Friday, May 20, 2022

Chelsea is expecting to receive its first official bid by the end of this week

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Nick Candy, a British property developer, is preparing a 2.5-billion-pound offer to acquire Chelsea from Roman Abramovich, which is due by the end of the week.

About the Official Offer

Last week, Abramovich put the team up for sale, and Candy is in talks with American investors to form a consortium that will make an official bid for the club. He now values the club at £3 billion, but it is claimed that he wants prospective purchasers to show that they have a strategy in place to keep the club prosperous.

Given the existing circumstances, Candy’s bid of around 2.5 billion dollars would be considered credible. Abramovich wants to sell the club as soon as possible to avoid being sanctioned by the British government, which may happen as soon as next week. Nick Candy, a lifetime Chelsea supporter, is poised to invest in the Stamford Bridge reconstruction that Abramovich has been unable to complete.

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Chelsea was permitted to build a 60,000-seat stadium in 2017, but the project was halted after the government refused to extend Abramovich’s visa after the Salisbury poisonings. Candy is ready to make an official offer for the club, according to a spokeswoman for the billionaire real estate entrepreneur.

The spokesperson said: “Nick Candy is actively exploring several 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.”

Other candidates to buy Chelsea

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A partnership led by Todd Boehly and Hansjorg Wyss has made an initial offer to Abramovich, and Turkish investor Muhsin Bayrak said on Tuesday that he will meet with Abramovich’s representatives on Thursday.

Candy is expected to make the first official offer to acquire Chelsea by the end of this week, as the club’s owner weighs his choices.

Read: Roman Abramovich sanctioned by UK Parliament: Here’s how Chelsea is affected by the decision

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