Hamilton defeated in Chelsea bid
Hamilton defeated in Chelsea bid
Lewis Hamilton and Serena Williams have failed in a bid to purchase Chelsea after the football club agreed terms on a £4.25billion deal with a consortium led by LA Dodgers baseball team co-owner Todd Boehly.
Hamilton and tennis superstar Williams were each believed to have pledged £10million towards the purchase of Chelsea in a bid that was led by former British Airways chairman Sir Martin Broughton.
Former Olympian Sebastian Coe was also involved in the consortium of backers, making the bid the highest-profile out of the potential suitors.
The club had been put up for sale after owner Roman Abramovich was sanctioned for his alleged links to Russian president Vladimir Putin following the invasion of Ukraine.
Proceedings appeared to stall earlier this week after it was reported Abramovich was no longer willing to write off the £1.6bn of debt that is owed to him by the club, although the Russian has since denied these reports.
In a statement on Saturday, Chelsea confirmed: "Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich.
"UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.
"In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.
"The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time."
Hamilton Mercedes competition
A last-minute bid for Chelsea had also been submitted by Mercedes F1 co-owner Sir Jim Ratcliffe, the majority shareholder in chemical group INEOS.
Although this bid was quickly dismissed, Ratcliffe maintained at the time that he had 'not given up' on acquiring the club.
Related
Change your timezone:
Latest News
Former F1 chief hits out at Hamilton 'EXCUSES'
- 19 minutes ago
Red Bull already sending parts to F1 race MONTHS away
- 1 hour ago
Stats show SURPRISE F1 team dominate in crucial category
- 2 hours ago
Schumacher reveals what F1 pundits are NOT allowed to say about Red Bull
- 3 hours ago
Hamilton struggles pinned on Mercedes by team's OWN driver
- Today 09:57
Verstappen issues MAYHEM warning to F1 bosses
- Today 09:12
Related news
Miami GP organiser opens up on MAJOR plans to reinvent race
Tennis legend Federer addresses INFAMOUS Jackie Stewart moment at Miami GP
F1 in the US dealt HUGE blow by one Miami GP stat
Miami Grand Prix wasn't boring but F1 is... and there is a KEY reason why
F1 Standings
Drivers
- Oliver Bearman
- Charles Leclerc
- Carlos Sainz
- Lando Norris
- Oscar Piastri
- Pierre Gasly
- Esteban Ocon
- Sergio Pérez
- Max Verstappen
- Alexander Albon
- Logan Sargeant
- Lewis Hamilton
- George Russell
- Nico Hülkenberg
- Kevin Magnussen
- Fernando Alonso
- Lance Stroll
- Valtteri Bottas
- Zhou Guanyu
- Daniel Ricciardo
- Yuki Tsunoda
Races
- Gulf Air Grand Prix of Bahrain 2024
- Saudi Arabian Grand Prix 2024
- Grand Prix of Australia 2024
- MSC Cruises Grand Prix of Japan 2024
- Grand Prix of China 2024
- Miami Grand Prix 2024
- Gran Premio dell'Emilia Romagna 2024
- Grand Prix of Monaco 2024
- Grand Prix du Canada 2024
- Gran Premio de España 2024
- Grand Prix of Austria 2024
- Grand Prix of Great Britain 2024
- Grand Prix of Hungary 2024
- Grand Prix of Belgium 2024
- Heineken Dutch Grand Prix 2024
- Grand Prix of Italy 2024
- Grand Prix of Azerbaijan 2024
- Grand Prix of Singapore 2024
- Grand Prix of the United States 2024
- Gran Premio de la Ciudad de Mexico 2024
- Grande Prêmio de São Paulo 2024
- Heineken Silver Las Vegas Grand Prix 2024
- Qatar Grand Prix 2024
- Grand Prix of Abu Dhabi 2024
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
Follow us on your favorite social media channel
Corporate & Media
Innovatieweg 20C7007 CD, Doetinchem, Netherlands
+31645516860