MY ACCOUNT
Roman Abramovich’s ownership of Chelsea was “unsustainable” and a sale could be completed within 10 days, Premier League chief executive Richard Masters said on Thursday.
Abramovich announced on Wednesday he had taken the “incredibly difficult” decision to put the club up for sale and donate the net proceeds to the victims of the war in Ukraine.
In a statement, he said the sale “will not be fast-tracked but will follow due process”, adding he will not be asking for loans to be repaid by the club.
“This has never been about business nor money for me, but about pure passion for the game and club,” he said.
“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the club in this manner. However, I do believe this is in the best interest of the club.”
Abramovich’s decision came amid the threat of sanctions against further Russian businesses and high-profile individuals following the invasion of Ukraine a week ago.
The 55-year-old oligarch has been photographed with Russian president Vladimir Putin in the past, and while it was claimed last week that Abramovich has no involvement in politics, a spokesperson for the Blues’ owner suggested to the Press Association on Monday that he was “trying to help” achieve a peaceful resolution to the conflict.
Masters thinks the record for the quickest sale of a Premier League club could be broken, adding that selling Chelsea was the correct course of action.
“I think the quickest one we have ever done is 10 days, but that’s not to say that record cannot be beaten,” he said at the Financial Times Business of Football Summit in London.
“Normally, it will take a number of weeks, but that will depend on the complexity of the deal really and the number of potential owners. Provided that the information is easily digestible, easily understandable and gives us the right answers, it can be done relatively quickly.
“It is the right decision, the situation has escalated incredibly quickly over the last seven days, and he has come to the right conclusion that it is unsustainable in the current environment.
“It is a welcome decision and obviously for the sake of everyone, including the fans, the sooner the selling process concludes and completes, the sooner everyone will have certainty.”
Masters, who said Premier League broadcast rights in Russia are under review, added that a human rights element could be added to the test determining whether prospective club owners are fit and proper.
“We’ve had quite helpful conversations with Amnesty International about those sorts of things,” he said.
“We’re not ready to say how it will change yet because it should be one test for football: us, the FA and the EFL agreeing on what that test should be, how it is implemented and how it is communicated to fans.”
