Reports: NBA chairman and Toronto Raptors Governor Larry Tanenbaum backing Boston Celtics co-owner Steve Pagliuca's bid to buy Chelsea

Joining the exclusive list of possible owners of the English Premier League soccer team is a NBA franchise's co-owner. Steve Pagliuca, the Boston Celtics co-owner, is the latest addition to the list of 4 parties looking to procure the controlling power of the soccer franchise, Chelsea Football Club.

Due to the escalation of the Ukraine-Russia crisis by President Vladimir Putin, the sanctioned majority shareholder of the franchise, Roman Ambramovic, has been forced to sell the club or lose it all regardless. The franchise is allegedly said to be on the market for $4 billion.

Pagliuca's decision to own a soccer team is being backed by Larry Tanenbaum, who doubles as the current league chairman and the Toronto Raptors Governor. Tanenbaum expressed his reasons for partnering with Pagliuca.

He stated that they both "share similar values and passion for sports." As such, his resolution to partner with Pagliuca for the Chelsea bid was without a doubt.

“The decision to partner with Steve was an easy one as we share similar values and passion for sports," Tanenbaum said. “Once we started speaking, it was clear that we share the same long-term vision and goals for Chelsea.”

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NBA chairman Larry Tanenbaum joins a list of top backers in Steve Pagliuca's bid to buy Chelsea

TORONTO, ON - JUNE 17: Larry Tanenbaum, Chairman of MLSE, owners of the Toronto Raptors waves to the crowd during the Toronto Raptors Victory Parade on June 17, 2019 in Toronto, Canada. The Toronto Raptors beat the Golden State Warriors 4-2 to win the 2019 Finals.

Larry Tanenbaum, the chairman of the Maple Leaf Sports and Entertainment outfit, has backed Pagliuca's bid to purchase Chelsea. He has ownership stakes in quite a few sporting companies, including the Toronto Raptors, Toronto FC, NHL's Maple Leafs and the city's MLS team, and having Chelsea FC in his portfolio would be a rich addition.

According to Mark Kleinman of Sky News, the Celtics' co-founder, Pagliuca, also has his bid backed by Facebook's co-founder, Eduardo Saverin, while he tries to get former Disney executive chairman, Bob Iger, who stepped down in December, to do the same.

Other bidders for the North London resident team are Tom Ricketts (Chicago Cubs owner), alongside a consortium that includes LA Dodgers part-owner Todd Beohley, and a group led by former Liverpool and British Airways chairman Martin Broughton.