Chelsea price is a steal – English clubs will be worth $10bn soon, says banker selling club
The banker running the sale of Chelsea FC says the club would be a bargain even if it fetches £2.5bn, a record price for a sports team.
Joe Ravitch, co-founder of US bank the Raine Group, said he expected Premier League clubs to be worth several times more very soon.
“My guess is that Chelsea and all of the top Premier League clubs will probably be worth in excess of $10bn (£8bn) in five years,” he told the FT.
“So I think whoever buys Chelsea today at the prices we’re talking about is getting it for a steal.”
It is not clear how Ravitch arrived at this figure, which has been seen in some circles as an attempt to drive up the price further.
In a 2021 Forbes list of estimated values of sports teams, the NFL’s Dallas Cowboys were ranked the highest, at $5.7bn (£4.5bn).
Manchester United, the only publicly traded big Premier League, currently has a market cap of $2.2bn (£1.75bn).
Industry insiders expect whoever buys Chelsea to pay in the region of £2.5bn to £2.75bn.
The club’s Russian owner Roman Abramovich is not allowed to receive any of the proceeds because he has been sanctioned by the UK government for his links to the Kremlin.
Three bidders remain in contention and this week made final presentations at Stamford Bridge, Chelsea’s west London stadium.
They are consortia fronted by LA Dodgers co-owner Todd Boehly, former British Airways chairman Sir Martin Broughton and Bain Capital co-chair Steve Pagliuca.
All would see Chelsea fall into majority American ownership, following Premier League rivals United, Liverpool and Arsenal.
Ravitch and the Raine Group, in consultation with Abramovich, are expected to nominate a preferred bidder in the coming days with a view to a deal being completed in May.