Chelsea sale: Candy improves Blues bid as shortlist of preferred bidders set to be announced imminently

ByEurosport

Published 22/03/2022 at 08:34 GMT

Nick Candy and the Blue Football Consortium have improved their bid to buy Chelsea after they acquired additional funding. The Raine Group is set to announce its list of preferred bidders imminently. Roman Abramovich put the Blues up for sale following Russia’s invasion of Ukraine, but the process was complicated after the UK government placed sanctions on him.

Nick Candy watches from the crowd on day four of the AEGON Championships at Queens Club, London, June 14, 2012

Image credit: Getty Images

The Blue Football Consortium have improved their bid to buy Chelsea. The Nick Candy-led group secured additional backing from a large Korean financial institution.

The consortium are one of a number of confirmed parties who have tabled bids for the London club, with The Raine Group, the merchant bank tasked with handling the sale of the club, set to announce its preferred shortlist imminently.

Roman Abramovich put the Blues up for sale following Russia’s invasion of Ukraine, but the process was complicated after the UK government placed sanctions on him.

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The club are operating under a series of financial restrictions which are limiting their ability to trade, and they are looking for a quick sale to be completed.

The Blue Football Consortium are one of a number of confirmed parties interested in buying the club, with a group led by Lord Coe and Sir Martin Broughton, a Centricus-backed bid and the True Blues consortium – who count John Terry among their supporters - also said to be leading contenders.

the True Blues consortium are aiming to buy a 10% stake in the club to protect the club’s “history and heritage”, while Centricus say that they want to "maintain and support existing management".

Property developer Candy, a confirmed fan of Chelsea, is leading the Blue Football Consortium’s bid to buy the London club. They tabled a bid on Friday, and have now secured further funding to put improved terms to The Raine Group.

The BBC reported that Blue Football Consortium improved their £2 billion bid after securing backing from a large Korean financial institution.

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