All the top football clubs need billionaires to bear the financial responsibility, says former FIFA development officer Prabhakaran

Roman Abramovich put Chelsea FC up for sale last month, the club has gone through a period of uncertainty. The Russian businessman has transformed Chelsea from also-rans to the kings of Europe, winning all the major trophies since his acquisition of the club in 2003. He has spent lavishly, bought the world’s best players and coaches.

The trophy count has jumped to 21 and includes five Premier League titles, two Champions League crowns and, most recently, the FIFA Club World Cup. Significantly, before Abramovich’s arrival at the club, Chelsea had gone 50 years without winning a league title. No wonder fans keep chanting his name despite the Chelsea owner being hit with sanctions due to his alleged ties to Russian President Vladimir Putin and the invasion of Ukraine.

“Abramovich’s spending has ensured that the club is consistently contesting for the major trophies,” said Shaji Prabhakaran, former FIFA development officer for South Central Asia and currently president of Football Delhi. “But the recent development suggests that what has happened at Chelsea today, can happen at any other club tomorrow. In the Premier League, all the top clubs have foreign ownership.

Russian businessmen own clubs across Europe. There are Chinese owners too. “The Premier League is largely dependent on foreign investment, the latest being Newcastle United (owned by Saudi Arabia's Public Investment Fund).

There will be volatility due to the international geopolitical situation. Going forward, I think there will be more resistance (to foreign investments). When you have local investors, you know what you are getting into,” said Prabhakaran Abramovich’s entry into football saw a change in ownership at several clubs in the Premier League.