Binance CEO Changpeng Zhao opened negotiations with representatives of Russian tycoon Roman Abramovich to acquire control of Chelsea, the current FIFA Club World Cup champion, but ended up giving up on the transaction, according to a report by the news agency. Reuters news published on Wednesday 8.
According to a source heard by Reuters, the interest came from the CEO of Binance. Changpeng Zhao has spoken with executives from the Raine Group, an American investment bank that is negotiating the sale of Chelsea with possible interested parties, but has preferred not to advance the operation because he understands that managing a soccer club is not among his priorities at the moment.
If the purchase goes through, Binance would potentially become the target of further questioning from British financial authorities, who have already shown that they have several reservations regarding the way the exchange conducts business on the internet. the country.
The world champion is for sale
The traditional English club was put up for sale following the sanctions imposed on the Russian government and businessmen close to President Vladimir Putin as a result of the Russian invasion of Ukraine. Although he denied having personal or even institutional relations with Vladimir Putin, Abramovich chose to relinquish control of the club for the benefit of his fans, players and other employees.
In addition to the CEO of Binance, the American billionaire Todd Boehly, who owns shares in clubs in the professional baseball and basketball leagues in the United States, and the Swiss businessman Hansjorg Wyss would have teamed up to present an offer for control of Chelsea. The information, however, has not been confirmed by the couple.
MMA fighter Conor McGregor has publicly expressed his interest in acquiring the English club, but it is unknown if he has made an official proposal to Abramovich’s representatives.
According to the report, the Russian tycoon intends to raise 4,000 million dollars with the sale of Chelsea and hopes to complete it in a month. Abramovich, who bought Chelsea 19 years ago for $185 million, has promised to donate the proceeds from the sale to victims of the conflict in Ukraine.
Although Changpeng Zhao rejected the Chelsea deal, Binance has been investing heavily in sports marketing with a focus on football since the middle of last year. The cryptocurrency exchange just sponsored the African Cup of Nations, held earlier this year in Cameroon, and is the official sponsor of Italian Lazio and Portuguese Porto, as well as being the issuer of the official fan tokens for both clubs. .
In Brazil, Binance has sponsorship contracts with the Santos Futebol Clube and the Federação Paulista de Futebol.
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