Two of the wealthiest men involved in Premier League football have lost over $1 billion between them in the last 48 hours.
Alisher Usmanov, Arsenal’s second largest shareholder has lost $809m this week as sanctions over Russia’s involvement in Ukraine begin to bite and saw the net worth of Russia’s richest man plummet to a measly $13.4 billion.
The latest hit means that Usmanov’s wealth has dropped by $6.8 billion in 2014 but he is unlikely to be selling his private jet anytime soon.
Roman Abramovich, the major shareholder at Chelsea, lost $449.5m as he struggles to keep his head above water with just $12.8 billion.
Could cost Chelsea
While both men can afford such losses it will still hurt; it cost Abramovich an estimated $2.8 billion before Chelsea won the Champions League title.
The news will no doubt come as a blow for the Blues, while Abramovich is unlikely to be seen wandering the aisles of the local Aldi, he is no doubt considering how to reduce his losses with Chelsea owing the Russian over £700m in loans.
Of course that probably won’t stop the billionaire splashing the cash on more artworks or staffing his super-yacht, which costs an estimated $500,000-a-week.
Usmanov also seems reluctant to reign in his spending, he recently spent $4.1m on a Nobel prize medal before handing it back to disgraced scientist James Watson.
Arsenal and Chelsea fans however can rest easier in the knowledge that their clubs can cope without the billions of dollars in the boardroom, Financial Fair Play rules have placed an emphasis on self-sustainability, the Gunners posted a profit of £4.7m in the year ending May 2014 and had £173m in cash reserves.
Chelsea meanwhile posted a profit for only the second time in the Abramovich era despite failing to win any silverware.