Chelsea sale on hold after Roman Abramovich added to sanctions list but club WILL continue to operate

Roman Abramovich was this morning sanctioned by the UK Government, blocking his immediate plans to sell the European champions and resulting in huge implications for fans.

The Russian oligarch has had his assets frozen because of his links with Russia’s president, Vladimir Putin, it was confirmed.

The news means his attempts to sell the club — which were hastily announced last week — have been blocked for now, despite prospective buyers from around the world declaring an interest.

A sale may yet go ahead, but Abramovich would have to hand over the process to the UK Government, and it would be under the strict proviso that he does not benefit financially in any way.

Despite today’s sanctions, Chelsea will still be allowed to operate, after being granted a special licence to continue football-related activity.

That still leaves massive doubts over the club’s future, with sanctions meaning:

  • No new tickets allowed to be sold.
  • The club face a transfer embargo, with loans and permanent deals banned.
  • No monies from merchandising allowed to go to Chelsea, with the club shop closed.
  • Strict limits on costs of hosting home matches and travel for away fixtures.
  • Broadcast revenues frozen.

Shirt sponsors Three, meanwhile, has said it is“reviewing the situation and are in discussions with Chelsea”.

Chelsea were still coming to terms with the news this morning as the Government stepped up its pressure on Putin following Russia’s invasion of Ukraine.

Abramovich is one of seven oligarchs targeted in the latest round of sanctions. Those sanctions include a ban on transactions with UK individuals and businesses, as well as a travel ban. There are also transport sanctions.

The immediate impact has been to block Abramovich’s attempts to sell up. He was hoping to demand as much as £4billion for the club he bought in 2003, but potential buyers, including property tycoon Nick Candy, have so far indicated they would only be willing to offer in the region of £2.5bn.

Chelsea football club owner Roman Abramovich has had his assets frozen by the UK Government (Rebecca Naden/PA)
PA Wire

A deadline for official bids was March 15 — next Tuesday — but there is now major doubt over any proposed sale.

While the current sanctions do not permit a sale, Standard Sport understands the Government would consider an application for a licence to allow it to go ahead. But any such licence would not allow Abramovich to benefit from the sale of the asset while subject to sanctions.

Abramovich’s spokesperson did not respond to requests for a comment this morning, placing in doubt his plans going forward.

While the ongoing uncertainty about the ownership of the club is a concern to fans, so is the immediate impact on them. The licence means only season ticket-holders or fans who have already purchased tickets will be allowed to attend games for the foreseeable future. That would have even wider-reaching implications should the licence carry on until next season.

Chelsea Supporters’ Trust today pleaded with the Government to include them in any plans going forward. A spokesperson said: “The CST notes with concern the Government’s statement regarding the owner.

“Supporters must be involved in any conversation regarding ongoing impacts on the club and its global fan-base.

“The CST implores the Government to conduct a swift process to minimise the uncertainty over Chelsea’s future for supporters and for supporters to be given a golden share as part of a sale of the club.”

Meanwhile, Thomas Tuchel’s plans to strengthen his team in the summer will also be blocked unless a sale goes through.

And the future of out-of-contract players such as Antonio Rudiger, Andreas Christensen and club captain Cesar Azpilicueta are in even greater doubt.

Prime Minister Boris Johnson has come under increasing pressure to sanction Abramovich.

Roman Abramovich and Chelsea through the years in pictures

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Following today’s announcement, he said: “There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine.

“Today’s sanctions are the latest step in the UK’s unwavering support for the Ukrainian people. We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies.”

Foreign Secretary Liz Truss added: “Today’s sanctions show once again that oligarchs and kleptocrats have no place in our economy or society. With their close links to Putin they are complicit in his aggression.

Chelsea FC v Lille OSC: Round Of Sixteen Leg One - UEFA Champions League
Chelsea FC via Getty Images

“The blood of the Ukrainian people is on their hands. They should hang their heads in shame.

“Our support for Ukraine will not waver. We will not stop in this mission to ramp up the pressure on the Putin regime and choke off funds to his brutal war machine.”

Abramovich has stakes in steel giant Evraz, Norilsk Nickel and owns Chelsea. He sold a 73 per cent stake in Russian oil firm Sibneft to state-owned gas titan Gazprom for £9.87bn in 2005. His net worth is an estimated £9.4bn.

He is one of the few oligarchs from the 1990s to maintain prominence under Putin.

A number of interested parties have already made moves for Chelsea following Abramovich’s decision to sell. The US-Swiss consortium of Todd Boehly and Hansjorg Wyss are still believed to be keen to push ahead with their bid, which was officially placed this week. Candy is one of a host of other potential buyers, with the Chelsea fan keen to include the redevelopment of Stamford Bridge in his plans.

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