Reputation Meets Reality in the Champions League

Time for another addition to English soccer’s ever-expanding calendar of high holidays: alongside Cup Final Day, League Cup Final Day and the two Transfer Deadline Days, we can now reliably celebrate Soft Deadline for Investors to Submit Bids for a Major Club Day.

Like Easter, this one moves around. It fell in April last year, in the midst of the scramble to take Chelsea off the hands of Roman Abramovich. This time, Raine, the investment bank that plays the role of Hallmark for this particular holiday, has decreed that the Manchester United sequel should come as early as mid-February.

As of Friday, only one contender had gone public: Jim Ratcliffe, the British billionaire and one-time Chelsea suitor who seems to have remembered late in life that his real passion is for sports rather than chemicals, had confirmed he would bid. He was expected to face competition, though, from at least one “U.S.-based consortium,” as well as “private” bidders from both Qatar and Saudi Arabia.

That last prospect, of course, might have been greeted with caution, or even concern. The questions are obvious. How “private” could any bid emanating from a tightly controlled autocracy ever really be? What would be the implication for the integrity of both the Premier League and the Champions League, given the Saudi ownership of Newcastle United and the Qatari control of Paris St.-Germain?

Or it might have been greeted with a breathless frenzy, focusing exclusively on what Gulf ownership might buy for the club and its success “starved” fans: Kylian Mbappé, or Jude Bellingham, or (genuinely, inexplicably) a new monorail running directly from Manchester airport to a giant mall outside Old Trafford.

Article source: https://www.nytimes.com/2023/02/17/sports/soccer/champions-league-premier-league-chelsea.html