PREMIER LEAGUE CHIEF executive Richard Masters has welcomed Roman Abramovich’s decision to put Chelsea up for sale and insisted a deal could be concluded “relatively quickly.”
The Russian-Israeli billionaire has owned the Blues since 2003 and helped the club win 19 major trophies but his glittering reign at Stamford Bridge is close to an end.
Abramovich announced on Wednesday he had made the “incredibly difficult decision” to put Chelsea up for sale amid talk he could face sanctions from the UK Government given his proximity to the Russian state.
Speaking at the Financial Times Business of Football Summit, Masters said: “I think the situation has escalated incredibly quickly over the last seven days and he’s come to the right conclusion.
“It’s unsustainable in the current environment. It’s a welcome decision and obviously, for the sake of everybody, including the fans, as soon as the sale process concludes everyone has certainty.”
Asked what would happen regarding the sale if Abramovich was sanctioned by the UK, Masters told the audience in London: “I don’t think that will work.”
The current Chelsea owner vowed not to rush the sale and pledged to donate any net proceeds to help victims of the war in Ukraine. The statement did not specify that the funds would help solely Ukranian victims.
Swiss billionaire Hansjorg Wyss and American investor Todd Boehly are understood to be two of the parties joining forces in preparation for a bid.
Masters added: “I think the quickest (sale) we have ever done is 10 days, that’s not to say that record can’t be beaten but normally it takes a number of weeks.
“It all depends on the complexity of the deal and the number of potential owners. Provided the information is easily digestible, easily understandable and gives us all the right answers it can be done relatively quickly.”
Meanwhile, the Premier League is looking at the suspension or termination of its Russian television deal, Masters confirmed, saying the agreements are “under review”.
The Russian rights for the current season are owned by a company called Rambler, and broadcast on streaming platform Okko.
Match TV – owned by energy giant Gazprom – is then set to start a six-year deal from 2022-23.
Commercial deals with Russia in all sectors are under scrutiny at the moment, and Masters told the Financial Times Business of Football Summit in London: “With regards to our broadcast contracts in Russia, clearly they’re under review.”
Premier League clubs are set to show their support for the people of Ukraine at this weekend’s matches.
“I’d like the Russian people to see the strength of feeling in the Premier League and in English football this weekend,” Masters added.
“We’re looking at (the contracts) very closely in terms of suspension, termination. It’s happening right now. It’s a fast-moving situation.”
Additional reporting by Gavin Cooney
