Hana Financial Group executive explained the reasoning behind their joining Nick Candy’s “Blue Football” consortium bid to buy Chelsea.
A recent report from The Telegraph claims that Nick Candy’s group has raised their bid for Chelsea to significantly over £2bn.
The report also mentioned that the Blue Football consortium’s bid is mainly funded by South Korean investors.
It includes the latest extra funds which were secured by Catalina Kim, who is part of Candy’s consortium as the CEO of C&P Sports.
One of the South Korean financiers is Hana Financial Group with over £300bn in assets (502.4 trillion South Korean Won per its official website).
One of the company’s executives has recently revealed their role in the joint bid.
“The answer as to Hana’s intentions is so simple — we are there to provide a financial service platform as necessary, nothing more or less,” an executive at Hana Financial Investment told The Korea Times on Monday.
“Funding capital is our job as an asset management company and that’s where we come in regarding the Chelsea bid.”
It remains unclear, however, whether Candy contacted Hana Financial Group directly or through C&P Sports CEO, Kim.
“You can see that it did not necessarily have to be Chelsea for us to join a takeover bid,” the source added while pointing out Hana Financial Group’s role in another consortium in the redevelopment of a sports complex in southern Seoul.
Based on these statements, it is pretty clear that they are in it purely for business.
While it is not necessarily a bad thing, it will always be about making profits for these financial companies, who are ultimately responsible to their clients.
Obviously, Hana Financial Group is just one of the financiers behind Candy’s consortium, and it is unclear how big their role is in the bid in the first place.
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