|It's a hard time for Chelsea owner Roman Abramovich and even a tougher time for Chelsea football club, where do they go from here? (Photo credit: Chelsea FC)
Chelsea learned on Thursday that their owner, Roman Abramovich has been sanctioned by the UK government following the global clampdown on Russian Oligarchs, thereby freezing his assets including the London club.
It’s been coming and the Russian billionaire was well and
truly aware. He moved earlier to circumvent this ugly eventuality but
hesitations amidst a possible end to the war sooner than later eventually
became his undoing as things are technically going south from here.
is associated with a person who is or has been involved in destabilizing
Ukraine and undermining and threatening the territorial integrity, sovereignty
and independence of Ukraine, namely Vladimir Putin, with whom Abramovich has
had a close relationship for decades," it read. "This association has
included obtaining a financial benefit or other material benefit from Putin and
the Government of Russia."
on the 26th of February transferred the management of the club to a board
of trustees and as criticisms grew over his relationship with the Russian
president, he announced he was ready to sell the club but he hesitated at the
consequence of the government’s decision to freeze Abramovich’s asset will
impact Chelsea directly and although the club can still be sold, it wouldn’t be
straightforward and the Russian will not earn a dime from the proceeds.
Blues can still fulfill the remaining fixtures of the league season under a
special license that sees the club as a social and cultural asset, but the
future is ominous especially if the war in Ukraine doesn’t end soon or the sale
plan doesn’t end well.
holders and those that have tickets to league games can still watch games at
the stadium as the acquisition of such tickets came before the sanctions;
however, cup games aren’t included in such arrangements, meaning Chelsea risk
playing champions league games behind closed doors.
Where does the
biggest problem lie? Chelsea cannot sign or sell players, they cannot review
contracts and that put them in some trouble with the likes of Antonio Rudiger, Andreas
Christensen and Cesar Azpilicueta all in their final year of contract.
The Blues will
hope there’s enough in the covers for the instalment payment for Ben Chilwell
and Timo Werner to Leicester and RB Leipzig respectfully. All summer transfer
plans remain on hold but again, the signs are not interesting.
balance from the last book balance release was £17m but that won’t be
enough for employee wages, travel costs, taxes to other clubs among other
domestic needs, while they would still be able to receive funds from existing
partners, they won’t be able to access it because of the sanctions.
are already pulling out of their deals, the rain was always going to turn to
hurricane and as it stands, the most successful English club in the last two
decades is facing uncertain futures, in every language you understand… Please
pray for Chelsea.