United States
United Kingdom
Summary
- UK slaps Chelsea club owner and Russian billionaire with sanctions
- Chelsea cannot be bought or sold due to the sanctions
- Abramovich will not be allowed to fund the club or withdraw any funds
The United Kingdom (UK) has imposed sanctions on a number of Russian tycoons having business and financial ties in the UK.
The sanctions come as Russia continues to bomb Ukraine and provoke anger in the international community.
Multiple countries including the United States and Australia have imposed a number of sanctions on Russia due to the war on Ukraine which included FIFA and UEFA banning them from all football events..
Russian billionaire Roman Abramovich who is the owner of Premier League club Chelsea is one of the individuals that the UK has imposed sanctions on. Abramovich recently announced that he was planning on selling Chelsea and his home in the UK. Now that sanctions have been imposed,
Abramovich will no longer be able to sell Chelsea or his UK home until the sanctions have been lifted. Abramovich is also banned from entering the UK for now
This ban has been enforced due to Russia’s bombing of Ukraine and not for anything that Abramovich has done. The UK government estimates Abramovich’s net worth to be around £9.4 billion.
The sanctions will also prevent Chelsea from buying and selling any players in the Premier League which puts the future of the club in jeopardy. The UK government will allow Chelsea to continue to play in the Premier League and will allow the club to pay its players and vendors as usual.
Chelsea In Trouble As Sponsors Cut Ties
Chelsea is also facing trouble because a number of UK sponsors are cutting ties with the club due to the fact that it is owned by Abramovich. Three Mobile, which is the shirt sponsor for the club has already asked Chelsea to temporarily suspend its sponsorship deal. The sponsor released a statement and said that after seeing the government impose sanctions on Chelsea, it was the right thing for them to do.
We recognise that this decision will impact the many Chelsea fans who follow their team passionately. However, we feel that given the circumstances, and the Government sanction that is in place, it is the right thing to do. 2/2
— Three UK (@ThreeUK) March 10, 2022
Hyundai which has been Chelsea’s official partner since 2018 said that it was currently discussing what the next steps are after learning about sanctions. The football club is currently operating on a special license that will end on May 31, 2022. The UK government will need to grant Chelsea a license exception for the club to be sold under special circumstances.
[…] to four bidders being handed over to Chelsea as the club will have the final say on the sale. Since the club’s owner Roman Abramovich is currently facing sanctions, director Marina Granovskaia will handle the proceedings alongside Chairman Bruce […]