According to President Javier Milei, he believes it is essential and time-sensitive to allow the privatization of Argentina’s largest football clubs. He asserts that there is considerable interest from the owners of Chelsea in the English Premier League, as well as investors from an unidentified “Arab” background who are interested in up to five clubs.
During a radio interview, the leader of the libertarian party stated that the government order he released last month, which is currently undergoing discussion in Congress, would permit non-profit civil associations in the country to be sold to private individuals as sports limited liability corporations.
He stated that the business was effortlessly manageable and that there would be rapid influx of new investments.
One of the president’s proposed changes includes a highly contested decision that is being strongly objected by Argentina’s football clubs. This particular move is just one among over 300 adjustments the president is seeking to implement through a “mega decree” in order to deregulate the economy and labor regulations.
Milei’s favored ownership structure for major clubs is the SAD model, which is also preferred by his political ally, Mauricio Macri.
The ex-president, who led Boca Juniors, a prominent local football club, for over ten years, desires the privatization of clubs by being sold to individual owners.
During an interview with Radio Mitre, Milei defended the inclusion of the conversion of football clubs into corporations in the “urgent and necessary” decree, dismissing the criticism.
The president asserted that it is both necessary and urgent because there are Arab groups ready to invest a substantial amount of US$3 billion.
He did not provide any supporting evidence for his statement, nor did he specify the countries that were supposedly interested.
“The intriguing aspect is how investments pour in rapidly. This business is highly convenient; there is no need for extensive machinery or enduring a two-year wait, as is typical in establishing a factory,” he declared.
Milei stated that the group representing investors Todd Boehly, Clearlake Capital, Mark Walter, and Hansjörg Wyss, known as BlueCo and the owners of English Premier League team Chelsea, have expressed interest in several local clubs such as Boca Juniors, Racing Club, Newell’s Old Boys, Estudiantes de La Plata, and Lanús.
Milei disregarded the criticism and stated that if the club members are unwilling, they will continue with the existing plan as it brings in fast cash.
Chelsea and BlueCo have not made any official statements regarding a possible acquisition. The speculation of interest was initially made public by Felix Johnson, an individual who transitioned from being a Chelsea fan to becoming a YouTuber.
Milei emphasized that Chelsea’s intentions, the Arabs, and the overall situation have a significant and immediate impact. He acknowledged the involvement of a substantial amount of money but did not give any additional details.
The president attempted to make it clear that clubs had the freedom to determine their own destiny and were not obligated to be sold, despite his annoyance at the notion that this choice would have a negative impact.
As a fan of Boca, if wealthy investment groups pour a significant amount of money into the club, resulting in consistent victories over River without them winning a single match, the only question is: where can I put my signature?
Days ago, an argument over the same issue occurred between Security Minister Patricia Bullrich and Néstor Grindetti, the president of Independiente and former candidate for governor of Buenos Aires Province.
Bullrich, a fan of the team, expressed disappointment as Chelsea announced its intention to acquire six clubs but unfortunately, Independiente was not included in the list.
Grindetti responded by saying that his desire is for our team to purchase Chelsea. He believes that if a club wants to operate as a corporation, they should be allowed to, but it is strictly prohibited for Independiente according to its bylaws and will never happen.
– TIMES/PERFIL/NA
