Nick Candy still interested in buying Chelsea despite uncertainty following Roman Abramovich sanctions
The property tycoon is one of a number of parties interested in buying the Premier League club from Roman Abramovich
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Nick Candy’s vision for a redeveloped Stamford Bridge could hand the British billionaire an edge in the battle to buy Chelsea.
Property tycoon Candy remains interested in bidding for the Champions League holders, despite uncertainty around the club’s sale after owner Roman Abramovich was sanctioned by the UK government on Thursday.
Russian-Israeli billionaire Abramovich’s UK assets are now frozen except for Chelsea, with the west London club handed a special licence to continue trading.
Chelsea’s sale remains technically on hold for now, but the Treasury could issue a new licence to allow a deal to go through – provided Abramovich receives no benefit.
A spokesperson for Candy confirmed the 49-year-old’s continued interest in Chelsea.
“We are examining the details of yesterday’s announcement and we are still interested in making a bid,” said Candy’s spokesperson. “Clearly this is a time of great uncertainty for all Chelsea fans.
“In our view, no one is the owner of a football club – you are the custodian of it for the fans and the community.”
A host of US investors still harbour interest in Chelsea, with LA Dodgers part-owner Todd Boehly part of one consortium, and Chicago Cubs owner Tom Ricketts another with a strongly rumoured interest.
Prime minister Boris Johnson’s government and the Premier League would likely oversee any Chelsea sale now, and Candy’s status and credentials could sit well with those power brokers.
Candy has already declared his ambition to revamp Chelsea’s Stamford Bridge stadium should he win the race to buy the club.
He is putting together a consortium offer for the Blues and his property sphere nous should find favour in Downing Street and Treasury corridors, it is understood.
Analysts believe a fully modernised and expanded Stamford Bridge could boost Chelsea’s commercial revenues by up to 25 per cent per annum.
That major potential uplift, if coupled with an astute financing plan for the stadium rebuild, is among the main reasons for the continued brisk interest in the Chelsea sale.
Boosting the hotel offering at Stamford Bridge and also conferencing facilities would be among the other offshoots of a stadium rebuild.
Abramovich put Chelsea up for sale on Wednesday, March 2 in light of Russia’s continued invasion of Ukraine.
The 55-year-old had pledged to donate all proceeds barring transaction costs to a charitable foundation to be created to aid victims of the war in Ukraine.
Abramovich also vowed to write off the £1.5billion in loans he has made to Chelsea, and has been determined to see the club taken on by an owner with similarly lofty ambitions for the European and world champions.
A government-conducted sale of Chelsea could see the purchasing capital frozen, or directed to charitable causes.
Abramovich may not be given the opportunity to set up his new foundation, but his prior public claims of not wanting to take any proceeds from the sale point to a potential acceptance of government oversight in light of the sanctions.
Chelsea will continue negotiating with the government over alterations to the current trading licence, to allow the Blues to operate as close to normal as possible.
Chelsea cannot make any new signings however, nor can the Blues tie up any new contracts for existing players.
Club captain Cesar Azpilicueta and fellow defenders Toni Rudiger and Andreas Christensen are all out of contract in the summer, and Chelsea could lose all three on free transfers.
Both Chelsea’s men’s and women’s teams produced league wins under the greatest distractions on Thursday night, with respective bosses Thomas Tuchel and Emma Hayes candid on the current state of flux.
“The situation will not go away, maybe tomorrow it will change again, but it will not go away,” men’s head coach Tuchel said.
“I am still happy to be here and still happy to be manager of a strong team. I know there is a lot of noise around.”
Chelsea Women head coach Hayes told Sky Sports News: “There’s no denying it’s a difficult day, but I think it’s important that we give it time.
“The club’s put a statement out. I understand the club is working with the Government to dissect the interpretation of that, so I think for all the questions everybody has, players, fans, staff, we have to give the club time to work through that.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments