That doesn't make sense. There isn't a stadium in Earls Court to play in. He'd have to build a stadium to move the club into temporarily to then redevelop a stadium. Sounds barmy.
I have a little understanding of the London property market and their are a few things you need to consider here:
1) The whole EC project has been run disastrously. So much so that the council are in the process of taking it back via a CPO. This is because Capco (the oweners) haven't been able to make it financially viable to build another residential flat mega project on the land owing to how many are already in and around the area. For instance go to Battersea, Nine Elms and Ealing to see how empty they are; this is also beforeyou go to places like Croydon. The international investors have already dried up also.
https://www.egi.co.uk/news/earls-court-heats-up-with-councils-650m-acquisition-plan/
2) The problem for the council, is that they don't have the upfront costs to do this. They need an anchor tenant and/or a developer to help them out with funding and making the site viable (this is where Candy will come in.)
3) If Candy can get hold of Chelsea and agree with the CPO to switch their lease of the pitch from SB to EC (big asks admittedly; although possible) then he could partner with the council to direct funding to the project through his own companies.
4) At that point, the EC project could start to progress with it reverting, principally, back to a leisure and entertainment site but this time with a stadium. Rest of the site will then be used as a mixture of commercial/residential (although with a good dose of affordable housing to keep the council happy.) That way, Chelsea get to stay at SB whilst building their new ground. Think Arsenal/Leicester rather than Spurs as the sites are far enough apart.
5) Candy can then develop the SB site once Chelsea move into the EC site. A much more desirable site, more akin to the Chelsea Barracks and No.1 Hyde Park which he is already a developer of.
Everybody needs to remember Candy is a very influential Tory donor. He can get things agreed much more easily than other developers because of his connections within Government. Additionally, if he is able to get this through he solves Chelsea's stadium problems with a much reduced cost of developing (EC is already cleared and ready to be developed and doesn't have the same permits/requirements as SB; digging down/building walkways out over train lines/only having one exit (as EC has multiple.)
As I am writing this, I am more and more convinced that Candy will become the owner as he has the political influence in the UK to get the developments/negotiate a good deal at EC, while this sanctioning of RA also plays into his hands.