Chelsea news: John Terry backs fan consortium looking to buy 10 percent stake in club

Following Roman Abramovich's sanctions earlier this month, it only seems a matter of time until Chelsea are taken over by new owners.

The deadline to bid for the club passed on Friday night, with a host of serious parties lodging their candidacy.

LA Dodgers part-owner Todd Boehly, Sir Martin Broughton and Lord Sebastian Coe, Chicago Cubs owners the Ricketts family and British property tycoon Nick Candy all submitted bids in time.

Saudi Media Group also met the deadline, with more bids elsewhere understood to have been submitted.

However, while the process of selling the club carries on behind the scenes, a fan-led consortium named the True Blues Consortium have been founded, with the aim to help supporters have a bigger say in the club's day-to-day running.

The suppoerter group plans to levy funds to buy a 10% stake in Chelsea through a community offering.

Chelsea fans would be able to buy into the set-up from as little as £100, with the True Blues Consortium aiming to work with the club's eventual new owners on buying their share.

A number of former players and celebrities have backed the idea, with the latest being former club captain John Terry, who has publicly spoken of his support, as well as put his name forward as a contributor.

The 41-year-old stated that such a consortium would help protect Chelsea's "history and heritage" by ensuring the supporters are closely involved with the club's decisions.

Terry added, "Chelsea has been such an important part of my life for 22 years.

"I want to see the club's history and heritage protected as we go into a new era with like-minded people who have the same long-term vision of building the best football club in the world and understand how important our DNA is.

"Having met with and heard what the True Blues Consortium is about, I know they understand. They're a group of lifelong Chelsea fans and season ticket holders who have created a concept that will complement and assist any preferred bidder running the club while adding fan connection and engagement with the board.

"This innovative structure is designed to be inclusive of all Chelsea fans and protect our club.

"I'm thankful for the Chelsea Pitch Owners and Chelsea Supporters' Trust's time and support on this and we hope we will be welcome investors into the club's new structure."

The Chelsea Supporters Trust have also publicly backed the consortium.

A spokesperson from the organisation stated, "The CST has been clear that the best outcome for Chelsea supporters is for new owners to protect Chelsea's heritage by giving fans a golden share.

"Subject to further detail, the CST supports in principle the fundamental aim of the True Blues consortium, which is to give fans a greater say in how the club is run. We welcome further dialogue with True Blues as things develop over the next days and weeks."

The process of selecting a new owner is expected to ramp up next week.