Nick Candy increases bid for Chelsea after Korean partner joins consortium


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With the arrival of another prominent international investor to his Blue Football Consortium, Nick Candy's British-led bid to buy Chelsea Football Club has improved.

Candy proposed nearly £2 billion to The Raine Group last Friday. Still, it is now known that he has dramatically raised it after another huge Korean financial institution joined his consortium over the weekend.

The Raine Group has received proof of the additional cash, which is a big help to Candy's proposal, which is widely expected to be one of the few prefered bids to make the shortlist.

The Raine Group is currently convening to compile a shortlist of Chelsea's prefered buyers.

On Monday evening or early Tuesday, a decision on the shortlist is expected, and the process of selling the club is likely to take at least another month.

Candy also announced on Monday that he has met with the digital platform PrimaryBid to examine the possibility of a community enfranchisement model for Chelsea. He emphasises his desire to include fans in the club's future.

All Chelsea stakeholders, including staff and supporters, will be able to buy an interest in the club through the PrimaryBid platform.

Chelsea season-ticket holders have indicated that a British-funded bid attempts to purchase the club.

Centric, a London-based asset management firm, has teamed up with Cheyne Capital's Jonathan Lourie and Talis Capital's Bob Finch to launch a proposal.

At Stamford Bridge, Lourie, Finch, Centricus co-founder Nizar Al-Bassam, and CEO Garth Ritchie are all season ticket holders. To assist Chelsea, the organisation hopes for a swift resolution.

Amid Russia's ongoing invasion of Ukraine, Roman Abramovich put the London club up for sale on March 2. The UK Government then sanctioned the Russian-Israeli millionaire on March 10, claiming to have evidence of the 55-year-direct old's ties to Vladimir Putin.

Todd Boehly, a part-owner of the Los Angeles Dodgers, and the Ricketts family, owners of the Chicago Cubs, are among the front-runners to take over.

Sir Martin Broughton and Lord Sebastian Coe have also made a bid.

Meanwhile, the FA is working with the government to ensure that Chelsea fans can attend the FA Cup semi-final against Crystal Palace in April at Wembley.

The authorities have previously been requested to enable Chelsea fans to purchase FA Cup semi-final tickets on the condition that any revenues go to the people of Ukraine.

The Digital, Culture, Media and Sport Committee chair, Julian Knight, has advocated for amendments to the club's special licence, issued following Abramovich's sentence.

The licensee's goal is to prevent the team - and, by extension, Abramovich - from generating new revenue, via ticket sales.

After the sanctions were imposed, Chelsea fans could not acquire tickets for the FA Cup quarter-final triumph over Middlesbrough. Still, Knight thinks a solution must be found before the semi-final versus Palace.

Chelsea requested that the match against Boro be played behind closed doors "for reasons of sporting integrity" due to a failure to sell additional tickets to away fans on Tuesday but retracted the request later that day.

The club is currently unable to sell any additional tickets in the home areas of Stamford Bridge or offer tickets to visitors.

If the licence is not modified, the first leg of their Champions League quarter-final against Real Madrid will be played behind closed doors at home.

The government, the Premier League, and the Football Association discuss ticketing.

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