Gary Neville believes Newcastle United's owners will be carrying out a risk assessment 'as we speak' in light of the sanctions placed upon Roman Abramovich and Chelsea. The Blues owner was hit with a raft of government-enforced sanctions last week due to his 'close relationship' with Russian president Vladimir Putin.
Abramovich has put the club on the market with offers of around £3bn currently being sought, with the Russian oligarch's position becoming untenable following Russia's invasion of Ukraine. The sanctions have raised questions over Chelsea's immediate future, with restrictions put in place limiting their spending, their capacity to generate revenue as well as buy or sell players.
Newcastle's defeat at Stamford Bridge on Sunday afternoon generated debate among certain commentators and fans, given the criticisms levelled at Saudi Arabia's Public Investment Fund. Neville described recent events as a 'wake-up call' to himself and the sport, and described his previous stance on sportswashing accusations as wrong.
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Speaking on Monday Night Football, the former Manchester United defender believes ongoing events in Ukraine could lead to precedents being set in the Premier League which could cause concern to those in charge at St James' Park. Neville also shared the same view as fellow pundit Jamie Carragher that Eddie Howe should answer 'difficult' questions on Saudi Arabia's human rights record.
He told Sky Sports: "It's a massive wake-up call this last few weeks, it's a massive wake-up call for me on my historical position on shall we say new money coming in to English football.
"It has improved the competitive landscape enormously. I'm a fan of the traditional elite, as is Jamie, Arsenal, Manchester United, Liverpool. But I've welcomed Jack Walker's money at Blackburn, Roman Abramovich's money, the fact Manchester City have come in and challenged the elite.
"We have got an unbelievable Premier League with great football teams, and we've benefitted from that globally. The Premier League is seen as an absolute model for everywhere.
"I've also recognised that when states have come into English football, they've improved communities around them as has happened in east Manchester with Manchester City, as would hopefully happen with Newcastle.
"I've also thought that when that sportswashing term has been mentioned, I've maybe seen that naively in that we can have a positive impact through sport on the communities and the local people in the countries that are investing. That we can actually make their lives better somehow.
"Those states would soften their hard stances and what would be their appalling behaviours that they have, and that we would try to make positive change through sport and rise above it. However, I said last week those sort of views are being greatly tested to the point now where I'm thinking I'm probably wrong here.
"I think it's coming hurtling down the street at football. The Premier League won't know what to do with this, and to be fair I can see why.
"I can imagine the executive of the Premier League sat there looking at the owners and saying what do we do with this situation a couple of weeks ago. You've got Chinese money sat over here, Russian money sat over here, Abu Dhabi money sat over here who were abstaining at the UN in that period, you've obviously got the Saudi money at Newcastle.
"They will be sat there very nervously thinking we don't want to set a precedent here, what do we do? The Premier League only reacted after the Government sanctioned Chelsea in removing Roman Abramovich as a director. They weren't pro-active which is not leadership because they don't know what to do on this subject.
"Football has got a big problem because I don't think now it is going to be accepted anymore. There will be an independent regulator put into football - I think it was coming anyway - but Super League, Saudi money, Russian money, Bury, Derby, lack of sustainability, lack of real financial monitoring, lack of fit and proper persons test, football is absolutely coming under huge scrutiny.
"It's not just a football problem this, Russian money has washed its way through London and into political parties. It isn't just football, but football is a massive part of this country's fabric and it will be the centre of the things that will happen and how it deals with it.
"It's going to be an issue in the next couple of years, and I suspect if you're Abu Dhabi in Manchester or the Saudis in Newcastle, you're going to be doing your risk assessments as we speak thinking what's going to happen."
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