Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Turkish billionaire Muhsin Bayrak confirms Chelsea takeover bid

Turkish billionaire Muhsin Bayrak confirms Chelsea takeover bid

Turkish businessman Muhsin Bayrak says he has launched an offer to take over the ownership of Chelsea.

Roman Abramovich has put Chelsea up for sale

Roman Abramovich unveiled his plans to sell Chelsea on Wednesday night, just days after it was revealed that the club’s ‘stewardship and care’ had been given up to its foundation trustees amid the threat of anti-Russian sanctions.

It comes after Russian military forces launched a full-scale invasion of neighbouring Ukraine under the orders of president Vladimir Putin, who Abramovich has allegedly held close ties with in the past.

Abramovich – who has overseen 15 managers and 21 trophies across his 19-year-old reign – values the Blues at between £3-4bn and has vowed to donate all net proceeds from the impending sale to victims of the conflict in Ukraine.

Swiss philanthropist Hansjorg Wyss and LA Dodgers co-owner Todd Boehly have since made their interest known and are said to be preparing a joint offer for the west London giants.

Meanwhile, Bayrak, the billionaire owner of construction company AB Grup Holding, has confirmed he is ‘confident’ of completing a takeover after lodging a bid to succeed Abramovich at Stamford Bridge.

‘Yes, we definitely confirm. We have forwarded our offer regarding this to them,’ a spokesperson of the Turk told The Guardian.

Bayrak had earlier told Turkish media: ‘We are discussing the terms of Chelsea’s purchase with Roman Abramovich’s lawyers.

‘We’re negotiating signatures. We will soon fly the Turkish flag in London.’

Muhsin Bayrak has launched a bid for Chelsea


According to The Guardian, as many as ten interested parties have emerged as potential buyers following Abramovich’s stunning announcement in midweek.

However, one of those that had been credited with a strong interest, Loutfy Mansour, distanced themselves from the speculation on Friday, denying rumours of a possible takeover bid.

‘In light of the recent media speculation, we want to make it clear that we are not pursuing a bid for Chelsea Football Club at this time,’ the billionaire Egyptian businessman said.



Former Chelsea captain John Terry led the tributes for Abramovich after the Russian-Israeli oligarch confirmed that his near 20-year tenure in west London was coming to an end.

But there has been a fierce backlash to those mourning Abramovich’s looming departure, with Pat Nevin urging supporters and ex-players to ‘put away the violins’.

The former Chelsea and Scotland winger told BBC Radio 5 live: ‘The first couple of statements Chelsea released were limp and that is being kind. This one is stronger and close to doing the right thing.

‘Chelsea fans will be concerned about the club going forward. The club will survive and let’s get this into perspective. It is a football club, it is only a game and there are bigger fish to fry right now.

‘Chelsea might be lucky and get a wealthy owner. Have a look at what has happened to Barcelona and Real Madrid, teams go through ups and down, Real fans understand that.

‘Put away the violins because the tears need to be about somewhere else in the world.’

Nevin added: ‘It would be good if the club was sold for a profit so it could help the Ukrainian people.

‘The club has been running on getting things back on an even keel for a few years because Roman Abramovich knew all along he wasn’t going to last forever.’

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
European manufacturers against ban on polluting cars: "The industry may collapse"
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
The Country That Got Too Rich? Public Spending Dominates Norway Election
EU Proposes Phasing Out Russian Oil and Gas by End of 2027 to End Energy Dependence
More Than 150,000 Followers for a Fictional Character: The New Influencers Are AI Creations
EU Prepares for War
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
×