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Post by rugbytoffee on Mar 10, 2022 10:04:59 GMT
 The 55-year-old put Chelsea up for sale on March 2 in the wake of Russia’s continued invasion of Ukraine. Abramovich has owned Chelsea since 2003 and has always staunchly denied any current political links to Russia’s ruling elite, but Boris Johnson’s Government has now frozen all his UK assets. Chelsea will be given a special licence to continue operation, but the sale of the Stamford Bridge club is now on hold. The shape of Chelsea’s long-term future has naturally been thrown into doubt, but Government ministers were quick to insist any damage would be limited. Culture Secretary Nadine Dorries said on Twitter: “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 & 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.” |
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Post by rugbytoffee on Mar 10, 2022 10:07:23 GMT
Chelsea FC was today banned from selling match tickets or signing new players and must close its club shop after Roman Abramovich was added to the UK's sanctions list.
The Russian oligarch has been prohibited from transactions with UK individuals and businesses - meaning his plan to sell the West London club looks impossible.
Chelsea's status as a 'significant cultural asset' means it has been granted a special licence to continue playing, but Abramovich will be deprived of any profits.
This means only existing ticket holders will be allowed to attend games. This includes fans with season tickets, of which there are around 28,000 at Stamford Bridge out of a 41,837 capacity.
The club will not be able to agree any new contracts, preventing it from engaging in the summer transfer market, but existing staff and players will still be paid and catering services provided at matches.
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Post by rugbytoffee on Mar 11, 2022 22:06:43 GMT
Chelsea have had several accounts and credit cards suspended temporarily following sanctions imposed on club owner Roman Abramovich by the UK government, British media reported Friday.
Russian-born billionaire Abramovich had all his British assets frozen on Thursday barring Chelsea, with the Premier League club allowed to continue with "football-related activities".
But the European champions cannot operate as a business and have been banned from selling match tickets or merchandise.
The Independent was one of several British outlets that reported Chelsea had been in discussions with the government in the hope of amending the license and easing the restrictions but were hit on Friday when banks suspended the club's accounts.
Abramovich, 55, was one of a further seven more oligarchs hit by fresh UK sanctions on Thursday following Russia's invasion of Ukraine.
All seven are described as part of Russian President Vladimir Putin's inner circle.
Abramovich had already announced he was willing to sell Chelsea, who won 19 major trophies in his 19-year reign.
Chelsea's strict licence is designed to ensure Abramovich will not profit from the London club's continued operations.
The commercial fallout became apparent as mobile phone firm Three announced it was suspending its sponsorship deal with Chelsea, and demanded its logo be removed from players' shirts.
Chelsea put their off-field turmoil to one side to beat Premier League strugglers Norwich 3-1 on Thursday.
Abramovich bought Chelsea in 2003, turning the perennial also-rans into serial winners with unlimited transfer funds after he became rich on the chaotic privatisation of state assets in 1990s Russia.
He has denied claims that he bought the Stamford Bridge club on Putin's orders, to expand Russia's influence abroad in the early 2000s.
Abramovich put Chelsea up for sale on March 2, pledging to write off the Blues' £1.5 billion ($1.95 billion) debt and invest all sale proceeds into a new charitable foundation to aid victims of the conflict in Ukraine.
© 2022 AFP
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Post by rugbytoffee on Mar 14, 2022 20:24:05 GMT
A consortium led by American billionaire Todd Boehly and British entrepreneur Jonathan Goldstein has emerged as the frontrunner to complete a takeover of Chelsea FC.
Current owner Roman Abramovich put the club up for sale on 2 March before sanctions were imposed on him by the UK government following Russia's invasion of neighbouring Ukraine - a result of his alleged links to the Kremlin and president Vladimir Putin.
Chelsea are now effectively under a transfer embargo, new contracts cannot be offered and tickets cannot be sold with the Russian-Israeli unable to make money in the UK.
However, the sale of the club can still be negotiated with a special licence, although the government has assumed control of the transaction and will have a say in which offer is selected, with Abramovich unable to profit.
London-based property tycoon Goldstein was revealed to be the third member of a consortium including Boehly and Swiss billionaire Hansjorg Wyss over the weekend, and according to The Times that group has emerged as the leading contender to complete a takeover at Stamford Bridge.
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