Chelsea FC’s owner Roman Abramovich is accused of aiding Russia’s offensives against Ukraine. The United Kingdom government has imposed sanctions upon the Russian Billionaire, freezing his overseas assets. These assets also include the ownership of Chelsea FC. The club’s operations have been deeply affected due to the geopolitics prevailing in the world at the moment.
The government of the UK will sell the ownership of Chelsea without giving any benefit to Abramovich or Russia. Although the current license does not permit the club’s selling, the government will sell the club with a new license. According to reports, at least 20 buyers have shown interest in the highly renowned club.
Chelsea’s games will continue to be played without any delays. Its players and staff, all will be paid. The season ticket holders for the home games will be allowed to attend the games. However, the further sale of tickets is prohibited.
NO TRANSFERS AND RENEWALS
As for now, Chelsea is banned from signing any new players or making any new transfers. However, they can make financial transactions due before the sanctions imposed on 10th March. Moreover, they can not extend or renew the contracts of already existing players. With several contracts expiring in summers, and unallowed transfers, the problem turns out to be a significant one of the blues.
The sanctions have caused a threat to the club’s sponsorship deals. The reports state that Chelsea’s main sponsors 3, Nike, Hyundai, and Hublot, will discontinue their contracts. The ban is also imposed on the club’s spending. However, they can do it in a limited fashion. The club will have to prove that its spendings are reasonable and necessary. It will impact Chelsea’s Champions League run negatively.
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