John Terry wants to buy Chelsea after players ‘lost faith’ in disastrous NFT scheme

After struggling in one business venture, John Terry is now leading a consortium joining the race to buy Chelsea.

With 713 appearances for the London club, Terry is an icon of Chelsea. Their fans adore him for the on-pitch passion and success he brought to the club as captain. He won almost everything there is to win in club football; five Premier Leagues, five FA Cups, a Champions League and a Europa League.

However, since hanging up his boots, John Terry has been chiefly out of the news.

He was assistant manager to Dean Smith at Aston Villa and currently works as an advisor to Chelsea’s academy. The club legend finds himself back in the headlines as he leads a group attempting to buy a stake in his beloved football club.

Is John Terry buying Chelsea?

Terry and former Chelsea star Claire Rafferty lead the consortium called ‘True Blue.’ They will reportedly bid £250 million for a 10% stake in Chelsea. Businessman and Conservative party donor David Meller is the financial backer of the group, according to Goal.

Following Roman Abramovich’s forced sale of the club, True Blue’s bid will surprise many and provide a unique alternative to the billionaires vying to take Chelsea over.

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The group plans to sell ‘Fan tokens’ of their ownership to supporters, players and staff in exchange for the right to vote on club matters. Said tokens would cost upwards of £100. The news of John Terry buying Chelsea is just what the former defender needs after a hostile reception to his NFTs.

John Terry’s NFTs plummet

The former England international was recently making waves on social media by joining the world of non-fungible tokens (NFTs).

NFTs are unique digital assets that can be bought and sold using cryptocurrencies, which are stored on the blockchain. Their prices can be very volatile, as they are not a regulated financial sector.

John Terry found that out to his cost.

He invested in ‘Ape Kids Football Club’ NFTS. These featured cartoon apes are designed to look like footballers, complete with kits and trophies.

Unfortunately, they did not take off. After initial hype on social media by Terry, his NFTs plummeted from $656 at the start of February to $65 on 18th March.

As a result, investors lost faith, reported the Mirror. These included former teammates Tammy Abraham and Ashley Cole, who deleted their posts about the scheme.

Terry’s NFTs even landed him in trouble with the Premier League – he had to remove their trophy from some of his tokens due to copyright laws.

John Terry will hope that his next potential business venture is more successful.

Image credit: Getty