President Javier Milei says his plans to allow the privatisation of Argentina’s biggest football clubs in “necessary and urgent,” assuring that there is interest from the owners of English Premier League Chelsea and unnamed “Arab” investors in as many as five clubs.
In a radio interview, the libertarian leader said the government decree he issued last month – which is currently being debated in Congress – would allow the nation’s non-profit civil associations to be sold off to private owners as Sociedad Anónima Deportiva (SAD) corporations.
He claimed that it was a “very easy business” and that new investment would “come in quickly.”
The controversial move, which is strongly opposed by Argentina’s football clubs, is one of more than 300 changes the president wants to make to economic and labour rules via a so-called ‘mega decree’ to deregulate the economy.
Milei’s preferred owner structure for top clubs is the Sociedad Anónima Deportiva (SAD) model favoured by his political ally, Mauricio Macri.
The former president, who spent more than a decade in charge of local footballing giant Boca Juniors, would like to see clubs sold off to private owners.
In an interview with Radio Mitre, Milei pushed back on criticism that the conversion of football clubs into corporations should not have been included in the “urgent and necessary” decree.
“Yes, it is necessary and urgent,” stated the president, who claimed that there were waiting “Arab groups itching to invest US$3 billion.”
He did not reveal any information to back up his assertion, nor did he identify which nations were supposedly interested.
“What is the interesting thing? That investments come in very quickly. It’s a very easy business, you don’t have to sink a huge machinery or wait two years as if assembling a factory,” he stated.
Milei went on to claim that the owners of English Premier League Chelsea – a group known as BlueCo, representing investors Todd Boehly, Clearlake Capital, Mark Walter and Hansjörg Wyss – had already shown interest in a number of local clubs, including giants like Boca Juniors, Racing Club, Newell's Old Boys, Estudiantes de La Plata and Lanús.
“It’s quick money. If the members of those clubs don’t want to, they’ll continue with the current scheme,” stated Milei, dismissing criticism.
No official word has come from either Chelsea or BlueCo about a potential purchase. Rumours of interest were first reported by a Chelsea fan-turned-YouTuber named Felix Johnson.
“There are Chelsea’s intentions, the Arabs, and I find it to be something that makes an impact very quickly. It’s a lot of money and very quick,” insisted Milei, who did not provide further information.
The president sought to clarify that clubs could decide their future and would not be beholden to being sold-off, though he expressed exasperation at the idea that such a move would be negative.
“I’m a Boca supporter and if investment groups spend a fortune on Boca and that helps Boca win all the time and River can’t win a single match against them, the question is: where do I sign?”
The same topic had caused a tiff days ago in the opposition between Security Minister Patricia Bullrich and Néstor Grindetti, the president of Independiente and former Buenos Aires Province gubernatorial candidate.
“I’m quite sad, Chelsea said it wanted to buy six clubs, and Independiente was not on the list, unfortunately,” stated Bullrich, a supporter of the team.
Grindetti answered: “What I want is for us to buy Chelsea. If a club wants to be a corporation let them, Independiente is banned from being one in its bylaws, it never will be.”
– TIMES/PERFIL/NA
Comments