC as the sales process heats up.

It is understood he will be helping the part-owner of the Los Angeles Dodgers baseball team for the £2.5bn buy-up of the London club.

Osborne works for the boutique investment firm Robey Warshaw, which is advising the consortium that made its formal bid for the club on Thursday.

Sir Martin Broughton, the ex-Liverpool chairman, Steve Pagliuca, the Boston Celtics basketball co-owner, and Larry Tanenbaum, are all competing to land the Stamford Bridge club.

The Ricketts Family Investment Group announced it will not submit a final bid for Chelsea on Friday.

The Ricketts family had teamed up with Citadel chief executive Ken Griffin and Cleveland Cavaliers owner Dan Gilbert to present an offer to take over the club.

This follows Chelsea owner Roman Abramovich putting the club up for sale last month, and being subsequently sanctioned by the British government.

The Ricketts-led bid had reached the final shortlist alongside three other bidders, with the expectation of a final decision later this month.

While the bid passed the initial approval process, it had faced significant backlash online from sections of the Chelsea fan base, culminating in a demonstration at Stamford Bridge.

Fans and supporters groups have criticised racist comments made by Joe Ricketts, and the family’s links to the Republican Party during Donald Trump’s presidency.

The group failed to persuade the Chelsea Supporters Trust – and later made an eight-point plan including pledges not to enter the Super League, to promote diversity and inclusion, and to create a fan-led advisory committee.