An American hedge fund, who own Italian side AC Milan, are reportedly backing Nick Candy's bid to buy Chelsea off of current sanctioned owner Roman Abramovich.
Candy's Blue Football Consortium are understood to have increased their bid to around £2.5bn in a bid to take over at Stamford Bridge.
But according to Sky, Elliott Management, based in New York, are ready to inject a multi-million pound sum into the Blues to back up Candy's bid.
The move comes as bidders for the club expect to be notified on Wednesday or Thursday over whether their offer has made the shortlist to be considered as a serious contender to become the club's new owners.
Elliott took over at AC Milan in 2018 and have since helped the Italian giants become much more competitive in Serie A with the Rossoneri top of the table as they look to win their first league title in 11 years.
The group though have also been reportedly been considering selling the club within the next two years, while they also have had financial involvement at French top tier side Lille.
UEFA rules state that if two clubs are majority owned by the same entity meet in competition, one club would have to forfeit the tie.
However, this would unlikely need to be addressed should Chelsea and Milan meet in Europe, as Elliott's reported interested and cash injection into the west London outfit would only be negligible.
Candy's Blue Football Consortium are understood to have submitted proof of funds to the Raine Group, who are in the process of whittling down around 50 initial bids to a shortlist of three or four.
Following Raine's initial shortlist, bids will be passed on to Chelsea to identify a preferred bidder, with chairman Bruce Buck and director Marina Granovskaia expected to lead that process given owner Roman Abramovich has been sanctioned.
After the preferred bidder has been identified, details of the winner will be passed to the Government, who have to sign off the deal.
If the Government reject it, the club will need to select another offer.
Chelsea could also turn down any of the offers and there have been suggestions that Abramovich may refuse to deal with buyers from a country who have sanctioned him, such as Britain and the United States.
Only after all these hurdles have been cleared will the winning bid be passed on to the Premier League, who must then decide if the buyers pass their owners' and directors' test.