Property developer Nick Candy weighs up £2.5bn bid for Chelsea – and plans to redevelop Stamford Bridge
Nick Candy, a British property developer, has said he is in talks with a consortium about offering £2.5 billion for Chelsea with a pledge to redevelop Stamford Bridge.
The 49-year-old Chelsea fan told Telegraph Sport "we are looking at what the art of the possible is" when asked about his involvement in a potential deal. He added that he has "spoken to most of the parties" about the prospect of tabling a formal offer.
Candy and his younger brother Christian are both developers, with an estimated joint net worth of £1.5 billion. A spokesperson for Candy had said earlier that he is "actively exploring a number of options". "The club deserves a world-class stadium – and Mr Candy's unique expertise and background in real estate would be a hugely valuable asset to delivering this vision," a statement added.
The brothers’ best-known property developments include London’s One Hyde Park, NoHo Square and the redevelopment of the former Chelsea Barracks. Candy, who is married to former Neighbours actress Holly Valance, previously fundraised for Shaun Bailey’s London mayoral campaign.
Talks are at a significantly less advanced stage than the offer led by American billionaire Todd Boehly, who is now waiting to find out whether Roman Abramovich will accept his bid. The Boehly-led bid, which also involves Swiss billionaire Hansjorg Wyss and one other businessman, so far unnamed, has officially been submitted through the New Yorkbased merchant bank Raine.
Boehly, a part-owner of the LA Dodgers, hoped to jump the queue of interested parties ahead of a March 15 deadline, which is the same date Britain will be able to sanction hundreds of individuals if emergency legislation is passed as scheduled after Russia's invasion of Ukraine. It remains to be seen if that convinces Abramovich, who has faced calls from MPs to be sanctioned, to consider bids earlier.
There have been reports that the Ricketts family, who own the Chicago Cubs, could rival Boehly's bid and that a Saudi-based media company are also trying to gather together a consortium. Both the Ricketts family and the Cubs have not responded to attempts by Telegraph Sport to confirm their interest, while sources in the United Arab Emirates have been unable to gauge how realistic a Saudi bid is.
The Telegraph has also attempted to contact New York Jets owner Woody Johnson, who has been linked with making an offer.
Turkish businessman Muhsin Bayrak has insisted that he has made a bid under £2.5 billion.
