Property tycoon Nick Candy is considering a bid for Chelsea, with the redevelopment of Stamford Bridge central to his plans.
The billionaire Chelsea fan is working on a £2.5billion bid, with a further £1.5bn earmarked for the stadium, which has been a major concern for other potential buyers.
Candy has confirmed to Standard Sport his interest, with further developments expected in the coming days.
The 49-year-old wants to assemble a consortium of investors to beat a host of other interested parties that are lining up as Roman Abramovich’s March 15 deadline for official offers looms.
A spokesperson said: “Nick Candy is actively exploring a number of options for a potential bid for Chelsea. Any bid would be made in conjunction with another party and we have serious interest from several international partners.
“Mr Candy has a huge affinity with Chelsea. His father was asked to play for the club and he has been watching matches at Stamford Bridge since the age of four. The club deserves a world-class stadium and infrastructure and Mr Candy’s unique expertise and background in real estate would be a hugely valuable asset to delivering this vision.”
Candy’s determination to redevelop Stamford Bridge could be a major boost to his hopes of convincing Abramovich to accept his bid.
Abramovich is understood to be unconvinced by the US-Swiss consortium of Todd Boehly and Hansjorg Wyss, which has already tabled an official bid. He is said to want to be assured that any buyer will continue the success of the club he bought in 2003 and transformed into one of world football’s super powers. Redeveloping Stamford Bridge, which even Abramovich stepped back from, could be key to that.
With a capacity of just over 40,000, matchday revenue will forever be restricted in comparison to the Premier League’s biggest stadia. The cost of a rebuild has been cited as a reason why Abramovich’s initial ambition of demanding £4bn for Chelsea was baulked at by would-be buyers.
It is believed he will have to accept less than £3bn, which is the region Candy, Boehly-Wyss and other interested parties are prepared to come in at.
Candy is among a host of names confirming interest in the European champions. James Reuben, Josh Harris and a consortium from Saudi Arabia are all among a growing list of emerging contenders as the bidding process enters its final stages.
US bank Raine Group has instructed bidders to place official offers by March 15 — and the increasing interest is good news for Abramovich, who hoped to spark a bidding war when confirming plans to sell last week.
Reuben, who is the son of property billionaire David Reuben and a Chelsea fan, has been described as “exploring” a bid. He is also a part-owner in Newcastle following their Saudi takeover earlier this season, which would likely mean him giving up any interest there to pursue a buyout.
Turkish businessman Muhsin Bayrak has also claimed he is making progress on his attempt to take control and says further talks are planned for tomorrow.
“We have reached a certain stage,” he told Oda TV. “Our law and finance department will start talks with theirs in London on Thursday.
“People are talking about it, we made some progress in the talks, and the world believes we have a 90 per cent chance of completing the deal. Abramovich thinks the same.”
Harris, who has a minority stake in Crystal Palace and is managing owner of the Philadelphia 76ers basketball team, is said to be considering a bid. Woody Johnson, owner of the New York Jets, has also been linked.
Boehly and Wyss have led the way in the race to buy Chelsea since even before Abramovich’s announcement.
And the tabling of their bid for an amount believed to be below £3bn underlines their belief they can secure the club for well short the Russian’s asking price, which Wyss has already publicly stated is too high.
