The Premier League have decided to implement a new rule which will have a major effect on Arsenal, Chelsea and Tottenham in years to come. The United Kingdom's decision to sanction Roman Abramovich, following Russia's invasion of Ukraine, had a devastating impact on the Blues.
With the Russian oligarch's assets frozen, his ownership of the west London outfit put the club in jeopardy of simply ceasing to exist. So, the Premier League have put new plans in place which will now protect the futures of its clubs by amending the owners’ and directors’ test (OADT).
This 'test' determines who is eligible to control and buy shares in English football’s top flight. According to The Athletic, there was a shareholders' meeting at a hotel in London on Thursday which saw the Premier League committee and its 20 clubs 'unanimously approve several changes' to the OADT.
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The report states that the Premier League have changed the definition of a 'controlling stake'; it will now be defined as 25 per cent — it was previously 30 per cent. The Athletic outline that there will also be 'additional annual due diligence' on those who already own controlling stakes.
It's also said that various 'disqualifying events' have been implemented too for prospective directors and chief executives. Disqualifying events are defined by those subject to government sanctions, ties to human-rights abuses and those convicted of offences in the UK or overseas, such as corruption, fraud, tax evasion and hate crime.
The current Premier League rules only cover for crime 'which could reasonably be considered dishonest and any overseas conviction must be in a 'competent' jurisdiction. These new directive will protect the long-term futures of Arsenal, Chelsea and Tottenham — as well as every other Premier League side — in years to come when, naturally, the ownership falls into new hands.
The Gunners are currently owned by the Kroenke family, who have shown no sign of selling the club lately. Todd Boehly has only recently bought the Blues so it's likely that he'll be at the helm for a while from now.
Meanwhile, Spurs are owned by ENIC Group. The Lilywhites have briefly flirted with the prospect of new owners over the years but nothing has materialised yet, but if Joe Lewis does decide to cash-in then the terms of the takeover will be agreed in line with the Premier League's latest OADT ruling.
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