According to reports, the Premier League has reviewed the documentation presented by Todd Boehly, confirming that Chelsea is not under the ownership of Saudi Arabia’s Public Investment Fund (PIF).
Thank you for reading this post, don't forget to subscribe!The Saudi Pro League is making significant waves in the transfer market this summer, aiming to attract high-profile players to its domestic league. While this move may be seen as an audacious attempt at sportswashing, similar to the involvement in golf, it presents an opportunity for some of Europe’s major clubs. They can now offload unwanted players who may be financially unattainable or unsuitable for other European teams.
One prominent example of this situation is Chelsea. Despite Todd Boehly’s substantial expenditure of over €600 million on new players last season, the team experienced limited success. As a result, Chelsea is now in dire need of reducing the size of their squad. However, many players either carry high wage demands or are tied to long-term contracts, making it challenging for European clubs to afford them or for the players themselves to consider taking a pay cut elsewhere.
Enter Saudi Arabia. The Gulf State has provided a crucial lifeline to Chelsea, allowing the club to navigate Financial Fair Play regulations and facilitate the offloading of players. Notable names such as Hakim Ziyech, Kalidou Koulibaly, and Edouard Mendy are set to move to the Pro League, while N’Golo Kante has already joined Al-Ittihad on a free transfer.
The involvement of Saudi Arabia has naturally sparked suspicions of collusion between Todd Boehly, Behdad Eghbali, and their associates with the Saudi Private Investment Fund, which now holds control over the Pro League’s four largest clubs. These speculations have been fueled by the PIF’s previous investment in Eghbali’s Clearlake Capital.
The Telegraph recently disclosed that the Premier League requested Chelsea to provide evidence demonstrating that the PIF had no involvement in Boehly’s takeover of the London club. As the PIF also holds control over Newcastle United, concerns have arisen regarding potential conflicts of interest and their growing influence in Premier League affairs.
However, the Premier League has expressed complete satisfaction with the evidence provided by Boehly, indicating that Saudi Arabia’s considerable spending on Chelsea and Premier League players will continue unhindered. Nevertheless, the rumors surrounding possible collusion between Boehly and the PIF are unlikely to dissipate entirely.
