The reason for Raine Group rejecting the bid from Liberty Media Acquisition to buy the Chelsea Football Club in West London has now been revealed, Sports Illustrated Media Group reports.
The New York-listed SPAC is run by John Malone, who has placed huge bets on sports by engineering the takeovers of Formula One motor racing and the Atlanta Braves Major League Baseball team, is said to have lodged a credible offer for Chelsea.
However, the bid was rejected. Reportedly, it was simply a matter of timing, wiht the complexity of finalising a deal with Libert Media taking far too long. Read more.
