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United States Nick Candy Offers Statement of Intent to Form Consortium to Lodge Chelsea Takeover Bid
Nick Candy has outlined his plans for Chelsea after confirming he was forming a consortium to prepare a formal bid to buy the Club from Roman Abramovich.
The 49-year-old is one of many parties who are actively exploring a deal to buy the Stamford Bridge side, as Abramovich looks to get £3-4 billion for his side which he took over in 2003.
After 19 years, Abramovich put the Club up for sale in the 'best interests of the Club' following Russia's invasion of Ukraine.
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With a deadline of March 15 set for bids to be received, the Raine Group - the U.S. merchant bank representing Chelsea on the sale - have already had many, including Swiss-US backed consortium led by Todd Boehly and Hansjorg Wyss.
Turkish businessman Muhsin Bayrak claims he is in talks with the Blues, while other interest from England, Saudi Arabia and the US has also been shown.
Candy, a British property developer and Chelsea fan, is the latest name to put his hat in the ring and his spokesperson outlined his plans for the Club if he were to takeover.
A bid from Candy is expected to be around £2.5 billion and he plans to rebuild Stamford Bridge as part of his takeover bid.
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If he is to make a bid, it will be done with a consortium/another party, with Candy and his brother, Christian, joint net worth only an estimated £1.5 billion.
"Nick Candy is actively exploring a number of options for a potential bid for Chelsea Football Club," a spokesperson for Candy told the Mail.
"Any bid would be made in conjunction with another party (or consortium) 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."
Three more names were reported to be considering possible bids on Tuesday evening - Joshua Harris (USA), Jamie Reuben (England) and Candy, who has been mentioned above.
Philadelphia 76ers' Managing Partner Joshua Harris
IMAGO / ZUMA Wire
Harris is the first of three fresh names to be linked with a takeover bid, as per the Financial Times.
The 57-year-old is 'exploring a bid' to buy Chelsea from Abramovich and has been weighing up whether to submit an offer - he has not yet lodged one.
He owns a minority stake in Crystal Palace, which he would likely have to sell if he wanted to purchase the European and World champions, and he is the current Managing Partner of the Philadelphia 76ers basketball team.
How much is Joshua Harris worth?
According to Forbes, as of March 8 2022, Harris is worth $5.6 billion.
IMAGO / ZUMA Wire
Candy is the second of three fresh names to be linked with a takeover bid, as per the Mail.
The 49-year-old Chelsea fan is 'preparing a £2.5 billion bid' for Chelsea which includes his plans to rebuild Stamford Bridge. He is claimed to be talking to a 'number of American investors' about forming a consortium to launch a bid.
A spokesperson for Candy said: "Nick Candy is actively exploring a number of options for a potential bid for Chelsea Football Club. Any bid would be made in conjunction with another party (or consortium) 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."
How much is Nick Candy worth?
According to the Mail, as of March 8 2022, Harris and his younger brother Christian share an estimated joint net-worth of £1.5 billion.
IMAGO / PA Images
Reuben is the third of three fresh names to be linked with a takeover bid, as per Bloomberg.
The 34-year-old, like Candy, is a Chelsea fan, however like Harris, his family’s involvement at Newcastle United would need to be looked at should he wish to pursue a bid to buy Chelsea.
Jamie father, David, a billionaire property investor, and David’s brother Simon have a 10 per cent share in Newcastle after a consortium led by Saudi Arabia's PIF (Public Investment Fund) bought the club from Mike Ashley.
The report states that 'Jamie Reuben’s considerations are at an early stage and may not lead to a formal bid'.
How much is Jamie Reuben worth?
According to Bloomberg’s Billionaire’s Index, as of March 8 2022, the brothers - David and Simon - each have a et work of about $7 billion.
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