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Home  /  World  /  Breezy Explainer: What do sanctions against Chelsea FC owner Abramovich mean for the club?

Breezy Explainer: What do sanctions against Chelsea FC owner Abramovich mean for the club?

by Jhanvi Mehtalia
March 11, 2022
in Breezy Explainer, Football, Sports, World
Reading Time: 3 mins read
Roman Abramovich

The UK government has sanctioned Chelsea FC owner Roman Abramovich as part of its response to Russia’s invasion of Ukraine.

He is one of seven oligarchs who received sanctions with new measures including asset freezes and travel bans.

Igor Sechin and Oleg Deripaska, both billionaires and Putin allies, are also on the list.

“There can be no safe havens” for those who supported the invasion, according to Prime Minister Boris Johnson.

Chelsea FC will be unable to sell any more tickets for games. It has to close its merchandising shop and buy or sell players on the transfer market.

The government has announced that it will issue a special license that will allow to fulfill fixtures, to pay employees, and existing ticket holders can attend matches.

Ministers are under pressure to punish Mr. Abramovich, who said earlier this month that he had made the “difficult decision” to sell Chelsea FC.

The football club is one of the frozen assets as part of Mr. Abramovich’s sanctions and its sale is on hold.

However, according to the BBC, the government may consider allowing Mr. Abramovich to apply for a special license to sell the club if he can demonstrate that he would not profit from the sale.

Mr. Abramovich, 55, has accusations of having close ties to Russian President Vladimir Putin. But he denies it.

Mr. Abramovich, who has a net worth of £9.4 billion, is “one of the few oligarchs from the 1990s to maintain prominence under Putin,” according to the authorities.

Roman Abramovich owns shares in Evraz Steel and Norilsk Nickel. In 2005, he sold a 73% stake in Russian oil company Sibneft to state-owned gas giant Gazprom for £9.87 billion.

He also likely owns a variety of properties in the United Kingdom, including a £150 million 15-bedroom home in Kensington Palace Gardens in west London.

Other than season ticket holders, no other Chelsea fans will be able to attend games.  “I know this brings some uncertainty, but the government will work with the league and clubs to keep football being played while ensuring sanctions-hit those intended,” said Nadine Dorries, Britain’s minister for sport.

“Football clubs are cultural assets and the bedrock of our communities. We`re committed to protecting them,” she also added.

Reigning Club Chelsea, the World Cup, and European Champions are now in third place in the Premier League standings. They have 53 points from 26 games played so far this season and are battling to finish in the top four.

Tags: Roman AbramovichRussia-Ukraine crisisUnited Kingdom
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