Chelsea takeover: Steve Pagliuca and Larry Tanenbaum pledge lifetime ownership if bid is successful

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Chelsea takeover: Steve Pagliuca and Larry Tanenbaum pledge lifetime ownership if bid is successful
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Steve Pagliuca and Larry Tanenbaum have promised lifetime ownership of Chelsea should their bid to buy the Premier League club be successful.

Three rival bidders have submitted their final offers to Raine Group, who are in charge of the sale, including LA Dodgers co-owner Todd Boehly and former Liverpool chairman Sir Martin Broughton.

The third interested party is Pagliuca, co-owner of the NBA’s Boston Celtics and Serie A side Atalanta. He has partnered with chairman of Maple Leafs Sports and Entertainment (MLSE) Larry Tanenbaum, while the bid also includes the likes of former Disney CEO Bob Iger and Facebook co-founder Eduardo Saverin and has the backing of the John Terry-led True Blues Consortium.

Speaking to Sky News, Pagliuca revealed that he and Tanenbaum see their commitment to Chelsea as a long-term one as they pledged to continue the success the club has enjoyed over the last two decades.

“Larry and I have known each other for over 20 years and we are committed to this being a lifetime ownership. It is a long-term commitment that both families want to make,” Pagliuca said.

Tanenbaum added: “I view the opportunity to acquire this iconic football club as an incredible one to invest in one of the premier teams in the world’s most prestigious soccer league. My goal, and that of Steve, would be to own Chelsea for decades to come.

“Fans want championships and cups, and the best experience in their own home stadium. Steve and I are dedicated to, and will deliver, both.”

Pagliuca has confirmed that under his ownership Chelsea will never be a part of a European Super League, while also revealing his plans to redevlop Stamford Bridge into a “world-class stadium”.

He has recently held discussions with a number of the club’s supporters groups.

“Incorporating a broad spectrum of fan perspectives will be a fundamental part of our stewardship if successful,” Pagliuca. said.

“It was heartening to see the passion from the groups, on individual matters important to them, but also the common issues on which they sought clarity: mainly providing comfort on investment in the first team squads, ongoing investment in the academy, expanding the excellent work in the community, and the future redevelopment of Stamford Bridge.

“These are all stated key pillars of our bid and vision for Chelsea FC.”

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