Nick Candy’s improved bid to buy Chelsea could impact the three groups reportedly leading the race to win the top prize.
According to the Telegraph, the parties currently out in front are Todd Boehly, helped by Hansjorg Wyss, the Ricketts family and Sir Martin Broughton’s consortium.
Each submitted their proposals either before or on last Friday’s deadline to the Raine Group, who are now whittling down the candidates to just a select few.
Where does Nick Candy come into this?
Candy did originally place an offer of over £2billion (Telegraph), but has since increased this value thanks to the backing of two South Korean companies.
C&P Sports and the Hana Financial Group both offered their investment, helping to raise the stakes in the selection process.
The Telegraph claim that Catalina Kim, the CEO of C&P, is still in conversation with other South Korean financers about adding to their treasure chest, if Raine grants the consortium a green pass.
This would certainly increase Candy’s odds at acquiring Chelsea from Roman Abramovich, the club he supports.
What next for the bidders?
Pass through Raine’s first test and those lucky winners will then have to be checked by the UK government and the Premier League.
For the likes of the Saudi Media Group, another apparently waiting in line for Abramovich’s empire, the latter stages of the procedure could halt their progress.
At the moment, this is all if, buts and maybes.
Until a new owner comes to the forefront, many can only speculate over the name of Chelsea’s next proprietor.
Whoever does come in will have to get to work quickly.
Jobs need securing, salaries have to be paid, expiring contracts must be resolved, Stamford Bridge requires a makeover.
There is a long to-do list awaiting the next person or people taking over the European champions.
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