Soccer: Chelsea shares on the up

Shares in Chelsea Village have risen by 14% this morning after it was reported that the Premiership club could be the subject of a takeover bid.

It was claimed the Chelsea vice-president Peter Harrison was preparing a hostile takeover of the club after making stg£270m from the sale of his internet company.

Harrison said he had been exploring putting together a consortium to make a ‘‘sensible’’ bid, although Chelsea chairman Ken Bates dismissed Harrison’s plan as ‘‘rubbish’’.

But the price of shares in Chelsea Village had risen by 5p to 41.5p by 8.45am.