Who is Muhsin Bayrak? Net worth of potential Chelsea buyer
Turkish billionaire Muhsin Bayrak has claimed he has made an offer to buy Chelsea from Roman Abramovich - even going as far to suggest a deal is nearing completion.
Bayrak is the chairman of AB Grup Holding and has invested in construction, energy, tourism and cryptocurrency, and in a statement released through Turkish media, he said: "We are in the negotiation phase with signatures, we will fly the Turkish flag in London soon.
"The negotiation process has come to an end and we are planning to sign soon. This sale is also very important for Turkey."
Who is Muhsin Bayrak?
Bayrak is a Turkish billionaire and made his fortune with AB Grup Holding. He has previously invested in construction, energy, tourism and cryptocurrency.
AB Grup has been around since 1999 and the company has over 10,000 employees. The company is trying to branch out and become more international. Their recent move into crypto exchange was called ABStocks, launched with an investment of $4m.
Bayrak has previously been described as a close friend of Abramovich.
Muhsin Bayrak net worth
Bayrak's net worth has not yet been verified. Some reports have put it as high as $11bn, though they have not yet been confirmed.
Where is Muhsin Bayrak from?
Bayrak is from Turkey. He immigrated to Istanbul during the 1990s and completed his education there.
Bayrak's family has been described as 'one of the most important' in Turkish business.
How much has Muhsin Bayrak bid for Chelsea?
As of yet, the amount Bayrak has bid for Chelsea is unknown. Abramovich is known to want around £4bn for the club, though his weak bargaining position could see him sell for half of that.
Who else wants to buy Chelsea?
A number of business moguls have thrown their hats into the ring.
Todd Boehly and Hansjorg Wyss could look to make an offer as part of a consortium, while Sir Jim Ratcliffe - often described as Britain's richest man - is also known to be interested, as exclusively revealed by 90min.
One more unlikely buyer is UFC fighter Conor McGregor. The Irishman has previously expressed an interest in buying Manchester United but, regarding Chelsea, recently put a post out on Twitter accompanied with the brief caption: "I wish to explore this."
However, with a net worth of around £135m, he probably would not be able to finance a takeover of any elite football club.
Why is Roman Abramovich selling Chelsea?
Abramovich revealed earlier in March that he would sell the club.
That news came after Russia's invasion of Ukraine, with the United Kingdom threatening sanctions on any Russian oligarchs associated with their government or president Vladimir Putin.
Abramovich has claimed all net proceeds from the sale will be donated to victims of war in Ukraine. He is owed £1.5bn by Chelsea, having bought the club for £140m in 2003, but says he will not ask for any loans to be repaid.