British businessman Nick Candy has said he has the funding in place to launch a takeover bid for Premier League club Chelsea and is in talks over the final composition of his bid consortium.
Candy, a billionaire property developer, said in an interview on Monday that he has held discussions with potential partners including British businessman Martin Broughton about teaming up to bid for Chelsea.
The two men, both Chelsea fans, are among a growing list of suitors circling the club, the sale of which has been complicated by the sanctioning of its Russian owner Roman Abramovich last week. Candy said he expects the club to be sold within two months.
“This deal will be done way before the start of the new season,” Candy said. He said he wouldn’t be “the backer with the largest cheque” in the consortium, but he was the person who could bring everyone together for a successful bid.
Broughton is a former chairman of Liverpool who helped pave the way for the club’s takeover by current owners Fenway Sports Group in 2010.
Chelsea are one of the biggest and most successful football clubs in the world. The reigning world and European champions have been England's most decorated team over the 19 years under Abramovich, who has spent lavishly on players, coaches, and the Academy to transform the club.
However, soon after Russia's invasion of Ukraine, Abramovich initially attempted to hand control of Chelsea over to the club's charitable trust, before announcing he was putting the club up for sale. Since then, Abramovich’s alleged ties to Russian President Vladimir Putin’s regime have prompted the UK government to place far-reaching restrictions on the running of the club, creating uncertainty over its sale.
Chelsea's major trophies during the Abramovich era
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1) League Cup, February 2005: Chelsea won their first trophy under Roman Abramovich by defeating Liverpool 3-2 after extra time in the 2003 League Cup final. John Arne Riise scored early for Liverpool before a Steven Gerrard own goal sent the game into extra time. Didier Drogba and Mateja Kezman made it 3-1 to Chelsea and Antonio Nunez pulled one back for Liverpool. The Abramovich era had begun. AFP -
2) Premier League, 2004/05: Jose Mourinho lived up to his self-appointed 'Special One' tag by guiding Chelsea to their first Premier League title and first top-flight title in 50 years. The Blues marched away with the league, finishing 12 points clear and losing just once. AFP -
3) Premier League 2005/06: Back-to-back titles for the Blues who were once again head and shoulders above their rivals, finishing eight points ahead of runners-up Manchester United. Getty Images -
4) League Cup, February 2007: Trophy No 4 was delivered at the Millennium Stadium in Cardiff, where Chelsea beat Arsenal 2-1 in the final. Theo Walcott put the Gunners in front but a Drogba double ensured the Blues emerged victorious. AFP -
5) FA Cup, May 2007: Chelsea missed out on the league title but finished the season with the Cup double, beating Manchester United 1-0 after extra time, courtesy of another Drogba goal. AFP -
6) FA Cup, May 2009: Interim manager Guus Hiddink left his mark on Chelsea by guiding the club to an FA Cup triumph. After falling behind to a first-minute Louis Saha goal, Chelsea fought back through Drogba and Frank Lampard to defeat Everton 2-1. AFP -
7) Premier League, 2009/2010: After three years without a league title, Chelsea came roaring back to win the 2010 trophy. Following the dogged and pragmatic style under Mourinho, Carlo Ancelotti got the team playing with flair as the Blues scored 103 goals and won the title by one point ahead of Manchester United. AFP -
8) FA Cup, May 2010: Chelsea successfully defended the FA Cup with a 1-0 win over Portsmouth. No prizes for guessing the matchwinner as Drogba struck to secure the double. AFP -
9) FA Cup, May 2012: After the ill-fated spell of Andre Villas-Boas, former Chelsea midfielder Roberto Di Matteo came in to steady the ship. Steady the ship he did as Chelsea beat Liverpool 2-1 in the FA Cup final. Ramires and Drogba scored Chelsea's goals before Andy Carroll pulled one back for Liverpool. AFP -
10) Uefa Champions League, May 2012: The 10th trophy under Abramovich and the one the Russian craved above all others. Chelsea were crowned European champions in improbable style, riding their luck to defeat Bayern Munich on penalties inside the German club's own stadium. Drogba's header levelled five minutes after Thomas Muller had put Bayern in the lead to force extra time, where Arjen Robben then missed a penalty. It was then left to the main man Drogba to seal it from the penalty spot. AFP -
11) Uefa Europa League, May 2013: A disappointing Champions League campaign saw Chelsea drop into the Europa League, but the Blues made their superiority count in Europe's second-tier tournament. Fernando Torres gave Chelsea the lead in the final, before Oscar Cardozo equalised from the spot. Branislav Ivanovic secured the trophy with the winner in injury time. AFP -
12) League Cup, March 2015: The return of Mourinho brought with it more domestic success, starting with a third League Cup under Abramovich. Chelsea claimed a 2-0 victory over Tottenham in the final, John Terry and Diego Costa with the goals. AFP -
13) Premier League, 2014/15: Mourinho secured a double as Chelsea won their first league title in five years. It was a convincing season for the Blues, who finished eight points clear of runners-up Manchester City. AFP -
14) Premier League, 2016/17: Antonio Conte announced himself to English football with a remarkable debut season as Chelsea manager, guiding the club to the title and a then record 30 league wins. The Blues were seven points clear of second-placed Tottenham. AFP -
15) FA Cup, May 2018: Two seasons, two trophies for Conte as Chelsea defeated Manchester United 1-0 in the FA Cup final, Eden Hazard scoring the only goal of the game from the penalty spot. It proved Conte's last game in charge. AFP -
16) Uefa Europa League, 2018/19: Maurizio Sarri's brief time in charge is not remembered all that fondly but the Italian did deliver silverware with an emphatic 4-1 win over rivals Arsenal in the final after goals from Olivier Giroud, Pedro and a Hazard double. Alex Iwobi grabbed a consolation for Arsenal. AFP -
17) Uefa Champions League, May 2021: Thomas Tuchel wrote his name into Chelsea folklore by guiding the club to the Champions League title just five months after taking charge. Kai Havertz scored the only goal of the game against a much-favoured Manchester City side. AFP -
18) Fifa Club World Cup, February 2022: As part of the privilege of being European champions, Chelsea competed in the Club World Cup in Abu Dhabi last month. The Blues lived up to their billing, defeating Palmeiras 2-1 after extra time in the final. Romelu Lukaku put Chelsea ahead only for Raphael Veiga to level from the spot. Havertz then converted a penalty deep in extra time to clinch it. If being crowned world champions proves to be the final achievement of Abramovich's era, it is a fitting tribute. AFP
Candy said three parties will determine the future of Chelsea: the bidder, Abramovich, and the UK government. He said Abramovich had “been sweet and kind over the years,” allowing his family to hold a memorial service for his father at Chelsea’s Stamford Bridge stadium and scatter some of his ashes on the pitch.
Chelsea fans would have a role in the running of the club if his consortium wins, Candy said.
As a property developer, Candy would be expected to play an important role in any redevelopment of Stamford Bridge in the event of a successful takeover. In 2019, he said he was considering a bid for Capital & Counties, a real estate group that owns sites in west London, including in the Earl’s Court area close to Chelsea. Ultimately, he didn’t make a bid.
