Boston Celtics owner commits to ‘lifetime ownership’ of Chelsea if bid is successful

The co-owner of NBA side Boston Celtics, Steve Pagliuca, says he is bidding to buy Chelsea FC based on an intent to remain owner for his “lifetime”.

Chelsea were put up for sale at the start of March by Roman Abramovich as a result of the sanctions which were about to be imposed on him by the government, just days after he had attempted to place the safekeeping of the club with the Chelsea Foundation trustees.

After weeks of deliberation and bidding, four eventual offers were listed as being the preferred options, though one – that of the Ricketts family – has since withdrawn from the process.

That leaves Pagliuca and Larry Tanenbaum as potential co-owners if their bid beats those fronted by Sir Martin Broughton and LA Dodgers part-owner Todd Boehly.

In attempting to win over support and establish exactly what would be required, most parties have been engaging with supporter groups and Pagliuca says he and his potential partner would be fully dedicated to the long-term running of the Stamford Bridge club.

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“Larry and I have known each other for over 20 years and we are committed to this being a lifetime ownership,” he said.

“It is a long-term commitment that both families want to make.

”Incorporating a broad spectrum of fan perspectives will be a fundamental part of our stewardship if successful.

”It was heartening to see the passion from the groups, on individual matters important to them, but also the common issues on which they sought clarity: mainly providing comfort on investment in the first team squads, ongoing investment in the academy, expanding the excellent work in the community, and the future redevelopment of Stamford Bridge.”

Pagliuca also owns a stake in Italian Serie A side Atalanta, while Tanenbaum has involvement with the NHL side Toronto Maple Leafs.

“Fans want championships and cups, and the best experience in their own home stadium. Steve and I are dedicated to, and will deliver, both,” Tanenbaum added.

On Thursday, it emerged that several other parties form part of the rival consortium led by Broughton, with Formula One star Lewis Hamilton and iconic tennis legend Serena Williams both named as those who are set to put £10m apiece into the group.

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