British billionaire Nick Candy steps up Chelsea pursuit with ‘significantly’ increased bid
- Planet Sport writer
- 21 March 2022
British property tycoon Nick Candy has “significantly” increased his bid to buy Chelsea Football Club, according to his spokesperson.
The Chelsea fan had secured further funding courtesy of a South Korean financial backer - a move which allowed Candy to submit an improved bid for the London based club.
The 49-year-old added South Korean investors Hana Financial Group and C&P Sports Group to his bid on Friday.
A spokesperson for the British billionaire said: "Nick Candy has improved his British-led bid to buy Chelsea Football Club following the addition of another large international backer to his Blue Football Consortium.
"Mr Candy submitted a bid of more than £2billion to The Raine Group last Friday but has now increased this significantly after another large Korean financial institution joined his consortium over the weekend.
"Proof of the additional funds has been sent to The Raine Group."
Current Chelsea owner Roman Abramovich put the club up for sale on March 2, amid the continuing conflict in Ukraine.
The 55-year-old was sanctioned by the UK government on March 10, with Downing Street claiming the Russian-Israeli has direct links to Russia's president, Vladimir Putin.
Abramovich has seen all his UK assets frozen, with the exception of his Premier League outfit Chelsea. The club currently operates under a strict government licence.
The Chelsea owner cannot profit from the sale, but he has pledged to write-off £1.5billion of the club's debt.
As things stand, American-backed bids from Chicago Cubs owners, the Ricketts family, and LA Dodgers part-owner, Todd Boehly, are among the frontrunners.
