Chelsea FC: British property developer Nick Candy “still interested in” buying club despite Roman Abramovich sanctions

The content originally appeared on: CNN

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CNN

British property developer Nick Candy remains interested in buying English Premier League club Chelsea after the UK government sanctioned owner Roman Abramovich on Thursday.

A spokesperson for the 49-year-old did not disclose the amount of a potential bid.

What CAN’T the club do?

Enter into transfer deals for new players or receive money for selling existing players.Issue new contracts to existing players.Sell any new tickets to upcoming games – only season ticket holders can go to games for the foreseeable future.Sell any merchandise – however, any third parties who purchased or produced Club Merchandise prior to Thursday are permitted to sell stock.

“We are examining the details of yesterday’s announcement and we are still interested in making a bid,” said Candy’s spokesperson in a statement to CNN, referring to the new UK government sanctions on Abramovich.

“Clearly this is a time of great uncertainty for all Chelsea fans,” added the statement. “In our view, no one is the owner of a football club – you are the custodian of it for the fans and the community.”

Earlier this month Abramovich announced his intention to sell Chelsea, as it is “in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.”

This came after the Russian oligarch declared he gave “stewardship” of Chelsea over to trustees of the club’s charitable foundation, according to Abramovich in a statement released last week.

What CAN the club do?

Pay allowances and pensions of all employees of the Club, including the wages of Players and coaching staff.Pay reasonable costs of travel to and from Fixtures but “not exceeding the value of GBP20,000 per game per Club team.”Pay reasonable costs necessary for the purposes of the Club hosting Fixtures at its home grounds but “not exceeding the value of GBP500,000 per Fixture per Club Team.”Pay fees, dividends or other allowances to directors of the Club.Pay “reasonable fees” or other costs directly related to ongoing regular maintenance of the Club.Broadcasters may broadcast any Fixtures involving the Club.

But the UK government on Thursday sanctioned the Russian billionaire, freezing his assets and prohibiting transactions with UK individuals and businesses – halting the club’s potential sale.

Chelsea was a granted a special license to continue to fulfil fixtures and carry out football business – including the payment of players and club staff – but certain actions are not permitted, such as buying and selling new players and selling tickets for games beyond those already sold to fans.

The UK government is open to the sale of the Premier League club and would consider an application for a new licence to allow for a sale to take place, a spokesman for Prime Minister Boris Johnson said on Thursday.

“We would have to grant a further license. I think it is fair to say the government is open to the sale of the club, but […] currently, it would require another license and that would require a further conversation with the Treasury,” the spokesman told reporters.

Swiss billionaire Hansjorg Wyss has also expressed interest in buying the club as part of a consortium last week.