Abramovich has been forced out of Chelsea – 3 other premier League clubs in similar situation – UK government to sanction 3 other premier League clubs

 

The oligarch has been forced to given up control of his club because of ties to the Kremlin and other clubs are now under political scrutiny

 

Russia’s invasion of Ukraine has shone a spotlight on international funding in the United Kingdom, with sport a particularly visible and prominent vehicle of investment.

 

Oligarchs and wealthy Russians close to Vladimir Putin have been sanctioned by the UK government and the ownership of Chelsea made Roman Abramovich the highest-profile case.

 

With assets frozen, the club’s existence was under threat and only a special licence allowed the men’s and women’s teams to continue playing.

 

However, we are now moving towards the final stages of a takeover, which is being overseen by Raine Group, and there are at least four bidders in the mix.

Of course, Abramovich, who has owned Chelsea since 2003, has been blocked from benefiting financially from the sale.

 

The billionaire faced sporadic criticism about his links to the Kremlin during almost two decades at Stamford Bridge, but was still free to invest as much money as he pleased in Chelsea, who won five Premier League titles and two Champions Leagues during his stewardship.

 

However, the Premier League has now come under pressure to expand its criteria for assessing prospective owners, particularly in relation to human rights.

 

“We’re looking to see if more tests need to be added, if we need to be more transparent and whether those decisions should be approved by an independent body,” Premier League chief executive Richard Masters said at the recent Financial Times Business of Sport Summit.

 

While there has always been scepticism surrounding the motives and practices of several American investors, the biggest political and moral objections have been made in relation to Middle Eastern involvement.

 

For example, Amnesty International renewed calls for a human rights-compliant owners’ and directors’ test following the takeover of Newcastle United by Saudi Arabia’s Public Investment Fund.

 

Its chairman, Crown Prince Mohammed bin Salman, has been accused of presiding over a regime that has led a coalition in the long-running armed conflict in Yemen, as well as instigating a major human rights crackdown.

 

Other Gulf states have invested heavily in sport, including 2022 World Cup hosts Qatar and the United Arab Emirates, which have both been condemned for their human rights records.

 

Manchester City owner and UAE deputy prime minister Sheikh Mansour has spent more than £1 billion ($1.3bn) turning the club into one of the most successful in the world.

 

However, Labour MP Chris Bryant, chair of the All-Party Parliamentary Group on Russia, questioned if he was a “fit and proper person to be owning a football club”.

 

Despite criticism, the UAE has also fostered close ties with the UK, which makes any potential intervention difficult.

 

Indeed, in September, the UAE announced a £10bn investment partnership with the UK government on technology, infrastructure, and energy transition.

 

The British government actively encourages investment from the Middle East – it has done for a long time,” Geopolitical Economy of Sport expert Professor Simon Chadwick tells GOAL.

 

“In terms of business and lucrative sources of revenue, we know that the likes of Saudi Arabia and others spend lots of money on, for instance, weapons.