MANCHESTER (REUTERS) – AC Milan proprietor Elliott Management has joined the Nick Candy-led Blue Football consortium as a “minor investor” of their bid to purchase Premier League membership Chelsea, sources near the deal advised Reuters.
Chelsea had been initially put up on the market by proprietor Roman Abramovich following Russia’s invasion of Ukraine earlier than sanctions had been imposed on the oligarch by the British authorities, successfully giving it management of the membership.
Bidders had been anticipating to listen to again from US financial institution Raine Group, which is overseeing the sale along side Chelsea, as as to if it has made a narrowed shortlist earlier this week, however sources stated bid revisions have slowed the method.
British property developer Candy’s bid was elevated on Monday after being joined by “another large Korean financial institution”, it stated in an announcement, with sources including the consortium has grown additional on Thursday (March 24).
Elliott Management, an American hedgefund enterprise, has injected a “multi-million pound sum” into the bid, the sources advised Reuters.
Elliott turned proprietor of Milan in 2018 and has since helped the Italian giants grow to be way more aggressive in Serie A. They prime the standings and are chasing their first league title in 11 years.
Representatives from Elliott didn’t instantly reply to Reuters’ requests for remark.
Candy had initially been joined in its consortium by South Korean firms Hana Financial Group and C&P Sports Limited earlier than the brand new traders received on board.
Others who’ve made their gives public embody Chicago Cubs homeowners the Ricketts household in addition to the pairing of former Liverpool chairman Martin Broughton and World Athletics President Sebastian Coe.
London-based world funding agency Centricus additionally stated it had supplied to purchase Chelsea, a transfer pushed by co-founder Nizar Al-Bassam and chief govt Garth Ritchie, who’re stated to be season-ticket holders.
The post Football: AC Milan’s owner joins Candy consortium in bid for Chelsea first appeared on Umorr.
