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Abramovic & Chelsea Sanctions: Means club en route to going bust. Sponsors pulling away, cant sell tickets & Merchandise. Everything you need to know about crisis at ChelseaFC

UK sanctions Russian oligarch and Chelsea owner Roman Abramovich

More Drama at Stamford stadium as the UK Government announced sanctions on Chelsea. Sanctions are given on club due to their Russian Owner Roman Abramovich.

Earlier this month, Abramovich put Chelsea on sale after being in charge of the club for 19 years. The 25th March was the time given for buyers to submit their bids. As Chelsea was looking for buyers and hoped to resolve the conflict, But UK Government has other plans.

Last night, UK Government had some harsh and critical sanctions on The club that will leave the club in the Hanging situation. Let’s take a look at the imposed sanctions

  • Chelsea owner Roman Abramovich saw his assets frozen, throwing the pending sale of the club into disarray
  • No ticket sales, No Shop will sell the club Jersy.
  • Shirt sponsors Three suspended £40million deal with the club, while Nike consider ending their agreements
  • Blues chiefs held talks with Government to lessen the impact of stringent restrictions placed on the club
  • Chelsea were told they cannot renew contracts or sign any new players
  • No Transfer money
  • Sale of Chelsea Football Club’s now on hold.
  • New contracts, player transfers or official merchandise sales for Chelsea have now been officially prohibited by English Government.
  • Only season ticket holders can go to games.
  • Chelsea can still operate if they apply for a special license, but the sale has been put on hold.
  • Limited travel and hotel budget for away games and UCL games

These measures are valid until 31st May 2022 unless it is renewed, revoked or the club is sold. This means that Chelsea could still be sold only in case Roman Abramovich will allow UK Government to ‘take over the process.

Is Chelsea can be sold now?

The UK Government has imposed sanctions on Russian oligarch Roman Abramovich (and six others). Abramovich “sees his assets frozen, a prohibition on transactions with UK individuals and businesses, a travel ban and transport sanctions imposed.”

A special license has been granted which “authorizes a number of football-related activities to continue at Chelsea”. However, Chelsea “cannot sell tickets, merchandise or transfer players” (The Spectator Index). Existing season ticket holders will be able to attend fixtures.

See also: Richest football owners

The sanctions put the sale of Chelsea in limbo. If the club were to be sold, it would need special dispensation from the government and Abramovich would not be allowed to receive money, directly or indirectly, from the sale.

Roman Abramovich is “one of the few oligarchs from the 1990s to maintain prominence under Putin”, according to the government, and has an estimated net worth of £9.4bn.

MAIN SPONSOR SUSPENDS DEAL

Chelsea shirt sponsor Three announced Thursday it was suspending its deal with the Premier League club after the UK government slapped sanctions on Russian owner Roman Abramovich.

A spokesman for the mobile network provider said it felt the temporary suspension was “the right thing to do” in light of the asset freeze and travel ban on the billionaire.

It means Three’s logo will be removed from the shirts and around the stadium until further notice

Chelsea’s shirt sponsor, telecommunications company Three, is reportedly reviewing their $71 million-a-season deal with the club.

Written By

High on sports since forever, aspiring sports journalist and a FC Barcelona fan. Enjoys writing articles on any sport. Can also be considered a F1 bandwagoner.

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