New Chelsea boss wants club private

Chelsea’s 12,000 shareholders will receive a written offer for their shares next week as new owner Roman Abramovich bids to take the club private.

Russian oil billionaire Abramovich is now in control of the Blues after acquiring 50.09% of the club’s shares.

However, Abramovich’s aim is to own all 100% and then take the club private, and he will begin phase two of his plan next week.

A spokesman for Citigate Dewe Rogerson, his public relations advisers said: “A formal offer document will be posted to all 12,000 shareholders next week and they will be offered 35 pence per share, which is the same amount Mr Abramovich paid for the shares he bought this week.”

Although there are 12,000 shareholders in Chelsea Village, the football club’s holding company, more than 90 per cent of the remaining shares are owned by about 50 people.

The next step for Abramovich is to secure a 75% holding, which will allow him to de-list the club from the alternative stock market, AIM.

If he can then secure 90% of the shares, City rules will allow him to mop up the remaining 10%, giving him total control and enabling him to achieve his goal of taking Chelsea private.

The whole process is likely to take several weeks, although there is no time limit for the complete takeover to happen, and in the meantime the football side of the club will remain unaffected on a day-to-day basis.