Abramovich announced this month that he plans to sell Chelsea “for the benefit of the club, fans, staff and club sponsors and associates”. This came after he announced that he had given the club’s “responsibility” to the trustees of the club’s trust.
But the new sanctions will freeze his assets and bar him from “doing business with individuals and businesses in the UK,” the UK Foreign Office said in a statement on Thursday. The millionaire will also face a travel ban that will bar him from entering the UK.
Current season ticket holders and fans who purchased tickets before Thursday will be allowed to attend the tournament.
The report says fans can buy food and drink at these matches, and under restrictions, third-party retailers who bought or produced club items before Thursday will be allowed to sell their current shares until they pay Chelsea. For now, the special license will last until May 31st.
The Chelsea Supporters’ Trust – a non-profit independent trust set up to “promote” the club’s group to “take into account the interests of all supporters” for other purposes, expressed “concern” over the move.
“CST urges the government to expedite the process of reducing the uncertainty about Chelsea’s future by allowing supporters and supporters to be offered a share of the gold as part of the club’s sale.”
Implications for Chelsea and its players
Ben Peppy, a sports business expert at JMW Solicitors, told CNN Sport that Chelsea could not be sold unless the UK government introduced a new license.
“Abramovic will not be allowed to put any money in the club or take any money from it. As far as we know, he has lent billions of pounds to Chelsea and செல் 1.5 billion ($ 1.98 billion) owed to Chelsea. I am currently indebted to Abramovich,” he said.
“We do not know where the money to pay the players comes from – whether it comes from the business’s daily business i.e. broadcast revenue, business revenue, etc. Obviously, competition day revenue contributes to it, and can not sell new tickets, nor sell new products that benefit the club or Abramovich – It only benefits retailers. “
This could have significant implications for the club, which are already considering their contracts with sponsors Chelsea.
Chelsea’s shirt sponsor, mobile phone and telecommunications company CNN, said on Thursday it was reconsidering its relationship with the club after the UK government allowed Abramovich.
“If Mr Abramovich is unable to finance the club and you have other sources of commercial revenue for the club, the sanctions will begin to dry up, and the long-term effects will not be significant,” Peppy said.
Although Chelsea can negotiate with potential buyers, they will not sell the club until a special license is issued, he added.
“If they don’t generate any business competition day income, if they can’t get shareholder loans, where does the money come from to put a stop to the club?
“I expect the new owner to be found. But it’s going to be a very different sales process than it was last week.”
Pepi said the ban would have an impact on Chelsea’s players as well.
“Immediate short-term player contracts are declining and those players have the right to leave in free exchange at the end of the season as their contract expires.”
For players with contracts beyond the end of the season, nothing will change until May 31, Peppy said.
For a long time, he said, “It goes to a broader, broader theme, such as the cultural, political and social impact of football, in a way that is more powerful than ever.
“Also, for a club like Chelsea, for a club like Newcastle – do the players want to sign at Chelsea, where they know the fluctuations in the ownership structure of the football club?”
Abramovich is valued at £ 9.4 billion ($ 12.36 billion), according to the UK government.
The United Kingdom is “absolutely certain” to allow Russian oligarchy, and British Foreign Secretary Lis Truss said earlier this month that the United Kingdom was acting by allowing a “more list” of oligarchy.
“None of Putin’s allies have anywhere to hide,” Truss said.
CNN’s George Ramsay and Alex Closock contributed to the reporting.
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