This piece is going to look like a defence of messrs Ecclestone and Briatore, and I suppose to a certain extent it is. It is certainly true that they and Paladini saved the club when it was staring into oblivion. There was hardly a clamour of rich benefactors forming a disorderly line to buy the Superhoops at the time. It is also true that at the time of the acquisition they were welcomed as heroes by the fans. But our perception of them has been tainted by a succession of inadequate managerial appointments, a series of Salami players, the attempt to create a boutique brand (whatever that really is) and the lack of serious funds to buy what the fans perceive to be quality performers on the field. All of the above serves to remind us that they are, first and foremost, businessmen. And this means that they having been looking for a return on their investment all along. As astute businessmen they were acutely aware that to maximise their return they needed to get the club into the Premier League with the minimal outlay. Tick. Job done. It will not have escaped their attention that this approach has made them unpopular. This unpopularity has been exacerbated by unhelpful comments about really being Chelsea fans, not knowing the names of any of the squad and not being bothered to make lenthgy away journeys to far flung places such as Watford. Of course, they now know it is the right time to jump ship and cash in. This process has been in swing for some months and explains why Bhatia had to leave the Board (conflict of interest), why there has been little money available to improve the squad (would this incremental expenditure be recouped in the transaction value, and would a host of new players on meaty contracts constitute a 'value drag' at exit?) and why there isn't yet a shirt sponsor (why would a corporation enter into a sponsorship deal with the outgoing executive of the club, and wouldn't an incoming acquiror prefer to do his own sponsorship deal? Value drag, again). Unfortunately, such transactions always, always, always take a lot longer than anyone first envisages. We don't know why Mittal didn't buy Briatore & Ecclestone out several months ago. But there was a reason. Perhaps the animosity had reached a level such that neither party wished to do business with each other. So it required an acquiring partner. Enter Tony Fernandes. It all makes sense to me. So, let's just sit tight and hope that a deal is struck this week and more significant funds are made available to Neil Warnock PDQ. Let's also hope that he has been in dialogue with other clubs about quality targets and that this dialogue is at a pretty healthy stage of maturity. There ain't a great deal of time left before the transfer window closes and I for one don't want another handful of Loan Rangers. COYR!
