Alejandro Santo Domingo, the Businessman Who Aspires to Own Chelsea

The name of the Colombian businessman Alejandro Santo Domingo has appeared as one of the potential buyers of the Chelsea club, the current champion of the Club World Cup, and one of the most important clubs in the English Premier League. This has not gone unnoticed in Colombia, if the purchase of the English club materializes, Santo Domingo could become one of the few Latinos that owns a club in Europe. It is a very competitive market, it is only enough to remember the purchase of Newcastle last October that grabbed the headlines due to the economic capacity of its buyer.

Why is Chelsea Being Sold?

The pleasure of owning Chelsea FC lasted 19 years for Román Abramóvich. During his time as owner of the club, he managed to revolutionize it. The drought of titles ended with the arrival of the Russian, who based on an investment of large sums and correct administration managed to take the club to the top to make it one of the most powerful in the world. Chelsea is now one of the most respected clubs in Europe and in the world. However, that is not enough for its owner to continue to be. Due to Russia's invasion of Ukraine, the businessman has been affected by the sanctions imposed on his country of origin.

Abramóvich announced the immediate sale of the club, so groups interested in buying Chelsea quickly formed. On a few occasions, the sale of teams that are in good economic and sports conditions occurs, in general, it occurs during times of crisis. The speed with which the transaction must be made and the sanctions to which the tycoon is subject will possibly cause its price to be below the market price it should have been. Even so, the businessman has promised that the money obtained from the sale will be used to support the victims of the war in Ukraine.

Alejandro Santo Domingo, in the sports business elite

Santo Domingo is also American, it is in North America where it has gained experience and crucial relationships with the business elite. Its businesses in Colombia support its economic capacity which amounts to $2.4 billion dollars, enough to support the proposal for the purchase of Chelsea. However, it will not be an easy task, the businessman finds himself facing the elite of the European and world sports industry. Many of the European clubs belong to tycoons and companies from China, Saudi Arabia, Qatar, the United Arab Emirates, and the United States.

The advantage of the Santo Domingo proposal is that it is joint with Sir Martin Broughton, a British businessman who is leading the project and who owns companies such as British Airways and was the owner of Liverpool FC. Also in the group is an Indian businessman, Vivek Ranadive, and American businessmen: Josh Harris and Dave Blitzer, according to information from SKY Sports.

If the purchase goes through, the Colombian-American would be among the select group of European club owners and would be the only Latin American to own one of Europe's elite clubs. The Mexican tycoon Carlos Slim is far from that objective, the owner of the CARSO group is also the owner of Real Oviedo of the Spanish second division, far from the spotlight and the fame that Chelsea possesses, which is why Alejandro Santo Domingo's proposal is interesting in an industry dominated by Chinese, Arabs, and Americans.

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Would the Purchase Benefit Colombian Football?

Beyond being something interesting for Colombian soccer, the purchase should have some benefit for the sport of the South American country. Of course, the direct benefits would be at a sporting level with some possibility of exchanging players or opening the doors for Colombian players to try out for the English club. However, this seems far from reality, Alejandro Santo Domingo will be a minority shareholder, so decision-making will not go through him in all cases.

From the outset, if the purchase is finalized, the first objective of the club would be to remain in the elite of world football regardless of the change of ownership. In addition, the club will require constant investment to keep it at the same level it is at, which is why it is difficult to think of direct benefits to Colombian sport, at least immediately, it is still early for Santo Domingo to even think about how it can relate to his country with his possible new club.