That may not seem like a great deal of cash for an oil professional who has literally billions of dollars in the bank but not every single penny of that fortune is destined to find its way into the Chelsea bank balance.
Abramovich holds the highest number of shares in Russian steel company Evraz, which is listed on the London Stock Exchange. The bad news is the company has said it will not pay out on the final dividend for last year because of losses.
Chelsea head into this summer needing to making personnel changes to help them cut the gap between themselves and the two Manchester clubs who have dominated the Premier League over the last two seasons.
Chelsea have been linked with several big names and some big money deals, which are going to require some hard nosed commitment on the part of the owners if they are to come to fruition.
The club could easily spend over £50 million trying to convince Edinson Cavani to join them from Napoli and they are still in the hunt to sign other big name players such as Radamel Falco and Neymar.
None of these deals are going to be cheap and that £50 million that Abramovich has just missed out on, could easily have funded a move for the club’s next star striker.
Of course whoever the new manager is at Chelsea could single out a particular player he wants and the owner is going to feel pressured into backing that manager because he will have a big part in his appointment.
The optimism for Chelsea fans here comes from the fact that Abramovich has always backed his bosses when they have come to him and said ‘I want this player’ and he’s also pushed through some big money deals himself; Andriy Shevchenko and Fernando Torres.
Abramovich is and always will be a businessman first and foremost. He’s built his fortune in the business world and his approach to Chelsea seems to have been to turn them into a profitable business over a long period, as opposed to a bit of a fun toy.
His business background means there are always going to be losses and negatives which pop up such as this, which could have a knock on effect to the club.
Chelsea should just be fortunate that this is something which has only cost their Russian owner £50 million and not £500 million, which would have definitely impacted the club’s summer spending.
Do you still expect Chelsea to spend big this summer?
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