Ahead of Friday's deadline, the race for the club is heating up as rival bids join together to form "super consortiums".

Sky News is reporting that the family that owns the Chicago Cubs will lodge a formal offer on Friday.

Sky Sports News understands that various parties are interested in working with Nick Candy.

Candy has the funds and backers in place to make an offer. If his bid to buy the club is successful, he will give fans a seat on the board.

He has a background in developing property in central London and other people want to team up with him.

Candy held talks with Sir Martin Broughton, a lifelong Blues fan, about a deal.

In an interview with Sky Sports News before the game against Newcastle on Sunday, Candy revealed his passion for the club and his desire to become Roman Abramovich's successor, who was sanctioned last week after announcing his desire to sell the Blues.

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Property developer and prospective Chelsea owner Nick Candy says he loves the club and doesn't mind who takes over as long as it is in safe hands

Mr Candy said his dad was asked to play for the club. I love her. Even if it isn't with me, I don't mind where it ends up.

The fans need to be part of the ownership. Both on the board and economically.

Friday deadline | Around 200 interested

Interested parties will have to show proof of funds before they are given access to financial details about Chelsea, but bids have to be in with Raine Group by Friday. Many of the 200 expressions of interest are not serious. The Saudi Media Group is reported to have made a bid, but it would be difficult to complete a deal in Saudi Arabia.

Government discuss third party option for Chelsea ticket sales

The UK Government has suggested to the club that they could sell tickets through a third party to get past the sanctions.

The Russian owner of the club gave the club a licence last week that prevents them from selling any more tickets to their fans.

A member of ground staff adjusts a match board ahead of the upcoming Premier League match between Chelsea and Newcastle at Stamford Bridge (AP)
Image: Chelsea could be given a lifeline to sell tickets via a third party organisation

The lack of Blues away fans at the game would damage the integrity of the fixture and the competition. The request was revoked by the west London club after strong backlash from the football community.

One of the proposals being worked on is to give responsibility for selling tickets to a third party to the government.

The distribution of tickets would be overseen by a third party to make sure that Roman Abramovich was not benefiting from the proceeds.

Abramovich sanctioned by EU | Lille CL tie set to go ahead

On Tuesday, the European Union imposed sanctions on Roman Abramovich.

The EU included the Russian billionaire in its updated list of people facing travel and asset freezes due to his close ties to Putin.

As it stands, the second leg of the last-16 of the European soccer competition will go ahead as planned on Wednesday.

Roman Abramovich pictured at the 2021 Champions League final
Image: Roman Abramovich pictured at the 2021 Champions League final

The statement read: "UEFA is committed to always implementing relevant EU and international sanctions." The current case is assessed in the context of the licence issued in the UK, which allows the club to continue with minimum football activity, but with a safeguard that no financial gain will result for Mr.Abramovich.

We will work with the EU and relevant member states to ensure we have full clarity and remain in lockstep with all relevant and applicable measures.

The new independent panel will not be in place before the sale of Chelsea, as the Premier League revealed on Tuesday.