Roman Abramovich: UK sanctions Russian oligarch and Chelsea owner
Abramovich announced this month he plans to sell Chelsea, as it is “in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.” This came after he declared he gave “stewardship” of the club over to trustees of the club’s charitable foundation.
But the new sanctions will see his assets frozen and will prohibit “transactions with UK individuals and businesses,” the UK’s Foreign, Commonwealth & Development Office said in a statement Thursday. The billionaire will also face a travel ban forbidding him to enter the UK.
Existing season ticket holders will be allowed to attend matches as well as fans who purchased tickets prior to Thursday.
Fans can buy food and drink at these matches, according to the statement, and under the sanctions, third party retailers who bought or produced club merchandise prior to Thursday will be allowed to sell their existing stocks as long as no money is given to Chelsea. For now, the special license lasts until May 31.
The Chelsea Supporters’ Trust — a non-profit independent trust set up to “encourage” the club’s board to “take into account the interests of all supporters” amongst other purposes — expressed “concern” over the move.
“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.”
Ramifications for Chelsea — and its players
Ben Peppi, sports commercial expert at JMW Solicitors, told CNN Sport that unless the UK government introduces a new license, Chelsea can’t be sold.
“Abramovich won’t be allowed to put any money into the club or take any money out of it. As we know, he has funded Chelsea to the tune of billions of pounds and has a £1.5 billion ($1.98 billion) loan that Chelsea currently owes to Abramovich,” he said.
“We don’t currently know where the money to pay players is coming from — whether it just be coming from kind of day-to-day trading the business i.e. broadcast revenue, commercial revenue. Obviously, matchday revenue contributes to that, and we know that no new tickets can be sold, no new merchandise can be sold that benefits either the club or Abramovich — it can only benefit the retailers.”
This could have significant implications for the club, which is already seeing sponsors considering their contracts with Chelsea.
Chelsea’s shirt sponsor Three, the mobile phone and…
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