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South Korea’s Hana Financial Group joined a race to buy English Premier League club Chelsea in a consortium with British property developer Nick Candy and C&P Sports Ltd.“It is true that Hana Financial Group’s IB unit submitted an LOI (letter of intent) along with C&P, said a source of the group told The Korea Economic Daily, confirming media reports that Candy and the South Korean companies joined forces to make a bid for Chelsea.Candy, Hana and C&P cooperated to bid 2 billion pounds ($2.6 billion) for Premier League Chelsea, Reuters reported citing the British billionaire. The club was put up for sale after Russian owner Roman Abramovich was hit by UK government sanctions following Russia’s invasion of Ukraine. Abramovich aims to sell the famous club at 4 billion pounds, according to media reports.The Blue Football Consortium was quoted as saying the participation of Hana and C&P indicated the global brand value of Chelsea and its strong fandom in Asia.TIME FOR A CHANGEC&P is a leading sports consultancy company with its clients including major clubs such as Spain’s Real Madrid CF, Italy’s AC Milan, as well as UK’s Manchester City FC and Tottenham Hotspur.“We are preparing our bid. There has never been investment into a top-tier football club made by South Korean capital before. It is time for a change,” C&P CEO Catalina Kim was quoted as saying by the Guardian.Candy, a lifelong Chelsea fan, has also joined hands with former Blues player and manager Gianluca Vialli for the bid, media reported.In addition to Candy’s consortium, London-based financial firm Aethel Partners, the Ricketts family that owns US baseball team the Chicago Cubs- Citadel founder Ken Griffin consortium, Swiss billionaire Hansjoerg Wyss-LA Dodgers co-owner Todd Boehly consortium and World Athletics President Sebastian Coe-former Liverpool chairman Martin Broughton joined the race for Chelsea, according to media reports.By Nan-Sae Binbinthere@hankyung.comJongwoo Cheon edited this arrticle.
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