Chinese billionaire and CEO of Binance Changpeng Zhao has ruled himself out of the Chelsea ownership race for one reason in particular.
Roman Abramovich confirmed he is looking to sell Chelsea last week in a statement on the club's website, with several interested parties already being mentioned. The Russian billionaire has reportedly put a £3billion price-tag on the west London club as he ends his 19-year affiliation at Stamford Bridge - though that may come down due to the current situation.
Zhao might have joined a list of 1,063 owners who reportedly could match the required valuation in the forthcoming weeks and months.
However, running a football club is not one of his "priorities" according to a spokesperson close to him, meaning that the Blues are not likely to have a Chinese owner to succeed Abramovich.
This is according to Reuters who state that while Zhao did discuss the possibility of buying Chelsea with the Raine Group, owning a club is not among his list of priorities.
Whoever is to be the next owner at Stamford Bridge will likely have to wait some time until Abramovich makes his final decision on who he thinks is best to continue his work.
This is despite Premier League Executive Chairman Richard Masters claiming that a deal could go through quickly but with no sanctions imminent yet for the oligarch, he may have until the summer at least to close any big negotiation for the west London outfit.
"I think the quickest one we have ever done is 10 days but that’s not to say that record cannot be beaten," Masters told the Financial Times Business of Football Summit.
"Normally it will take a number of weeks but that will depend on the complexity of the deal really and the number of potential owners.
"Provided that the information is easily digestible, easily understandable and gives us the right answers, it can be done relatively quickly.
"It is the right decision, the situation has escalated incredibly quickly over the last seven days and he has come to the right conclusion that it is unsustainable in the current environment.
"It is a welcome decision and obviously for the sake of everyone, including the fans, the sooner the selling process concludes and completes, the sooner everyone will have certainty."
That looks to be some way off still, but with Todd Boehly, Hansjorg Wyss and Muhsin Bayrak all heavily interested, the news of Zhao's drop off isn't necessarily bad news for the European and World champions, who still look to have many suitors.
