NBA Chairmain Joins Chelsea Bid
National Basketball Association (NBA) Chairman, Larry Tanenbaum, is among the investors backing Steve Pagliuca’s offer for Chelsea, reports Sky News.
Tanenbaum, who owns several North American sports teams, is among several wealthy individuals who have agreed to back Mr Pagliuca, the private equity billionaire who made a fortune from his career at Bain Capital. John Burbank, founder of the San Francisco hedge fund Passport Capital, and Eduardo Saverin, the Facebook co-founder, are also reportedly backing the group.
It is thought that Mr Tanenbaum’s work on combating anti-semitism is likely to be well-received by Roman Ambramovich, the Chelsea owner who has been hit by UK government sanctions following Russia’s invasion of Ukraine.
Steve Pagliuca’s bid has attracted a lot of attention in recent days, with reports that Bob Iger, the former Walt Disney chairman, had also been approached about joining the bid.
The Bain Capital chairman is reported to have attended Chelsea’s 6-0 win at Southampton on Saturday, having travelled to the UK for talks with club executives and advisers about his offer.
Pagliuca co-owns the Boston Celtics NBA team, as well as a large stake in the Italian Serie side Atalanta, which he could be obliged to offload if he is successful with his Chelsea bid.
Also competing to secure the West London club are a group led by Sir Martin Broughton, the former Liverpool and British Airways chairman, which includes the billionaire Crystal Palace shareholders Dave Blitzer and Josh Harris; a bid spearheaded by Todd Boehly, the LA Dodgers part-owner, which includes backing from Clearlake Capital, a US investment firm; and the Chicago Cubs-owning Ricketts family, who have teamed up with Cleveland Cavaliers-owner Dan Gilbert and the hedge fund tycoon Ken Griffin.
All potential buyers must table final bids by the extended deadline of Thursday 14th April.
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