Nick Candy wants to ‘represent fans’ on Chelsea board if sale is successful and short-term cash supply | Football news

Property developer Nick Candy has promised to offer Chelsea fans a seat on his board if his bid to buy the Stamford Bridge club is successful.

Sky News already knew that Mr. Candy, 49, would make the proposal a central part of his acquisition of Chelsea, the team he had supported since he was a child.

The London-based businessman is in talks with financiers about entering his bid ahead of this weekend’s offering deadline.

Mr. Candy is also offering to provide short-term capital to Chelsea if the team faces cash difficulties after the punishment of owner Roman Abramovich.

His offer will be subject to strict conditions put in place by the government as part of a license granted last week that allows Chelsea to continue operating.

Last season’s Champions League winners were thrown into turmoil by Russia’s war with Ukraine, when Mr Abramovich initially proposed putting the club in foundation care and then officially putting it up for sale.

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The proposal to give Chelsea fans a seat on the board reflects Mr Candy’s belief that supporters should have a meaningful say in the running of one of the big clubs. best of the world.

His pledge comes as the government prepares to respond to a review of football governance published earlier this year by Tracey Crouch, the former sports minister.

Among Ms Crouch’s key recommendations was a ‘gold stake’ in clubs that would protect important aspects of their heritage.

A spokesperson for Nick Candy told Sky News on Sunday: “We welcome the news that the sale of the club will proceed quickly.

“This is a development that reassures fans after a week of uncertainty.

“Mr Candy is deeply concerned about the future of the club and believes the fans and community are central to the club’s continued success.

“If his bid is successful, Mr Candy will lobby for a fan representative to join the board so supporters become part of the decision-making process.

“If the club needs funds to operate in the short term, Mr. Candy will be happy to help ensure the club has the necessary financial resources, subject to government approval.”

Mr Candy who is interested in buying Chelsea has been revealed by Sky News The spokesman added last weekend they planned to attend the home game against Newcastle at Stamford Bridge on Sunday.

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Potential bidders for Chelsea have continued to grow since the government announced that Mr Abramovich was under sanctions, cutting off the club’s main source of finance for the past two decades.

This weekend, Sky News revealed that Jonathan Goldstein, another London-based real estate executive, has joined the consortium led by LA Dodgers backer Todd Boehly.

Sir Martin Broughton, former chairman of British Airways and Liverpool FC and a lifelong Chelsea fan, is also in talks to enter the auction in partnership with another bidder or head his own consortium. .

Many questions remain about the sale of Chelsea now regarding the price the buyer will have to pay, the destination of the proceeds and any role Mr Abramovich will have in determining the identity of the heir. ownership of the club after almost 20 years. his hands.

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The Russia-born billionaire has valued the Stamford Bridge outfit at £3 billion, with the net proceeds going to a charity set up to benefit victims of the war in Ukraine , but that valuation is now considered unlikely.

Last week, Chelsea sponsors Three UK, the mobile telecommunications network, and Hyundai, the South Korean carmaker, suspended their association with the club and were banned from opening retail stores or selling New match tickets for fans.

License restrictions were relaxed by the government this weekend, meaning they can spend more money completing home matches and receive broadcast income and bonuses.

Bidders have had a few more days to place bids, with a new deadline next Friday.

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Sunday’s game against Newcastle – which is now largely owned by Saudi Arabia’s sovereign wealth fund – promises to be one of the Premier League’s most exciting matches in years, despite being largely for geopolitical reasons rather than football.

Raine, the US commercial bank that runs the Chelsea auction, informed potential bidders on Friday that it and Chelsea have “coordinated with the Department of Digital, Culture, Media and Sport” and UK Government Investment [UKGI] and will continue with the sales process”.

A quick sale is seen as essential if Chelsea are to remain solvent and thus retain the nucleus of a squad that has become one of Europe’s most successful under Mr Abramovich’s ownership.

The government has been clear that none of the proceeds from the takeover can go to Mr. Abramovich.

Bidders were also informed from Raine on Friday that “successful closing of the sale of Chelsea FC will require a special license approved by UKGI, approving both the source and use of the funds”.

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