Here is when the new Chelsea owner will be announced; Raine group gives a new timeline

Here is when the new Chelsea owner will be announced; Raine group gives a new timeline

According to The Guardian, Raine group has issued a new timeline for them to notify bidders of their decision over the takeover at Chelsea.

It is worthy to note that over 30 bids were submitted for the takeover for Chelsea to beat the decided deadline and now it is the time to evaluate these bids and come out with the best bid that will win the position in the club.

The New York based investment bank has been overseeing the process since Abramovich blurted out his intentions to sell the club.

Now, a fresh timeline has been given to the bidders to expect a result on a yes or no citing if the bids are successful or not to be on the shortlist of three or four.

At least by Wednesday, the bidders will have to be reduced to either three groups according to the report.

The hopes that a result will be out this Monday has been thrown away as a new date has emerged and we all are waiting patiently for this bid to be finalized.