Binance CEO Declines to Purchase Chelsea FC – Report


Changpeng Zhao, the founder, and CEO of Binance talked about buying Chelsea but later on declined to pursue the deal, pointing out that owning a soccer club is not among his goals, a representative for Binance told Reuters.

Russian billionaire Roman Abramovich’s Premier League Soccer Club Chelsea was put on sale last week due to the ongoing Russian-Ukrainian war. It was also confirmed by the blues owner that he would give room to interested individuals who intend to buy believing that it is for the benefit of the club, enthusiasts, supporters, employees, and partners.

Abramovich aims to get the right person who will take over the ownership of the club. He believes the club needs someone who knows the value of football and will not neglect the development of Stamford Bridge.

He has given the task of selling the club to the American Merchant Bank, Raine noting that the final selection will be from the 15th of March. The CEO of Raine said Chelsea doesn’t intend to rush things as they need the best for their club.

Although the cryptocurrency exchange platform Binance has a cordial relationship with the footballing world as it financed the just concluded African Cup of Nation AFCON and currently funds the Italian Serie A side, Lazio, and the Argentinian National Team, the report has it that the CEO is not interested in owning a club at this time.

A lot of people have indicated an interest in acquiring the club. Some of which include U.S Billionaire Todd Boehly, who has a stake in LA Dodgers baseball and LA Lakers basketball league in partnership with Swiss Billionaire Hansjorg Wyss.

A source also recorded that Saudi Media, a private consortium known for working across advertising and sporting brands, and the UFC Star Conor MacGregor has also declared their interest in acquiring Chelsea.

The English Premiership club was reportedly valued at 140 million pounds when Abramovich became the owner 9 years ago, he has since nurtured it to become the European giant it is today. He also expects over 3 Billion pounds from the sale, according to sources with knowledge of the matter.

The proceeds from the sale are notably on course to be donated to assist the victims affected by the war in Ukraine.

Joyce Onose
A Blockchain enthusiast and growing writer in the space with an understanding of the importance in creating quality content for readers in the industry. Also, keen on using her skills in improving Blockchain journalism.

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