Abramovich Sanctions Put Chelsea Sale On Hold
Chelsea FC owner Roman Abramovich has had his assets frozen by the UK authorities in a move that puts his sale of the Premier League club in jeopardy.
The tycoon, who last week announced he intended to sell the current World and European champions following the fallout of Russia’s invasion of Ukraine, has this morning (10th March) been added to the list of Russian oligarchs who have had sanctions placed on them.
The decision to prohibit Abramovich from transactions with UK individuals and businesses means not only that the tycoon will be unable to proceed with his sale of Chelsea, but also that the club cannot sell match tickets, buy players or sell merchandise.
The club’s status as a ‘significant cultural asset’ means it has been granted a special licence to continue playing. Under the terms of the licence, which runs until 31st May, Chelsea is able to continue to pay players and staff, spend money on operations and receive cash from broadcasters.
However, the licence limits Chelsea to £500,000 of costs related to hosting fixtures. It has also been limited to £20,000 on any away game travel, which could impact its plans for next week’s UEFA Champions League game in Lille and subsequent games in the competition it won last year.
Culture Secretary Nadine Dorries said, “Our priority is to hold those who have enabled the Putin regime to account. Today’s sanctions obviously have a direct impact on Chelsea and its fans. We have been working hard to ensure the club and the national game are not unnecessarily harmed by these important sanctions.
“To ensure the club can continue to compete and operate we are issuing a special licence that will allow fixtures to be fulfilled, staff to be paid and existing ticket holders to attend matches while, crucially, depriving Abramovich of benefiting from his ownership of the club.
“I know this brings some uncertainty, but the government will work with the league and clubs to keep football being played while ensuring sanctions hit those intended. Football clubs are cultural assets and the bedrock of our communities. We’re committed to protecting them.”
A document published by the UK Government today said sanctions were taken against Abramovich due to his close links with the regime of Russian President Vladimir Putin. It alleges Abramovich has obtained a financial benefit or other material benefit from the Putin regime including tax breaks and contracts received in the run up to the Russia 2018 FIFA World Cup.
The club has yet to respond to the developments via official channels.
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