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LIVE – Updated at 11:06

The sale of Chelsea FC continues to drag on as the New York merchant bank overseeing the process, the Raine Group, compiles a shortlist of three preferred offers.

The various interested parties had expected to receive word on whether they had made the final three early this week but the complexity of the deal and information involved has meant more time is needed, despite the clear urgency of the matter following Roman Abramovich’s santions by the UK government.

British property tycoon Nick Candy revealed he “significantly” increased the amount offered for the club.