British billionaire still ‘in the picture’ to buy Chelsea after attending Newcastle game

Chelsea FC fan slams impact of sanctions on fans

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British property tycoon Nick Candy is reportedly still in contention to buy Chelsea from Roman Abramovich. Candy is a Chelsea fan and attended the Blues’ 1-0 win over Newcastle at Stamford Bridge in the Premier League on Sunday.

Raine Group, the American merchant bank overseeing the bidding process for Chelsea, has been instructed to get offers in order by Friday.

Abramovich has had his assets frozen by the UK government, due to his connections to Russian President Vladimir Putin following the invasion of Ukraine.

Chelsea are currently operating under a special licence, which means they cannot sell any tickets or merchandise, buy or sell players or offer new contracts.

Despite the complications caused by Abramovich’s situation, which means the government would have the ultimate say on completion, there is understood to be plenty of interest in buying Chelsea.

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Candy is in talks with financiers about putting together a bid and The Times reports he is still ‘in the picture’, alongside a number of American consortium bids.

Todd Boehly, who part owns baseball team LA Dodgers and basketball side LA Lakers, has put his hat in the ring alongside Swiss billionaire Hansong Wyss.

Meanwhile, the Ricketts family, who own the Chicago Cubs baseball team, and the owner of the New York Jets, Woody Johnson, are also believed to be interested in taking over Chelsea.

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Abramovich is understood to be seeking around £3billion, but due to the government sanctions and potential difficulties in developing Stamford Bridge, bids are believed to be in the region of £2.5bn.

Candy, who made his fortune as a luxury property developer, says he would insist on fan representation on the board if his bid was successful.

“I’ve supported Chelsea since I was the age of four,” he told Sky Sports on Sunday.

“My dad was asked to play for Chelsea. I love Chelsea. I don’t mind where it ends up, even if it’s not with me, as long as it’s in safe hands. 

“One hundred per cent [the fans need to be included in ownership] and they should be involved. Both on the board and economically.”

A spokesperson for Candy later added: “We welcome the news that the sale of the club will be conducted quickly.

“This is a reassuring development for fans after a week of great uncertainty.

“Mr Candy cares hugely about the future of the club and believes that the fans and the community are central to its continued success.

“Should his bid be successful, Mr Candy would advocate for a fan representative to join the board so supporters become part of the decision-making process.

“If the club requires money to operate in the short term, Mr Candy would be happy to help ensure it has the necessary financial resources, subject to government approval.”

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