Nick Candy submits £2bn bid for Chelsea

UK property developer Nick Candy has said he bid more than £2 billion ($2.6 billion) with a group including two South Korean partners for Chelsea Football Club, while rival bids from investors including former Liverpool FC Chairman Martin Broughton also landed before Friday’s deadline.

Mr Candy teamed with South Korea’s Hana Financial Group and C&P Sports Group to bid for the club, put up for sale by Roman Abramovich in response to UK government sanctions against him following Russia’s invasion of Ukraine.

In a statement late Friday, Mr Candy said he plans to deliver a new stadium at the club’s Stamford Bridge home in west London and “set a new benchmark in stadium design worthy of the Chelsea’s globally celebrated reputation, whilst creating a major new landmark for London.”

Several bidders are expected to have made indicative offers for the club by the deadline, with everyone from US sports tycoons to a hedge fund founder reportedly showing interest.