Chelsea risk falling into a similar trap to the one Manchester United have been the victims of under the ownership of the Glazers as Nick Candy and Todd Boehly's consortium continues to attempt to complete a takeover of the Blues. The British property tycoon is one of numerous parties who are interested in taking over the club from Roman Abramovich, who was sanctioned by the UK government last week.
Candy has already met with Chelsea chiefs Marina Granovskaia and Bruce Buck over the possible purchase of the football club, according to Goal. The Daily Mail add that the 49-year-old is working on a bid, which includes plans for a £1.5bn rebuild of Stamford Bridge, to be submitted by the end of the week.
Candy has been in discussion with a number of American investors, including Boehly, about the possibility of establishing a consortium to launch a formal bid, which is expected to be in excess of £2bn. Chelsea are the subject of a rival offer from Saudi Media too ahead of a deadline this Friday for offers and UK Prime Minister Boris Johnson's comments on the relations between this country and the Middle East have added fuel to the idea of them gazumping Candy.
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In a statement released ahead of the Blues' tie against Newcastle on Sunday, the British billionaire asserted that he would be willing to provide any short-term funding subject to Government approval. "We welcome the news that the sale of the club will be conducted quickly," said a spokesperson for Candy. "This is a reassuring development for fans after a week of great uncertainty. 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."
Those comments ring some alarm bells and will resonate with fans of United. On the face of it, this would be a selfless gesture that could keep the club afloat and which of course Chelsea fans would appreciate but Candy's means of assembling a bid in addition to the possibility of a loan raises two red flags.
The situation with the Glazers offers a cautionary tale. They bought United in 2005 - a debt-free club until then - via financed loan and have been absent owners amid the club's steep decline while presiding over monopolisation of one of the sport's biggest clubs. Chelsea simply cannot afford to fall into a similar trap whereby the club is financed by loans; the Candy regime would be immediately met with a number of questions about what this means for the long-term financial security of the club.
The next owner must buy the club outright and use United's sharp downfall under the Glazers as a warning. Candy may have Chelsea's best interests at heart but, in a period of severe financial uncertainty, the Blues are not in a position of strength to afford potential suitors to roll the dice on survival.
