Saudi consortium makes £2.7bn bid for Chelsea

Chelsea Football Club has been offered £2.7 billion ($3.5 billion) by a Saudi group led by media executive Mohamed al-Khereiji.

The Saudi Media Group was reportedly looking to buy the English football club on Monday, according to British media. The club’s present owner, Russian billionaire Roman Abramovich, has been sanctioned by the UK government in the aftermath of the Ukraine conflict.

Al-Khereiji is the chief executive of outdoor advertising company Al-Arabia, the chairman of Saudi Media Company, and the chairman of MBC Media Solutions, the commercial advertising and sales branch of MBC Group, a Saudi government-owned media conglomerate, according to his LinkedIn page.

Al-Khereiji, a Chelsea supporter, attended London’s Cass Business School (now Bayes Business School) and worked as an analyst at Deutsche Bank.