The Saudi Media Group have made an offer of £2.7 billion to buy Chelsea Football Club from Roman Abramovich, according to reports.

The Blues owner Abramovich was recently sanctioned and his assets have been frozen, therefore affecting the club. Despite this, the sale of Chelsea is now back on track as the government gave the green light for the process to continue.

And now, as reported by Ben Jacobs, Saudi Media Group have made a £2.7 billion bid to buy the club.

Mohamed Alkhereiji is a Chelsea fan leading a private consortium to take over the Blues from Abramovich and has no direct links to the government, Jacobs states.

He continues to report that there is support in finding funding and partners, but no financial backing as of yet.

It had previously been revealed that Saudi Media wished to renew the contracts of Antonio Rudiger and Cesar Azpilicueta.

They also have plans for the redevelopment of Stamford Bridge and are keen on investing in both the academy and women's sides at Chelsea.

The report also says that Saudi Media make a turnover of around £770 million a year.

The company are a fund involved heavily in funding media, advertising and sports brands across the world, according to Goal, and are now interested in acquiring Chelsea, with offices in Dubai, UAE and Saudi Arabia.

As it stands, the UK Government have recognised two different parties as 'serious contenders' to buy the club.

A consortium led by Todd Boehly and Hansorj Wyss is one group keen on buying Chelsea as well as British businessman Nick Candy, who is a Chelsea fan and was in attendance for their 1-0 win against Newcastle United on Sunday.

However, the Saudi Media Group have now made a bid for the Club and could be seen as the frontrunners to take over, as Raine Group consider all offers for the football club.