Chelsea

Chelsea takeover: Nick Candy raises bid 'significantly' after investment from South Korea

Tom Gott
Candy has raised his bid
Candy has raised his bid / Carl Court/GettyImages
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Nick Candy has submitted a new bid to buy Chelsea which is 'significantly' higher than his initial £2bn offer after finding extra financial support from South Korean investors.

Candy, a lifelong Chelsea fan, is leading the 'Blue Football Consortium' in an attempt to win the race to buy the club, and his original proposal was tipped to be one of the offers that would make the final shortlist.

To boost his chances of victory, Candy has now raised his offer after adding investors Hana Financial Group and C&P Sports Group to his bid, with proof of funds already accepted by The Raine Group, who are managing the sale.

There is no mention of just how valuable the new proposal is, but according to a spokesperson for Candy, it is 'significantly' higher than the original £2bn.

“Mr Candy submitted a bid of more than £2bn to The Raine Group last Friday but has now increased this significantly after another large Korean financial institution joined his consortium over the weekend," a statement read.

“Proof of the additional funds has been sent to The Raine Group.”

Candy also confirmed that he has met with tech platform PrimaryBid which, if successful, would allow fans and employees of the club to buy stakes in Chelsea, strengthening his promise to involve fans at the highest level if his bid is successful.

"This remains a once-in-a-lifetime opportunity to give football back to the fans and put them at the heart of the operations and strategy of Chelsea Football Club," Candy said.

"We are committed to preserving the incredible legacy of the club and to promoting community involvement, and we can provide the financial stability to ensure the future growth of the club on the world stage."

The Raine Group are now meeting to decide which proposals to put on a final shortlist. The financial value of the bids will play a part but those offers which include in-depth plans for Chelsea's future are expected to be given more attention.

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