Roman Abramovich could sell Chelsea within 10 days, says Premier League CEO Richard Masters
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Published 03/03/2022 at 17:36 GMT
Chelsea Football Club is up for sale, and current owner Roman Abramovich could find a buyer within the next 10 days according to Premier League chief executive Richard Masters, who was speaking at the Financial Times Business of Football Summit in London. Abramovich is looking to sell after his position became “unsustainable”.
Roman Abramovich, Owner of Chelsea and Cesar Azpilicueta of Chelsea pose with the FIFA Club World Cup trophy following victory in the FIFA Club World Cup
Image credit: Getty Images
Roman Abramovich’s sale of Chelsea could be completed within 10 days according to Premier League chief executive Richard Masters, who admitted the Russian’s position at the club had become “unsustainable”.
After 19 years in charge, Abramovich is looking to sell Chelsea and went public with his intentions on Wednesday evening.
Abramovich’s ownership has come under scrutiny amid Russia’s invasion of Ukraine, with calls for him to be sanctioned by the UK government not yet forthcoming.
With potential buyers interested, including Swiss billionaire Hansjorg Wyss, Masters said 10 days was a realistic timeline for Abramovich to agree a deal.
“I think the quickest one we have ever done is 10 days but that's not to say that that record cannot be beaten,” Masters told 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.”
Prospective owners must pass the Premier League’s Owners’ and Directors’ Test.
Masters added: “Provided that the information is easily digestible, easily understandable and gives us the right answers, it can be done relatively quickly.”
Abramovich’s decision to sell was welcomed by Masters, with pressure having grown on the Russian oligarch over the past week.
“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,” Masters said.
“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.”
Numerous sanctions have been handed out to Russian athletes and teams across the sporting spectrum.
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Russian football teams have been thrown out of FIFA and UEFA competitions until further notice, while Russian and Belarussian athletes are .
Asked about the sanctions and possible changes, Masters said: “I'm not a politician but the one thing that could affect it is [Vladimir] Putin somehow gets taken out of his role and replaced by somebody else.
“That would get everybody to a different place. While there's a war going on it's unsustainable and sport and Russia can't mix.”
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