Prospective Chelsea buyer Todd Boehly improved his consortium's bid to buy the stricken club just before Friday's 9pm deadline for offers.
Roman Abramovich is selling the European champions after being sanctioned by the UK government. The Russian oligarch is alleged to have close links to Vladimir Putin, who ordered his troops to invaded Ukraine last month. Abramovich denies the allegations.
Chelsea are currently operating under a special license as a result of the sanctions, severely restricting their revenue streams. The Premier League outfit will be at serious risk of financial collapse if they aren't sold in the coming days and weeks.
Several wealthy individuals are interested in buying Chelsea, with Boehly, Tory donor Nick Candy and former Liverpool chair Sir Martin Broughton all leading consortiums. The Ricketts family, who own the baseball franchise Chicago Cubs, are also in the running.
The Raine Group are overseeing the sale on Abramovich's behalf. The UK government will only approve a sale if the billionaire makes no money from it, although it's believed he will have the final say on the club's preferred bidder.
As reported by The Telegraph, the consortium led by Boehly "dramatically improved" their bid for the Blues just minutes before the deadline. It's thought their initial offer was between £2billion and £2.5bn but have lodged a final bid to beat their rivals.
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Although it's unclear how much the offer was, Boehly's group are said to have guaranteed certainty over the funds available to run the club. A deal could be completed in time for Chelsea's next Premier League game against Brentford on April 2.
Broughton, meanwhile, has claimed his consortium's investors come from "four of five" continents. It's unclear whether Crystal Palace chairman Joshua Harris is involved in Broughton's consortium. The Chelsea bidder has pledged to eventually reveal his investors.
"Due process and non-disclosure payments means we will be [transparent]," said Broughton told Sky News. "We have been with Raine, we will be with the Premier League, we will be with Chelsea, and we will as soon as we can be with the public.
“But what I can say is it is a group of committed – from around the world, there’s money from around the world – this is not a bid led by anyone in particular other than me. I’m the person who’s put it together. It’s a bid from capital from around the world. It’s not from just one country. It reflects the global nature of the club and the global nature of Chelsea."
In their most recent statement, the Chelsea Supporters' Trust (CST) noted: "The CST has played an important role over these difficult weeks. Through engaging with MPs and the Government we have ensured the voice of Chelsea fans has been heard at the table when decisions have been made.
“We can also confirm that we have held positive discussions with a number of prospective bidders. We have presented them with detailed plans on how our proposals could be implemented. We strongly welcome these proactive discussions and look forward to continuing them in the coming weeks."
