Nick Candy to submit £2.5billion bid to buy Chelsea this week
Nick Candy, a British property entrepreneur, is working on a £2.5 billion Chelsea proposal that includes designs for a £1.5 billion restoration of Stamford Bridge and is expected to be filed by the end of the week.
The Chelsea supporter, 49, is in talks with several American investors about assembling a group to make a formal bid for the club.
Candy and his possible partners are thought to place a lower value on the club than Roman Abramovich’s £3 billion asking price. In the circumstances, however, a price of £2.5 billion would be considered plausible, since the Russian seeks a rapid sale as he prepares to be sanctioned by the government as soon as next week.
Chicago Cubs chairman Thomas Ricketts, New York Jets owner Woody Johnson, and Crystal Palace shareholder Josh Harris are among the American billionaires linked with a bid for Chelsea.
A spokeswoman for Candy revealed to Sportsmail that ‘Nick Candy is actively examining a number of alternatives for a prospective offer for Chelsea Football Club.’ ‘Any bid would be made in collaboration with another party (or consortium), and numerous foreign partners have expressed considerable interest.’
‘Mr Candy has a strong connection to Chelsea. His father was requested to play for the club, and he has been a fan of the team since he was four years old. The club deserves a world-class stadium and infrastructure, and Mr Candy’s real estate skills and experience would be a big help in realizing this goal.’
Candy would put some of his estimated £1.5 billion fortune into the takeover offer, but he is also being courted by American investors due to his real estate skills, offices in west London, and Chelsea familiarity.
After coming under pressure for allegedly having ‘tight relations’ with President Vladimir Putin during his invasion of Ukraine, current owner Abramovich placed the club up for sale.