Premier League
Roman Abramovich And Why He Wants To Sell Chelsea
It’s been a great start for Chelsea under their new coach Maurizio Sarri.
They’ve gone unbeaten and it’s no surprise that it’s coincided with Sarri getting the best out of Hazard. After he chose to stay at the club after a long “will he, won’t he” saga about a possible move to Real Madrid. Abramovich has got this club running smoothly as ever.
Abramovich Contributions
But off the pitch, things are from okay. Chelsea’s Russian owner Roman Abramovich is reportedly looking to sell the club. Ever since buying Chelsea in 2003 at 140 million pounds, he has transformed the club into one of England’s most successful clubs.
He has delivered 5 Premier League titles, 5 FA Cups, 3 League Cups, 1 Europa League and the cherry on top a Champions League Trophy. 15 titles in 15 years. In total, he has spent close to 1.5 billion pounds.
While Abramovich has kept a low profile in the press, he hasn’t given an interview in the UK for over 10 years. He has been a regular fixture at Stamford Bridge. He has immersed himself in the minutiae of the club’s on-pitch performances and off pitch business.
A geopolitical scandal involving a nerve agent and an assassination attempt and Russian President Vladimir Putin. This has seen him effectively become a persona non grata in the UK.
He has taken up a citizenship in Israel. And is looking to offload Chelsea for 3 billion pounds, which would be a world record price for a sports team.
So what went wrong and what does this mean for the club’s future?
Russian Scandal
Russia’s relationship with the West is at it’s lowest point since the cold war. Putin’s increasing authoritarianism, Russia’s invasion of Ukraine, the annexation of Crimea and the alleged meddling in the 2016 US presidential elections. All this has brought in a huge raft of international sanctions focused on the super-rich. Abramovich had largely escaped these sanctions.
But then came the attempted Assassinations of former Russian spy Sergei Skripal and his daughter Yulia in the English town of Salsbury. It was later concluded that a Soviet Era nerve agent was used. It was the first time a chemical weapon had been used on European soil since the second world war. Two more people were poisoned by a perfume bottle thought to be used in the Skripal incident.
Russia denied the attack. But the British government maintained they have proof that it was Moscow. Eventually, two suspects were named. Both were suspected members of the Russian military intelligence or the GRU.
The expulsion of dozen of Russian diplomats were imminent. Additionally, the British government made it known that its ministers and Royal Family would not attend the World Cup in Russia.
Visa Issues
Previously the British Government had been resistant to move against Russian Oligarchs and people with close ties to Putin. Such as Abramovich and Alisher Usmanov who recently sold his Arsenal shares. But the Skripal incident changed everything.
The British Government announced it was reviewing all investor Visas for Russian Citizens. In May the government delayed renewing Abramovich’s tier one investor visa. Making it impossible for Abramovich to work in the country. Abramovich promptly withdrew his application.
In September Abramovich abruptly cancelled plans to live in Switzerland. A letter from the Swiss police detailed the reasons why he should be denied a residency. A Swiss court declared this later. This letter could, in fact, be made public. The letter recommended that Abramovich is denied because there were suspicions that he was involved in money laundering and presumed contact with criminal organizations. They also have reason to believe part of his fortune was at least of illegal origin.
As a Russian Jew, he had an immediate right to citizenship under Israel’s law of return. When he arrived at Tel Aviv. He got an Israeli passport.
Affect on the club
While he is not banned to enter the UK, he is not allowed to work there. And the Club felt the consequences almost immediately.
The club announced it had pulled out from its long-planned 1 billion pounds new stadium. The Club’s transfer policy has also changed. They’ve become more stingy in the transfer market, and are not willing to go head to head with other European heavyweights.
He has reportedly hired a US bank to broker Chelsea’s sale. Chelsea is one of the most recognizable clubs and brands in world football. Thankfully the lack of certainty over the clubs ownership is having little to no effect yet.
As ever the question remains as to who Abramovich will sell the club too?
Photo credit to Donald Trump via Flickr
