The owner of Milan joins the bid to buy Chelsea and the exit of the Saudi Media Group alliance

The Elliott Group, which owns Milan, has joined the "Nick Candy-Lead Blue" consortium in an offer to buy the English Premier League club Chelsea, as sources close to the agreement told Reuters, at a time when the Saudi media group alliance exited the race to buy the club.

Roman Abramovich (Chelsea owner) initially offered the club for sale after the Russian war on Ukraine before being sanctioned by the British government, effectively giving it control of the club.

Sources told Reuters that US hedge fund Elliott contributed an estimated "several million pounds" in the offer as a small percentage investor.

Elliott took ownership of AC Milan in 2018, and since then has helped the club become more competitive in Serie A.

He is currently leading the rankings as he seeks to win the title for the first time in 11 years.

Reuters was not immediately available for comment from Elliott's representatives.

The exit of the Saudi media group

On the other hand, the Saudi Media Group alliance exited the race to buy Chelsea FC.

And the British news agency "PA Media" reported that those responsible for the Saudi bid knew that their show had not been shortlisted.

The New York-based Rain Group has begun the process of informing potential buyers of Chelsea Football Club of the status of their bids.

It is known that the Saudi show is the first show to leave the race to reach the shortlist.

The British government and the English Premier League will oversee the sale of Chelsea, in light of the sanctions imposed on its Russian owner Roman Abramovich.