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The Ricketts family, who own Major League Baseball team the Chicago Cubs, a consortium featuring Lord Coe and another group led by British property investor Nick Candy have all submitted offers to buy Chelsea, the BBC reports.

A deadline for bids was set for 21:00 GMT on Friday after the Premier League club had been put up for sale by Russian owner Roman Abramovich.

Chelsea fan Candy said that he had secured additional investment from South Korea and that his bid is "over £2bn".

Abramovich's attempt to sell the club was halted after he was sanctioned by the UK government and his assets, including Chelsea, were frozen.

That move came in the wake of Russia's invasion of Ukraine, with Abramovich understood to have strong ties to Russian president Vladimir Putin.

American investment firm Raine Group has been tasked with selling Chelsea and the UK government is expected to issue a new licence, allowing the club to be sold, once a preferred buyer had been highlighted.

Although the official deadline to purchase the west London Premier League club was 21:00 GMT on Friday, some final bids are likely to be submitted into the weekend.

There are still more than 20 interested parties, but the number of confirmed bids is likely to be 10 to 15.

Chelsea and Raine Group will make a shortlist next week, with the preferred bidder then requiring government approval, which will involve proving the source of funds and where the money goes next.

Any sale will also need to be signed off by the Premier League's owners' and directors' test - known as the 'fit and proper person's test'.