Nick Candy has been named as a potential buyer of Chelsea Football Club after Roman Abramovich put the club up for sale.
Abramovich, a Russian oligarch who denies close ties to Vladimir Putin, is looking to move his money out of the UK amid the ongoing backlash against Russia’s invasion of Ukraine, which has seen a clamp down on Russian money particularly in London.
A number of parties have been linked with a bid for Chelsea, including the Swiss billionaire Hansjorg Wyss, LA Dodgers’ part-owner Todd Boehly, New York Jets owner and pharmaceutical heir Woody Johnson, and Ineos owner Jim Ratcliffe.
And property mogul Candy is now assembling a bid worth £2.5bn to buy Chelsea, according to a report.
The Daily Mail suggest that the elder Candy brother is attempting to form a consortium to buy the club, who he supports. The bid would include plans to redevelop Stamford Bridge.
Who is Nick Candy?
Alongside brother Christian, Candy formed property development company Candy & Candy in 1999. The firm has since been involved in a number of high-profile developments in London, including luxury residential and retail complex One Hyde Park in Knightsbridge.
Nick Candy took over sole ownership of the siblings’ business, renamed Candy Property, in 2018 and has diversified his portfolio through investment arm Candy Ventures. According to Celebrity Net Worth, he is worth around £800m.
He is married to Australian actress and singer Holly Valance, who first shot to fame playing Felicity Scully in the soap Neighbours.
In an apparent breach of coronavirus regulations, a photo showing the billionaire at a party in December 2020 with then London mayoral candidate Shaun Bailey emerged in December of last year. Candy was reportedly a major fundraiser for Conservative candidate Bailey’s campaign.
The 49-year-old’s experience in property development would perhaps appeal to other potential consortium investors given the desire to expand and improve Stamford Bridge.
Planning permission to increase the stadium’s capacity to 60,000 was granted in 2015 but plans stalled after Abramovich’s visa renewal was blocked, and the permission has since expired.
