Saudi Media Group’s proposal for Chelsea includes intentions to renovate Stamford Bridge and extend the contracts of important players like Antonio Rudiger and Cesar Azpilicueta.
The committee isn’t just concerned with ensuring that the senior men’s team continues to compete for the most prestigious awards.
Saudi Media also plans to continue spending extensively in the London club’s academy, as well as the women’s squad, at Cobham Training Centre.
Who is driving the Saudi bid for the media?
Mohamed Alkhereiji, the CEO of Saudi Media and the parent business Engineer Holding Group, which was founded by his father Abdulelah AlKhereiji, is leading the proposal.
Alkhereiji lived in the United Kingdom for three years, where he attended Cass Business School and worked at Deutsche Bank.
He was present for Chelsea’s 3-1 victory against Arsenal in 2017, the game in which Eden Hazard memorably dribbled half the pitch before scoring.
He was also present the last time Abramovich appeared at Stamford Bridge, in November, for the 1-1 draw with Manchester United.
Alkhereiji and his children are Chelsea supporters, which is why he wants to buy the club.
He primarily supports Al Nassr of Saudi Arabia, for whom he constructed a new, state-of-the-art stadium in Mrsool Park.
Saudi Media is connected with Al Nassr as well as Al Hilal, who Chelsea faced at the Club World Cup last month.
What is the net worth of Saudi media?
Saudi Media is the Middle East’s largest media conglomerate, with holdings in advertising, hospitality, finance, and sports.
The corporation has a revenue of $1 billion (£770 million) every year, indicating that it has the potential to be a major force in English football.
It’s worth mentioning, though, that Saudi Media’s purchase proposal will be supported by a group of Saudi Arabian private investors.
Is it possible that a Saudi Arabian bid would be rejected?
Chelsea has barred “politically sensitive” bidders from bidding for the club, although Saudi Media believes the club does not fall within that category.
Unlike Newcastle United, Manchester City, or Paris Saint-Germain, which are now controlled by the Saudi Arabian state through the Public Investment Fund, Saudi Media is a completely private corporation with no direct ties to any ruler or government.
Many human rights organizations are concerned about Saudi Arabia’s record on women’s rights, yet SMC employs a substantial number of women, and the government has implemented reforms that have resulted in the female proportion of the workforce increasing to 33.2 percent.
As things stand, the Premier League would have little reason to object to a sale of Chelsea to Saudi Media, having previously approved far more contentious takeovers.
What plans does Saudi Media have for Chelsea?
They are prepared to take on the massive task of restoring Stamford Bridge, which might cost up to £1.5 billion ($2 billion).
Their prior experience building football stadiums and infrastructure is being touted as a key advantage of their bid, with their existing marketing and advertising connections also being viewed as a major asset in terms of helping to cover the costs associated with such a large-scale redevelopment project.
Indeed, it is thought that they will be able to bring in the most lucrative sponsors, which is significant because Chelsea has long struggled to match the commercial appeal of Premier League rivals Manchester United, Manchester City, and Liverpool.
Chelsea’s main shirt sponsor, telecoms firm Three, has already canceled their arrangement with the club, but Saudi Media is certain that they can obtain a bigger and better contract for the Blues.
Given that 70% of the Middle East population is under 30, the firm also believes that its ownership and large media outlets would be tremendously advantageous in terms of extending the club’s fans.
According to Saudi Media, Chelsea would have access to a previously unexplored market.
If their application is successful, they plan to open academies throughout the region and use the women’s squad to transform people’s opinions of the sport.
When will Chelsea be able to succeed Abramovich as owner?
The bidding process has begun, with Roman Abramovich enlisting the help of New York investment bank Raine Group to sell the club.
After delays caused by Abramovich’s sanctions, including the freezing of his assets, the deadline for a sale has been extended to March 18.
Chelsea is being pursued by a group led by Hansjorg Wyss and Todd Boehly, as well as English billionaire Nick Candy.
