Adug Now Interested In Chelsea Bid

The Abu Dhabi United Group which own Manchester City are now reported to be interested in a deal to takeover Chelsea from Russian billionaire Roman Abramovich.

Arab tycoon Dr Sulaiman al-Fahim, part of the Abu Dhabi United Group, has revealed that he and a group of German investors are considering a bid to buy Chelsea.

Dr Sulaiman al-Fahim said: ‘It would not be cheap… but through a number of investors, there is money available to put together a deal.

‘Nobody wants to be over-exposed on one deal… first we need to see if we’re in a position to buy it.’

Abramovich has invested about £600m in Chelsea since taking over in July 2003. Fahim, part of the Abu Dhabi United Group that bought Manchester City, is understood to have drawn up a proposal with Falcon Equity – a Swiss-based private equity partnership.

The chief executive of Abu-Dhabi-based Hydra Properties also chairs Falcon Equity, which is run by Holger Haims, former managing partner of ‘DVC’ – Deutsche Venture Capital.

Heims said: ‘I don’t believe anything is not for sale if you come up with the right price.

‘We have looked at some European clubs to see if the numbers added up, and now we’re doing the same with Chelsea.

‘I can’t go into more details at this stage. It’s not about trying about to buy a football club but about a business.

‘You don’t make money because 11 guys run around the pitch, you make money because of all the other commercial aspects that go with a football club, particularly real estate and television rights.’

Abramovich’s personal wealth has been substantially hit by the economic downturn and his absence from a number of Chelsea home games this season has led to reports that he is looking to find a buyer for the club.

Abramovich has insisted however that he is not looking to sell Chelsea.