Saudi Media Group's £2.7m bid to buy Premier League club Chelsea is likely to fail, according to a report.

Raine Group are currently in the process of assessing each of the offers which were put forward before Friday's deadline, with other proposals said to have arrived in the days which followed.

Previous reports have indicated that one of the bids from an American consortium is likely to get the nod as the preferred bidder over time, a view which is shared by The Athletic.

The report claims that approaches from Todd Boehly, The Ricketts Family and Woody Johnson - owners of the Los Angeles Dodgers, Chicago Cubs and New York Jets respectively - may emerge as strong rivals to proposals with British backgrounds.

However, it adds that an offer from Saudi Media Group is not regarded as one of the frontrunners, with a decision on a handful of bidders expected over the next 36 hours.

Furthermore, it is added that the change of ownership may not be made official until some point in May, a less than ideal situation with Roman Abramovich and the West London outfit currently under government-imposed sanctions.