Roman Abramovich, the Russian energy tycoon and former friend of Vladimir Putin, has been at the helm for almost two decades during which managers and coaches have been changed with great abandon and silverware, including the Champions League in 2021, has piled up.
In many ways, the recent much heralded £310million purchase of Newcastle United by the Saudi Arabia Public Investment Fund, is a back-to-the-future deal, coming years after other major clubs such as Manchester City and Paris St Germain in France fell into the hands of Gulf region autocrats.
It was no accident that Wall Street’s biggest bank, JP Morgan, was the £3billion investor behind the currently shelved (but not dead) European Super League.
The most noteworthy financial foray for CVC’s sports franchise, based in London, was the purchase of F1 from Bernie Ecclestone for £1.4billion in 2006.
Read more/Source: This is Money
