Chelsea owner Roman Abramovich has finally been sanctioned by the UK government for being associated with a person who is involved in destabilising Ukraine.
The Russian oligarch will have all of his UK based assets frozen including Chelsea Football Club.
The Premier League giants will now be run on a restricted basis and the sanction will also affect the sale of the club.
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Recently the Chelsea owner revealed in an official statement that he has put the club up for sale but today’s sanction means the club is now a frozen asset and it is unlikely to be sold anytime soon.
The sale of the Premier League club could only go ahead if Abramovich allows the UK government to effectively take over the process. The Russian will then be unable to benefit financially from the sale.
The London club will continue to operate under a special licence but the club will not be allowed to sell any more tickets until the end of the season.
However, season ticket holders will be able to attend games until the end of the season.
Furthermore, the Premier League club will not be able to carry out any merchandising operations or renew contracts of their current staff including players.
In addition to that, they will not be able to spend on transfers either.
Also: no merchandise sales allowed; no player transfers or new contracts; catering services will be permitted.— Martyn Ziegler (@martynziegler) March 10, 2022
With key players like Antonio Rudiger, Cesar Azpilicueta and Andreas Christensen nearing the end of their deals at Stamford Bridge, this could prove to be a massive blow for the Premier League giants.
Furthermore, the sanctions could mean that key sponsors could now decide to pull out of their agreements with the London club.
Telecommunications giant Three have already confirmed that their £40 million a year sponsorship with the Premier League club is under review.
NEW: Telecommunications company Three confirm to @TimesSport that their £40million a year sponsorship deal with Chelsea is now ‘under review’. More sponsors likely to follow.— Matt Lawton (@Lawton_Times) March 10, 2022
Meanwhile, the Chelsea supporters trust have reacted to the government’s decision on social media.
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.— Chelsea Supporters’ Trust⭐️⭐️ (@ChelseaSTrust) March 10, 2022
The sanctions on Roman Abramovich and his assets will continue until the 31st of May and the restrictions could be revoked or suspended.