Nick Candy has vowed to involve Chelsea fans if the British property tycoon succeeds in his bid to buy the troubled Premier League club.
Candy is believed to have submitted a bid of over £2 billion ($2.6 billion) for his boyhood team before Friday's deadline and he promised to give fans a 'golden share' ownership stake.
On a frantic day at Stamford Bridge, former Liverpool chairman Martin Broughton and World Athletics president Sebastian Coe also lodged a joint bid.
Chicago Cubs owners the Ricketts family followed suit, while LA Dodgers co-owner Todd Boehly's consortium also made a confirmed bid.
There are reported to be several other firm bids on the table, but Candy is a front runner.
Candy issued a lengthy statement in confirming the submission of his bid, vowing to write off the loan to Chelsea Pitch Owners to safeguard the Blues' future at Stamford Bridge.
The 49-year-old has promised a total renovation of the stadium, where his property expertise could come to the fore.
Candy has teamed up with South Korean firms Hana Financial Group and C&P Sports Group in his Blue Football Consortium.
"Chelsea is one of the most iconic and successful professional football clubs in the world, with a rich heritage, global following, and a highly valuable brand," Candy said.
"Football clubs are vitally important community and cultural assets, and this is 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 a leading global football club.
"I believe Chelsea has all of the fundamentals to become the most valuable and respected sports club in the world and a force for the greater good in everything it does."
Roman Abramovich put Chelsea up for sale on March 2, amid Russia's invasion of Ukraine.
The 55-year-old was then sanctioned by the UK Government last week, after Downing Street claimed to have proved his links to Vladimir Putin.
Russian billionaire Abramovich has always denied those links but UK assets have been frozen by the Government.
Chelsea have been allowed to continue operations under special licence, but Abramovich cannot profit from the sale.
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