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Nick Candy significantly increases bid to buy Chelsea after gaining further funding

Nick Candy significantly increases bid to buy Chelsea after gaining further funding by way of one other South Korean monetary backer

  • Property tycoon Nick Candy has significantly elevated his bid for Chelsea
  • Candy submitted a bid of greater than £2billion to The Raine Group final Friday
  • South Korean corporations Hana Financial Group and C&P Sports Group are a part of bid
  • Candy has now further strengthened his hand as he seems to buy the membership
  • The 49-year-old is dedicated to his promise of involving followers in membership’s future 

Nick Candy has ‘significantly’ elevated his bid to buy Chelsea, a spokesperson for the British property tycoon confirmed.

Chelsea fan Candy has secured further funding by way of one other South Korean monetary backer, permitting the 49-year-old to submit an improved supply for the Stamford Bridge membership.  

Candy added South Korean buyers Hana Financial Group and C&P Sports Group to the bid he submitted to New York financial institution Raine Group on Friday.

British property tycoon Nick Candy has significantly increased his bid for Chelsea

British property tycoon Nick Candy has significantly elevated his bid for Chelsea

But the London billionaire has now further strengthened his hand, within the hope of pushing onto the shortlist of most well-liked bids being compiled by Raine.

‘Nick Candy has improved his British-led bid to buy Chelsea Football Club following the addition of one other massive worldwide backer to his Blue Football Consortium,’ mentioned a spokesperson for Candy.

‘Mr Candy submitted a bid of greater than £2billion to The Raine Group final Friday however has now elevated this significantly after one other massive Korean monetary establishment joined his consortium over the weekend.

‘Proof of the extra funds has been despatched to The Raine Group.’

Candy (centre) made an initial bid of more than £2billion but has now gained backing from another Soutk Korean investor

Candy (centre) made an preliminary bid of greater than £2billion however has now gained backing from one other Soutk Korean investor

Roman Abramovich put Chelsea up on the market on March 2, amid Russia’s continued invasion of Ukraine.

The Russian-Israeli billionaire was then sanctioned by the UK Government on March 10, with Downing Street claiming to have confirmed the 55-year-old’s direct hyperlinks to Vladimir Putin.

Abramovich’s UK property are all frozen barring Chelsea, with the membership working below a strict Government licence.

Abramovich can’t revenue from Chelsea’s sale, however had already pledged to write off the membership’s £1.5bn debt.

American-backed bids from LA Dodgers part-owner Todd Boehly and Chicago Cubs house owners the Ricketts household are among the many frontrunners to take over at Chelsea.

Roman Abramovich put Chelsea up for sale on March 2 amid Russia's invasion of Ukraine

Roman Abramovich put Chelsea up on the market on March 2 amid Russia’s invasion of Ukraine

Abramovich can't profit from Chelsea's sale, but pledged to write off the club's £1.5bn debt

Abramovich cannot revenue from Chelsea’s sale, however pledged to write off the membership’s £1.5bn debt

Sir Martin Broughton and Lord Sebastian Coe have one other potent providing lodged, whereas Saudi Media Group is one other of the bids understood to carry clout, and Raine is transferring shortly by way of the method given Chelsea’s want for a quick switch of possession.

London-based international funding agency Centricus confirmed its bid to buy Chelsea on Monday, with a consortium comprising 4 Blues supporters.

Centricus co-founder Nizar Al-Bassam and chief govt Garth Ritchie launched the bid, alongside Cheyne Capital hedge fund supervisor Jonathan Lourie and Talis Capital’s Bob Finch.

LA Dodgers part-owner Todd Boehly is another significant contender to buy Chelsea

LA Dodgers part-owner Todd Boehly is one other vital contender to buy Chelsea

The Ricketts family - Joe Ricketts pictured - are also interested in buying Chelsea

The Ricketts household – Joe Ricketts pictured – are additionally inquisitive about shopping for Chelsea

Candy was refusing to hand over on his ‘once-in-a-lifetime’ bid to buy Chelsea nevertheless, with legislation agency Squire Patton Boggs firmly on board.

‘The Blue Football Consortium has entry to quick capital with funds available for deployment from day one,’ mentioned Squire Patton Boggs accomplice Brian Gordon.

‘The bid is sourced from credible co-venturers whose perspective in direction of governance is prime rated.’

As reported by Sky Sports, Candy additionally revealed that he has held discussions with tech platform PrimaryBid as he considers a group enfranchisement mannequin for Chelsea. Candy is keen to contain Chelsea followers in the way forward for the membership. 

Candy mentioned: ‘This stays a once-in-a-lifetime alternative to give soccer again to the followers and put them on the coronary heart of the operations and technique of Chelsea Football Club. 

‘We are dedicated to preserving the unimaginable legacy of the membership and to selling group involvement, and we will present the monetary stability to guarantee the long run progress of the membership on the world stage.’ 

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