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Chelsea Sanctions Spark Fresh Debate Over Football Finance

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The chaos engulfing Chelsea following sanctions imposed on Russian billionaire owner Roman Abramovich has sparked fresh debate over the sources of money that fuel Europe’s richest league.

The Premier League club had their assets frozen after Abramovich was targeted by the British government following Russia’s invasion of Ukraine, leaving them to cope with a ban on ticket sales and merchandise.

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An expedited sale of the European champions will soon bring the curtain down on 19 years of nearly unbroken success under their 55-year-old owner, who has overseen five Premier League titles and two Champions League triumphs.

Chelsea’s first home game since the sanctions were imposed was against Newcastle, whose own ownership model is also in the spotlight after a controversial takeover in October by a consortium led by Saudi Arabia’s sovereign wealth fund.

Rights group Amnesty raised concerns over the purchase, saying it was an attempt to “sportswash” the Gulf kingdom’s human rights record.

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Reflecting the intensified focus on off-field issues, Newcastle boss Eddie Howe was forced to field questions after the Chelsea game about scores of executions in Saudi Arabia instead of incidents during the match.

Newcastle are hoping to follow in the footsteps of Abu Dhabi-backed Manchester City, who have become the dominant force in the Premier League over the past decade on the back of huge investment.

Yet the UAE’s decision to abstain from voting on a UN Security Council resolution to condemn Russian “aggression” towards Ukraine and a recent meeting between City owner Sheikh Mansour bin Zayed Al Nahyan and Syrian president Bashar al-Assad — an ally of Russia’s President Vladimir Putin — have led to a renewed focus on City.

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Opposition Labour lawmaker Chris Bryant said it would be “good to see the back of” Sheikh Mansour as City owner, while the government criticised his meeting with Assad, saying it undermined prospects for a lasting peace in Syria.

READ ALSO: Ricketts Family Fly To London As Race To Buy Chelsea Hots Up

Sports business expert Simon Chadwick told AFP that despite the unease about who is funding Premier League clubs, it is difficult to foresee meaningful change in the short-term, with billionaires from across the globe lining up to buy Chelsea.

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“European football can wean itself off money from Russia, China and Saudi Arabia but what’s left? If they leave, who replaces them?” said Chadwick, global professor of sport at Emlyon Business School.

“If we take the example of Chelsea, one of the options for replacing an outgoing Russian is a consortium of an American and Swiss billionaire, so for British football fans the situation is not going to change.”

– Turning point? –
The British government acknowledges the need for a shake-up, publishing a fan-led review into governance of the sport in November.

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Recommendations include the creation of a new independent regulator for English football and new owners’ and directors’ tests to ensure “only good custodians” can run clubs.

Premier League chief executive Richard Masters said earlier this month that the league’s owners’ and directors’ test was under review, with sports minister Nigel Huddleston arguing it needs to be more “robust”.

Huddleston told a committee of lawmakers last week he believes the English game is at a “turning point”.

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“The fan-led review is pivotally important,” he said, with the full government response due in the coming weeks. “We recognise there are failures in the structure and governance of English football.”

Questions around ownership and sponsorship models are not unique to the English top flight.

Qatar-owned Paris Saint-Germain are storming towards an eighth French league title in 10 years, while the Spanish football federation has attracted criticism for taking its Super Cup to Saudi Arabia.

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In Germany, Schalke cut ties with state-owned Russian energy giant Gazprom, but Bayern Munich has stood by a sponsorship deal with Qatar despite a fan uprising that disrupted the club’s annual general meeting in November.

Football clubs and the Premier League are under fire for apparently neglecting to ask searching questions about where their money comes from as they chase silverware in a hyper-competitive industry.

Chelsea find themselves caught up in geopolitical currents that extend far beyond football but whether the sport has the appetite for fundamental change remains to be seen.

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JUST IN: Cristiano Ronaldo Confirms Al Nassr’s Stay, To Sign New Deal

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Portugal striker Cristiano Ronaldo is ready to extend his stay with Saudi pro side Al Nassr and is even ready to sign a new deal.

According to Fabrizio Romano’s post on X on Monday, the Portuguese have dismissed rumours of leaving Al Nassr.

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The post read, “Cristiano Ronaldo confirms plan to stay at Al Nassr by signing a new deal.

“My future? Basically, nothing is gonna change. Staying at Al Nassr? Yea.”

READ ALSO: Saudi League: Many People Don’t Understand – Ex-American Player Defends Cristiano Ronaldo

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Recall that the 40-year-old on Sunday helped his national team to secure the Nation’s League for the second time four years after the Nation’s League was unveiled.

Ronaldo, who joined Al Nassr in December 2022 on a record-breaking deal, has played a transformative role both on and off the pitch.

His arrival marked a turning point for Saudi football, drawing global attention to the Saudi Pro League and triggering a wave of high-profile signings across the league.

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READ ALSO: Cristiano Ronaldo Tops List Of Highest Earners In Saudi Arabia Pro League [Top 10]

During his time at Al Nassr so far, Ronaldo has delivered impressive performances, scoring consistently and helping the club remain competitive at the top level. His presence has not only boosted the club’s visibility but also played a key role in the league’s growing popularity worldwide.

The announcement of his continued stay is seen as a significant boost for Al Nassr and the Saudi Pro League as a whole. It also signals Ronaldo’s long-term commitment to the ambitious football project unfolding in the region.

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Brazil Star, Neymar Tests Positive For COVID-19

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Brazil forward Neymar has been sidelined after testing positive for COVID-19, Santos announced in a statement cited by Brazilian media.

The 33-year-old began showing symptoms on Thursday and was immediately withdrawn from all team activities. Medical tests later confirmed the viral infection, the Brazil Serie A club said on Saturday.

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Santos did not specify how long Neymar will be out of action and did not respond immediately to a Reuters request for comment.

Neymar is already set to miss Thursday’s league match at Fortaleza due to suspension.

READ ALSO: Chelsea Boss Maresca insists Money No Guarantee Of Success

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That Fortaleza game will be Santos’ final fixture before the Brazilian league pauses for the Club World Cup in the United States, scheduled from June 14 to July 13.

The former Barcelona forward’s future with Santos remains uncertain as his contract expires on June 30.

Limited by injury, Neymar has made 12 appearances across all competitions this season, tallying three goals and three assists.

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Osimhen Rejects Al Hilal 5th Offer, Wants To Stay In Europe

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Super Eagles striker Victor Osimhen has officially turned down a fifth offer from Saudi Arabian giants Al Hilal, reaffirming his desire to remain in Europe.

In a post shared via X (formerly Twitter) handle, journalist Buchi Laba. Laba revealed that Osimhen has shut the door on any potential move to Saudi Arabia, regardless of the financial incentives.

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Victor Osimhen officially rejects Al Hilal 5th offer,” Laba wrote. “He has decided to not move there no matter the money offered. Case closed.”

READ ALSO: Osimhen To Sign Chelsea Pre-contract Agreement

Osimhen, who has been a subject of transfer speculation in recent months, appears to be in no rush to make a decision about his next move.

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Sources close to the player suggest that his main priority is to continue his career in Europe, where he feels more competitively challenged.

Main priority is to stay back in Europe,” Laba added, noting that “a top Italian club [is] very interested and other European clubs” are also keeping tabs on the Nigerian forward.

READ ALSO: Osimhen Fuels Speculation Of Future Move To Chelsea On His Birthday

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The 26-year-old Napoli star has been linked with several clubs across Europe, including teams in the Premier League and Serie A.

However, he is reportedly taking his time to evaluate the best sporting project before making his next move.

Osimhen was instrumental in Napoli’s Serie A title win in the 2022/23 season and also helped Galatasaray to a domestic double during his loan spell in Turkey last season.

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