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Soccer South Korean companies team up with Candy to bid for Chelsea

FILE PHOTO: Premier League – Chelsea v Newcastle United
FILE PHOTO: Soccer Football – Premier League – Chelsea v Newcastle United – Stamford Bridge, London, Britain – March 13, 2022 General view of the stand during the match REUTERS/David Klein

March 18, 2022

By Peter Hall

MANCHESTER, England (Reuters) – South Korean firms Hana Financial Investment Company Limited and C&P Sports Limited have teamed up with British property developer Nick Candy to make a bid for Chelsea, Candy said in a statement on Friday.

Premier League Chelsea were initially put up for sale by owner Roman Abramovich following Russia’s invasion of Ukraine, before the British government imposed sanctions on the oligarch, effectively putting him in control of the club.

Raine Group, a US bank, has overseen the sales process before the Russian billionaire was sanctioned and has set a deadline for Friday 2100 GMT for submission of bids, with the Candy consortium planning a bid.

“I can confirm that two South Korean firms, Hana Financial Investment Company and C&P Sports Group, are a significant part of Mr. Candy’s global consortium of investors,” a statement from The Blue Football Consortium, Candy’s bid vehicle, told Reuters.

“Your commitment is representative of Chelsea’s global brand and huge, loyal fanbase in Asia.”

C&P Sports CEO Catalina Kim previously confirmed to Reuters that she and Hana are considering an offer.

“We are in the process of finalizing our offer for Chelsea,” it said in a statement. “Surprisingly, despite the size of the economy, South Korean capital has never invested in Premier League football clubs.

“Now it’s time for a change and we’re ready to start the new chapter with Chelsea.”

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Hana Financial Investment Company Limited is a member of Korean banking giant Hana Financial Group – a South Korean investment bank and financial services company headquartered in Seoul, Korea.

Hana Financial Group is the title sponsor of the Korean Football League and the national soccer team.

C&P Sports Limited is a leading sports consultancy based in London and Seoul.

C&P Sports has worked on commercial deals with several major clubs over the last 10 years including Kumhos Tires with Tottenham Hotspur, Nexen Tire with Manchester City and Hyundai Motors with Atletico Madrid.

Candy, a lifelong Chelsea fan, was joined by former Blues player and manager Gianluca Vialli as he prepared his bid.

“I’ve met Nick Candy on a number of occasions over the past few weeks and I fully support his visions,” Italian Vialli said in a statement after it was announced that the company he co-founded, Tifosy, will serve as lead adviser on the process.

The consortium faces stiff competition to take over Chelsea as numerous other companies and businesspeople plan to bid before the deadline.

World Athletics president Sebastian Coe has joined a consortium that includes former Liverpool chairman Martin Broughton.

Swiss billionaire Hansjörg Wyss, who has joined forces with LA Dodgers co-owner Todd Boehly to express interest, was joined by British businessman Jonathan Goldstein and fellow Conservative Daniel Finkelstein.

(Reporting by Peter Hall; Editing by Christian Radnedge and Ken Ferris)

https://www.oann.com/soccer-south-korean-companies-combine-to-join-chelsea-bidding-process/?utm_source=rss&utm_medium=rss&utm_campaign=soccer-south-korean-companies-combine-to-join-chelsea-bidding-process Soccer South Korean companies team up with Candy to bid for Chelsea

Ashley

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