British sanctions threaten Chelsea FC

Abramovich, who bought Chelsea FC in 2003, had previously announced that he was looking to sell the club in a statement issued on 2 March in the wake of Russia’s military operation in Ukraine. Since then, many interested parties have submitted offers to acquire the club, and sources have confirmed that there are 10 negotiating parties to buy Chelsea, including those who offered three billion pounds. With the sanctions imposed on Abramovich, including an asset freeze, the sale will not take place, but Chelsea have been granted a sports license to continue the business. In this regard, the British Minister of Culture, Media and Sports, Nadine Doris, confirmed in a tweet on social media: “To ensure the club continues to compete and operate, we are issuing a special license that will allow the fulfillment of equipment, and the payment of salaries to employees and current ticket holders to attend the matches while definitively denying Abramovich, benefit from his ownership of the club. She then added: “I know this brings a bit of uncertainty, but the government will work with the league and clubs to keep playing football while ensuring that sanctions are imposed. Football clubs are cultural assets and are the bedrock of our societies. We are committed to protecting it.”

The club is set to be affected in several ways including the inability to sell tickets, with only season ticket holders being able to attend matches. In addition, nothing related to the club will be allowed to be sold, future deals will be suspended and player contracts will not be renewed, threatening the futures of Andreas Christensen, Cesar Azpilicueta and Antonio Rudiger, whose contracts expire in the summer.

Sanctions against Roman Abramovich will damage the club’s transfer market and foreign participation

Under the sports licence, Chelsea can pay players and staff salaries as well as transfer fees owed. In contrast, the license prohibits Chelsea spending more than £20,000 on any trip abroad, which raises serious questions about Champions League logistics, starting with a meeting with French club Lille next Wednesday.
British Foreign Secretary Liz Truss announced a complete asset freeze and travel ban on six other Russian businessmen in order to “increase pressure” on Moscow. A British Foreign Office statement said that the seven businessmen are closely linked to the Kremlin, including Russian billionaire Roman Abramovich, owner of Chelsea Football Club, and industrialist Oleg Deripaska. The government’s sanctions list alleges: “Abramovich is linked to a person who participated in the destabilization of Ukraine and threatens the territorial integrity, sovereignty and independence of Ukraine, specifically Vladimir Putin, with whom he has had a close relationship for decades.”
The British government estimated Abramovich’s net worth at 9.4 billion pounds, and he led Chelsea to 19 titles, including five in the English Premier League and two in the Champions League, since 2003.