United Kingdom freezes assets of Chelsea FC owner Roman Abramovich
The United Kingdom has frozen the assets of Chelsea FC owner Roman Abramovich.
Thursday's sanctions against multiple individuals in response to Russia's invasion of Ukraine include the English Premier League team. Chelsea, however, will be allowed to continue to operate and won't be forced to suspend its operation because of the actions against its Russian owner. Abramovich has owned Chelsea since 2003.
U.K. Secretary of State Nadine Dorries made it clear in a Twitter thread Thursday morning that Chelsea would be able to continue to play games and that everyone who plays and works for the team would continue to get paid.
2/4 Our priority is to hold those who have enabled the Putin regime to account. Today’s sanctions obviously have a direct impact on Chlesea & its fans. We have been working hard to ensure the club & the national game are not unnecessarily harmed by these important sanctions.
— Nadine Dorries (@NadineDorries) March 10, 2022
4/4 I know this brings some uncertainty, but the Government will work with the league & clubs to keep football being played while ensuring sanctions hit those intended. Football clubs are cultural assets and the bedrock of our communities. We're committed to protecting them.
— Nadine Dorries (@NadineDorries) March 10, 2022
The sanctions mean that Abramovich cannot make any transactions in the U.K. and he is barred from entering the country. And while Chelsea will be allowed to continue to operate, it won't be business as normal, according to the BBC.
The government said it would issue a special licence that allows fixtures to be fulfilled, staff to be paid and existing ticket holders to attend matches.
However, the club cannot sell any more tickets for games, its merchandise shop will be closed, and it will be unable to buy or sell players on the transfer market.
Prime Minister Boris Johnson said there can be no "safe haven" for anyone who has supported Russian President Vladimir Putin and his decision to invade Ukraine. Abramovich is a billionaire investor and also a former Russian politician, having previously served as the governor of Chukotka. He played a key role in the transition from Boris Yeltsin to Putin and has been reported to have a close relationship with the current Russian leader.
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.
(2/2)— Chelsea Supporters’ Trust⭐️⭐️ (@ChelseaSTrust) March 10, 2022
That sale is also in jeopardy, at least for the short term. Abramovich reportedly cannot sell the team unless he gives control of the process to the U.K. government and doesn't receive any of the money the team fetches.would go to a fund designated to help Ukrainians affected by the invasion. Abramovich bought the team for less than $200 million but has provided nearly $2 billion in loans to the parent company listed as Chelsea's owner.c
That sale is also in jeopardy, at least for the short term. Abramovich reportedly cannot sell the team unless he gives control of the process to the U.K. government and doesn't receive any of the money the team fetches.
[Join the Yahoo Fantasy Tourney Pick'Em $25K Best Bracket Contest]
Abramovich's wealth has helped make Chelsea one of the most successful soccer clubs in the world over the past two decades. The team has won every trophy possible in Abramovich's tenure as owner.
Chelsea is currently third in the English Premier League table behind Manchester City and Liverpool. The defending Champions League winners look set to comfortably qualify for the European tournament again next season and have a 2-0 lead on Lille ahead of the second leg of the Champions League round-of-16 tie next week.
