Nick Candy has improved his British-led bid to buy Chelsea Football Club following the addition of another large international backer to his Blue Football Consortium.
Candy submitted a bid of over £2billion to The Raine Group last Friday but is now known to have increased this significantly after another large Korean financial institution joined his consortium over the weekend.
Proof of the additional funds has been sent to The Raine Group and is a huge boost to Candy's bid, which is highly tipped to be one of the few preferred bids to make the shortlist.
The Raine Group is now meeting to draw up a shortlist of the preferred bidders for Chelsea
The shortlist is probably going to be two or three preferred bidders.
Sky Sports News chief reporter Kaveh Solhekol
A decision on that shortlist is expected either on Monday evening or early on Tuesday and the process to sell the club is likely to take at least another month.
Candy also revealed on Monday that he has held initial discussions with tech platform PrimaryBid, with a view to potentially considering a community enfranchisement model for Chelsea as he doubles down on his commitment to involve fans in the future of the club.
The PrimaryBid platform would enable all stakeholders of Chelsea - including employees and fans - to have access to buy a stake in the club.
Candy commented: "This remains a once-in-a-lifetime opportunity to give football back to the fans and put them at the heart of the operations and strategy of Chelsea Football Club. We are committed to preserving the incredible legacy of the club and to promoting community involvement, and we can provide the financial stability to ensure the future growth of the club on the world stage."
'The race to own Chelsea is heating up' chief reporter Kaveh Solhekol:
"We already know that on Friday they put in a bid that was worth more than £2bn and they have now increased that bid, that is because they have managed to get in more investment into their consortium over the weekend.
"We already knew they were backed by two South Korean companies, Hana Financial Group and also C&P Sports Group, and over the weekend another South Korean financial institution has joined their consortium.
"Now earlier [on Monday] The Times reported another consortium had made a bid for Chelsea, this was a consortium headed by Centricus, who are an asset management company, they manage about £29bn worth of assets, they are based in the United Kingdom.
"They significantly have four bankers, hedge fund managers in the consortium who are all Chelsea season-ticket holders as well.
"What we're really seeing today is the race is heating up to make it onto the shortlist of the preferred bidders who will really have a chance of buying Chelsea."