Chelsea bidders 'told to increase offers by £500m'

Roman Abramovich has reportedly requested that the three remaining bidders in the race to buy Chelsea increase their offers by £500m.

US merchant bank Raine Group are said to be close to selecting a preferred candidate out of consortiums headed by Todd Boehly, Sir Martin Broughton and Stephen Pagliuca.

However, at a time when it is claimed that a announcement could be a day away, Sky News claims that the financial demands have been increased.

The report says that Abramovich wants to receive an extra £500m that can be donated to his charity, the Russian oligarch previously describing it as "the victims of Ukraine".

As it stands, it is unclear whether the relevant parties will accept such terms, the request having the potential to lead to further delays to a takeover.

With Chelsea unable to buy, sell or renegotiate contracts with current players, everyone involved is keen to find a solution as soon as possible.