A bid of over £2 billion has been submitted to The Raine Group LLC by Nick Candy for the acquisition of Chelsea Football Club.
Led by London-born businessman and lifelong Chelsea fan Nick Candy, The Blue Football Consortium comprises a world-class group of global investors across four major continents, representative of Chelsea’s global brand and huge loyal fan base across the world.
Mr Candy believes that the future ownership of the club should not be held by one country or by one rich family, but that every continent in the world should have a stake so that Chelsea fans globally can be involved in the future stewardship of the club.
The consortium comprises high-net-worth backers in the UK, Europe, USA and South Korea – including Hana Financial Group and C&P Sports Group, as well as significant investors from Silicon Valley and tech billionaires that own other shareholdings in sports teams in the USA. Former professional footballer and much-loved Chelsea player Gianluca Vialli is also part of the consortium.
The group brings access to immediate capital and an exciting new vision to change football ownership forever, putting fans at the heart of decision-making. It will also develop a new stadium worthy of the global status of the club.
The bid’s highly experienced advisory team includes leading sports boutique Tifosy Capital & Advisory who specialise in European professional football, global law firm Squire Patton Boggs, and global accounting firm Ernst & Young.
Mr Candy described the bid as “a once-in-a-lifetime opportunity to give football back to the fans and put them at the heart of the operations and strategy of a leading global football club”.
Read the statement below...
London: Friday 18th March 2022 – British businessman and lifelong Chelesa fan Nick Candy has submitted a bid of over £2 billion to acquire Chelsea Football Club with a world-class consortium of global investors, representative of the club’s global status and fan base.
The Blue Football Consortium brings together a wealth of global sports, technology, strategic planning, real estate, financial and management expertise, access to capital and global resources to ensure that Chelsea can compete on the world stage for years to come.
With global investors including South Korea’s Hana Financial Group and C&P Sports Group, Mr Candy’s consortium composition matches his vision for the club: to combine the global outlook required to compete in a global game, whilst ensuring the values, heritage and legacy of this highly respected club are preserved for future generations.
Mr Candy believes the proposed offer provides the ability to transfer stewardship of Chelsea seamlessly and efficiently, at an attractive valuation, to a committed and credible group with considerable global resources to continue the development of the club which has been so successful since 2003.
The group will be visible and responsible shareholders and through Mr Candy in particular, the consortium will have a truly local, on-the-ground presence and an inherent understanding of the club’s rich heritage from a supporter with a lifelong affinity to the club.
Nick Candy commented:
“Chelsea is one of the most iconic and successful professional football clubs in the world, with a rich heritage, global following, and a highly valuable brand. Football clubs are vitally important community and cultural assets, and this is a once-in-a-lifetime opportunity to give football back to the fans and put them at the heart of the operations and strategy of a leading global football club. I believe Chelsea has all of the fundamentals to become the most valuable and respected sports club in the world and a force for the greater good in everything it does.”
Club stewardship over club ownership
The founding principle of the Blue Football consortium is that there are no true owners in professional football, only temporary custodians, and it is imperative that the concerns and views of supporters, who are the constant presence, are front and centre of management priorities. As the new custodians of Chelsea, this consortium can further develop the club but also seek to preserve the history, legacy and culture and that has been built at Chelsea to the great benefit of English football and the city of London.
Best practice reform for English football
The Blue Football consortium will leverage Chelsea Football Club’s reach and influence to promote English football reform and introduce measures which protect fans and clubs – as the pillars of local communities – from unfit ownership.
Under this consortium’s leadership, Chelsea will set the gold standard for management of a community linked professional football club. In doing so, it will be guided by the best practice recommendations for improving governance, ownership and financial sustainability of football clubs as set out in the independent Fan-Led Review into Football Governance by Tracy Crouch MP, and work to promote community involvement and grass roots infrastructure.
New era of fan involvement in Premier League clubs
As part of its commitment to fan-centre stewardship, the consortium will:
Provide an opportunity for fans to acquire a share of the economic and voting rights in the club.
Forgive the outstanding balance of the loan from the club to Chelsea Pitch Owners plc, so that Stamford Bridge is secured by and for Chelsea’s supporters.
Grant a “Golden Share” to Chelsea supporters to protect key items of club heritage.
Create an advisory board of fan representatives to engage in regular constructive dialogue with supporters on issues of supporter interest including fair ticketing, stadium development, and strategic projects.
Guarantee that Chelsea will not exit any existing sporting structures without the engagement of key stakeholders, including fans at the forefront.
Continued investment in key assets and social impact
This leadership will ensure continued financial support for the highly successful Chelsea’s women’s team and Chelsea Academy, and for player welfare including mental health and further education opportunities. It is also committed to continuing and building on the legacy of the Chelsea’s Foundations outstanding community work and will drive meaningful social impact.
New world-class stadium
A new world-class stadium will be delivered at Stamford Bridge that will reimagine the spectator experience, transform the revenue profile of the club, and set a new benchmark in stadium design worthy of the Chelsea’s globally celebrated reputation, whilst creating a major new landmark for London.
By increasing capacity and stadium utilisation at Stamford Bridge, this will ensure more fans can support the club in the stadium at affordable prices and provide wider access and options for premium seating and hospitality. As an ownership group with both international and London real estate expertise, Mr Candy’s consortium is well placed to progress and fund this landmark development and leverage its experience of successful large-scale real estate projects to add significant value.
