Kings' Vivek Ranadive Reportedly Putting 'Final Touches' on Bid to Buy Chelsea

Sacramento Kings chairman Vivek Ranadive is putting his hat in the ring to purchase Chelsea Football Club.

Per Scott Soshnick and Brendan Coffey of Sportico, Ranadive is "putting the final touches on a bid" to buy the club after owner Roman Abramovich put it up for sale earlier in March.

Abramovich recently issued a statement announcing his intention to sell the club he has owned since 2003: 

"The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and club. Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery."

The announcement came amid sanctions imposed by the United States, United Kingdom and European Union on Russian oligarchs with ties to the Kremlin, stemming from the Russia's ongoing invasion of Ukraine.

Per Chris Jewers and James Gant of the Daily Mail, Abramovich has been linked to Russian president Vladimir Putin and is said to have recommended him to Boris Yeltsin as the former president's successor.

ESPN's James Olley noted Abramovich "has always strenuously denied" having any connection to Putin's government.

According to Olley, "as many as 20 different parties" have shown an interest in buying Chelsea.

In April 2021, Forbes estimated Chelsea to be worth $3.2 billion. 

Ranadive purchased a controlling interest in the Kings for a then-record $534 million in 2013. He bought out the remaining shares last year.