Chelsea news: Nick Candy's desire to revamp Stamford Bridge could boost chances of takeover
- Planet Sport writer
- 11 March 2022
Property tycoon Nick Candy has emerged as a frontrunner to takeover Chelsea following Roman Abramovich's sanctions.
The government announced on Thursday morning that Russian-Israeli billionaire, Roman Abramovich, was joining the list of sanctioned individuals in the UK.
As a result of such sanctions, Chelsea are facing econimical turmoil without their owner's financial backing.
A sporting license was granted to the London-based club to help them continue their sporting processes, but ticket sales, merchandise and player contract renewals have been barred to stop Abramovich profiting from the club.
It was first believed that the sanctions would also stop Abramovich from selling the club, but the UK government have now confirmed that they'd allow a sale as long as Abramovich doesn't profit.
Nick Candy, a 49-year-old property tycoon, showed interest in buying the European champions earlier this month when Abramovich announced he was selling, and it seems he is still interested despite the recent sanctions.
A spokesperson for Candy confirmed his continued interest in Chelsea:
"We are examining the details of yesterday's announcement and we are still interested in making a bid.
"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."
But Candy isn't alone in his interest of buying the club, with a host of US investors still in the running including LA Dodgers part-owner Todd Boehly and Chicago Cubs owner Tom Ricketts.
Nick Candy is still pursuing his bid to buy Chelsea and is planning to attend Sunday's game against Newcastle at Stamford Bridge. pic.twitter.com/7H5pgeBEnS
— Sky Sports News (@SkySportsNews) March 11, 2022
But due to the circumstances around Chelsea's sale, it's likely that Prime Minister Boris Johnson and the Premier League will work closely with any investors looking to complete a deal.
Candy's status and credentials in the UK are likely to give him the upper edge.
He has also shown an early interest in revamping Stamford Bridge should he takeover the club, and it is understood that his property nous will favour him in Downing Street and Treasury corridors.
Candy's stadium renovations would include improved hotel offering around Stamford Bridge, as well as new conferencing facilities - improvements that analysts believe could boost Chelsea's commercial revenues by up to 25 per cent per annum.
With Chelsea's shirt sponsors Three pulling out of their deal with the club yesterday, they are in need of economic stability, and Candy has emerged as the favourite to become the new owner of the Blues.
He's expected to attend the club's Premier League clash with Newcastle on the weekend as he inches closer to a takeover.
