Big changes on the horizon at Chelsea

Chelsea FC owner Roman Abramovich has decided to put the club up for sale. — AFP Photo  

Paul Kennedy

It’s really not been the best of weeks for Chelsea FC. First beaten in the League Cup final by Liverpool after a penalty shootout, and now hearing the news that their billionaire owner Roman Abramovich is selling the club.

After almost 20 years since buying the West London outfit, Russian Roman has decided to put it up for sale, with an asking price somewhere in the region of US$4 billion.

His decision was reached after growing pressure from the authorities concerning high-net-worth Russians with visible assets in the West, in light of the current situation in Ukraine.

For his part, Abramovich has stated any profit from the sale will be used to help victims of the conflict, which although he certainly can afford, his gesture has been welcomed.

Since he bought Chelsea for $190 million in 2003, no English club has won more trophies than they have.

Their success last month at the Club World Cup was Chelsea’s 19th major piece of silverware during Roman’s reign. They are one of only five clubs in the whole of Europe who have won every possible competition they are eligible to play in.

Opposition fans often taunt Chelsea by singing: “You’ve got no history,” implying that before ‘Mr Moneybags’ decided to invest, Chelsea were pretty rubbish.

And really they are not wrong.

Before he took over, they had won one League title (1954-55), three FA Cups (1969–70, 1996–97, 1999–2000) and two League Cups (1964–65, 1997–98).

Things got a little brighter when Glen Hoddle and Ruud Gullit were managers, but their real success truly came in the Abramovich era.

Some might say that Chelsea bought their triumphs thanks to their owner’s deep pockets, and although there is a large slice of truth in that, I do think Abramovich has been good for the game, particularly the English Premier League.

Yes, they bought the best because they could afford to spend big, but they also raised the bar in the English Premier League to a new high.

Obviously, I hated them, all Liverpool supporters do (and probably everyone else who doesn’t follow Chelsea), but the likes of Didier Drogba, Arjen Robben, and Eden Hazzard to name but a few, were at times a joy to watch.   

Now he’s heading out the door, it’s left me wondering what next for Chelsea?

There’s talk of a consortium led by Swiss billionaire Hansjorg Wyss, possibly interested in buying the club, although for around $1 billion less than the asking price.

Word is, Roman wants a quick sale, so maybe he is willing to come down by a few hundred million dollars to get the deal done.

Whoever does take over will need to spend. That’s the name of the game these days and to be fair to Abramovich, he has backed his Chelsea managers to the hilt.

He was once Russia’s richest man with a net worth in the region of $23.5 billion in 2008. That fortune has no doubt taken a considerable hit with his continued investment in the Blues.

Forbes currently have him as the 142nd richest man in the world with $12.6 billion, almost half of his wealth 14 years ago.

So Chelsea fans are right to be concerned at the moment. Unlikely there will be any interest from the Middle East with investors from that region already owning Newcastle United and Manchester City.

I think it’s fair to say whoever does take over may be a little more frugal that Mr Abramovich, the likes of which we may never see again in the Premier League.