John Terry leads consortium to buy 10% of Chelsea

The sanctions imposed on Roman Abramovich by the UK government have ushered in a new era for Chelsea.

Several entrepreneurs have expressed interest in buying the Blues, but another consortium is interested in acquiring an interest in the majority of the Blues under the “True Blues” name.

One of the leaders of this effort is Chelsea legend and current Blues Academy member John Terry. This consortium consists of former players of the team, fans of the team but also British business people. This consortium wants to buy 10% of the Blues and thus ensure the existence of a communication channel between the Friends of the Blues and the new administration.

The consortium has already contacted Raine Group, the bank managing the sale of the Blues. At the same time True Blues, in partnership with Oakvale Capital, a leading financial advisory group and sports industry investment bank, has committed funding of up to $250,250 million, subject to the terms of the agreement.

If True Blues cannot raise all the money needed to purchase the 10% stake, it will proceed with backstop institutions to fill the gap, allowing backers to participate in the sale in some way.

In terms of structure, True Blues is governed by a board made up of the Chelsea Supporters’ Trust (one of Chelsea’s largest friend groups), the pitch owners, ex-Chelsea players, fans and an independent chairman. They will then have an elected representative representing True Blues on the team’s board of directors.

Details of what John Terry said: “Chelsea has been such an important part of my life for 22 years. I want the club’s history and legacy to be protected as we enter a new era with like-minded people who share the same long-term vision of building the best football club in the world and understand how important our DNA is.

Having met and heard about the True Blues consortium, I know they get it. It’s a group of lifelong Chelsea fans and season ticket holders who came up with an idea that complements each preferred bidder and helps them run the club, while adding friends’ links to the team’s board.

This innovative structure aims to include all Chelsea fans and protect our club. I am grateful for the time and support of the Chelsea Pitch Owners and Chelsea Supporters Trust in this and hopefully we will be welcome investors in the new team structure“.