Chelsea have been a real powerhouse in football. At the top of the EPL, or in the very least always near the top-ranks, the Blues have been a known name across the world of sports. But apart from the stellar football they have been able to demonstrate, another noteworthy feature of the team is that they are owned to one of the most popular Russian oligarchs, Roman Abramovich. Now, Mr. Abramovich may be seeking to sell the team that has long been associated to his name and vice versa.
An end of an Era with Abramovich Leaving Chelsea
It hasn’t been confirmed yet, but rumors have been swirling. Russia’s most famous and benevolent oligarch, Roman Abramovich, may be selling Chelsea, his “beloved club”. Whether this is true or not, we won’t wait long to see. The rumored sell-off deal is estimated at $5.5 billion, which is quite the sum. The sources, though, are in local Russian newspapers, which makes it difficult to verify those.
Conversely, there have been opposing rumors, saying that Mr. Abramovich has no intention whatsoever to sell his team, although yet another report from Bloomberg talks about Mr. Abramovich’s decision to skirt one of the world’s financial centers in anticipation of American sanctions, which let’s face it – have been hurting all over.
The geopolitical bickering, which is a little more than that if you are an average political wonk, has been quite severe and it has affected serious industries, including that of entertainment and sport.
Mr. Abramovich had already received a bid over the summer, rumors continued, for the total of $3.7 billion. Meanwhile, he is caught in a re-application process for a UK visa. Even though he has been nothing but a benevolent investor, Mr. Abramovich’s origins can be held against him. With the coldsnap between the United Kingdom, caught in woes of its own, and Russia’s alleged attack on the country’s home turf, matters have become overly-complicated for the little man and especially for high-profile businessmen such as Mr. Abramovich.
Tapping into Overseas Potential and Hedging against Adversity
Mr. Abramovich, though is no fool. He realizes that he has been exposed to US sanctions which will cut deep into his business. To counterweight the dangers, he has been bringing US-based bankers to advise him how to sell his assets so that he can avoid being hit from the oncoming reams of legislator action.
However, once again, these are just rumors, even though local media in the UK have also been covering the story in all seriousness. As it turns out, football has been caught between a rock and a hard place and some notable clubs and owners are coming under fire.
This will not sit well with fans who just want to enjoy the game itself. However, such are the workings of the world that at times like these, our beloved past-time is getting hurt.
Even then, the sale of Chelsea shouldn’t be tantamount to anything adverse for the team. And yet, there’s the lingering, persisting feeling that something is not right. And Mr. Abramovich just won’t talk about it.