Chelsea owner Roman Abramovich has received sanctions from the United Kingdom government. The club is in for a difficult year ahead.
Because of Chelsea owner Abramovich’s strong relations with Russian President Vladimir Putin, according to The Times writer Steven Swinford, the United Kingdom government has finally sanctioned the Russian businessman. Several Russian billionaires, notably Oleg Deripaska and Igor Sechin, have also received sanctions from the government.
Even though Chelsea has been granted a special license to continue their football-related activities, the Football Association has effectively barred the club from being sold. This comes just over a week after owner Roman Abramovich announced his intention to sell the club. It was to avoid being sanctioned following Russia’s invasion of Ukraine.
The UK government has cited Abramovich’s ties to Russian President Vladimir Putin, as well as his companies’ ability to gain financial benefits such as tax breaks, as the primary reasons for sanctioning him. Abramovich purchased Chelsea Football Club in 2003.
In his tenure as owner, the Blues had a meteoric climb to popularity. Thus quickly establishing themselves as one of the most important clubs in European football history. The team even managed to win 21 titles within this period, including the UEFA Champions League title in 2021.
Last month, Abramovich revealed his intention to sell Chelsea. Thereby cancelling the debt the club owed him as a result of the transaction. He wanted to sell the club as soon as possible due to interest from Turkish billionaire Muhsin Bayrak and the Swiss-American partnership of Hansjorg Wyss and Todd Boehly. They submitted their bids this week to purchase the club.
What’s in store now for the Blues?
In contrast, Abramovich’s sentence implies that the Russian businessman will be unable to sell Chelsea or any other assets that the government has confiscated. It practically implies that the Blues will be unable to authorise a takeover until further notice. Thus putting the club in a precarious position going forward.
The situation is much grimmer for Abramovich, who may not get a single dime from the sale of Chelsea. Even though the club owes him a significant amount of money. The sale of CFC would need a special designation from the government, according to Swinford. This would be a time-consuming and complicated procedure.
Only season-ticket holders can attend games for the time being. While the club may pay its employees and players, including the security personnel, medical staff, and stewards, the board of directors can’t take any further action. This most certainly includes engaging in any transfer market activity.
