Soccer-South Korean companies join forces with Candy in bid for Chelsea

By Peter Corridor

MANCHESTER, England (Reuters) -South Korea firms Hana Monetary Funding Firm Restricted and C&P Sports activities Restricted have joined forces with British Property developer Nick Sweet to make a bid for Chelsea, a press release from Sweet stated on Friday.

Premier League Chelsea have been initially put up on the market by proprietor Roman Abramovich following Russia’s invasion of Ukraine earlier than sanctions have been imposed on the oligarch by the British authorities, successfully giving it management of the membership.

Raine Group, a U.S. financial institution, has been overseeing the sale course of since earlier than the Russian billionaire was sanctioned, and have set a 2100 GMT deadline on Friday for gives to be submitted, with the Sweet consortium planning a bid.

“I can verify that the 2 South Korean companies Hana Monetary Funding Firm and C&P Sports activities Group are a major a part of Mr Sweet’s world consortium of buyers,” a press release from The Blue Soccer consortium, Sweet’s bid automobile, advised Reuters.

“Their involvement is consultant of Chelsea’s world model and big loyal fan base in Asia.”

C&P Sports activities CEO Catalina Kim had earlier confirmed to Reuters that they and Hana have been contemplating a bid.

“We’re within the technique of arranging our bid for Chelsea FC,” a press release learn. “Surprisingly sufficient, regardless of the scale of the economic system, there has by no means been funding into (English) Premier League soccer golf equipment made by South Korean capital thus far.

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

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Hana Monetary Funding Firm Restricted is a member of Korean banking large Hana Monetary Group – a South Korean funding financial institution and monetary companies firm headquartered in Seoul, Korea.

Hana Monetary Group is the title sponsor of the Korean Soccer League and the nationwide soccer group.

C&P Sports activities Restricted is a number one sports activities consultancy firm primarily based in London and Seoul.

C&P Sports activities has labored on industrial offers with a number of massive golf equipment within the final 10 years, similar to Kumhos Tyres with Tottenham Hotspur, Nexen Tyre with Manchester Metropolis and Hyundai Motors with Atletico Madrid.

Sweet, a lifelong Chelsea fan, has been joined by former Blues participant and supervisor Gianluca Vialli as he prepares his bid.

“I’ve met Nick Sweet on various events over the previous couple of weeks and I’m totally behind his visions,” Italian Vialli stated in a press release after it was introduced the corporate he co-founded, Tifosy, will act as lead advisor for the method.

The consortium faces stiff competitors to take over at Chelsea, with quite a few different firms and enterprise folks planning to make a bid earlier than the deadline passes.

World Athletics President Sebastian Coe has joined a consortium together with former Liverpool chairman Martin Broughton.

Swiss billionaire Hansjoerg Wyss, who has linked up with LA Dodgers co-owner Todd Boehly to specific an curiosity, has been joined by British businessman Jonathan Goldstein and Conservative peer Daniel Finkelstein.

(Reporting by Peter Corridor; Modifying by Christian Radnedge and Ken Ferris)