ROMAN Abramovich has been BANNED from selling Chelsea after being slapped with sanctions today for being a Putin crony.
The club was thrown into limbo this morning after the oligarch had his assets frozen and blocked from visiting or doing business in Britain.
Chelsea has been granted a special licence by the government to continue playing, allowing tonight’s match against Norwich to kick off.
Fans who already have tickets will still be able to attend games, but the club is banned from selling any more tickets.
However The Sun understands Chelsea can still release tickets to rival clubs so their away fans can come to matches.
Chelsea is also forbidden from selling any club merchandise from its official stores. Strips can still be bought from shops like JD Sports but the club cannot get a cut.
Some of their only remaining sources of cash will be selling pies and burgers to fans at Stamford Bridge and the broadcasting rights.
Under a cloud of Putin cronyism Abramovic put the club on the market last week and vowed to put the proceeds towards the Ukrainian conflict.
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Inside Russian oligarch Roman Abramovich’s relationship with Putin
Today’s fresh round of sanctions will prevent a sale from happening unless ministers specifically allow it.
The Government “is open” to a sale but is clear Abramovich will not get a penny.
Under the terms of the licence – which expires on May 31 – players and staff can still be paid but Abramovich is barred from pumping anymore money into the club, leaving its future uncertain.
It will likely mean an effective salary freeze for stars who will not be awarded new contracts.
The club also has a £20,000 travel cap per game, meaning players and coaching staff could have to slum it rather than take private jets.
As Chelsea’s future is unclear:
Abramovich is among seven Putin cronies sanctioned today to keep twisting the thumbscrews on Russia for waging a cruel war on Ukraine.
He has a net worth of £9.4billion and a sprawling property portfolio in Britain – which he can no longer visit after being hit with a travel ban.
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It includes a luxury Kensington Palace Garden mansion and penthouse in Chelsea.
Part of Abramovich’s wealth also includes a Code d’Azur mansion which was lived in by King Edward, who abdicated the British throne in 1936, along with a bond style ski lodge and ranch in the US.
He bought Chelsea in 2003 but has not attended a match at Stamford Bridge for months.
The last home game attended by Abramovich was when Chelsea drew 1-1 with Man Utd at Stamford Bridge in November 2021.
The Blues owner was then seen celebrating when his side became champions of the world in Abu Dhabi on February 12 this year.
The billionaire was seen grinning holding the World Cup as Chelsea won 2-1 against Palmeiras.
ABRAMOVICH SANCTIONED: WHAT IT MEANS FOR CHELSEA
By MARTIN LIPTON
CHELSEA’S future has been plunged into doubt after Roman Abramovich was accused of being involved in funding and equipping Russia’s invasion of Ukraine and placed on the Uk sanctions list.
The move freezes Abramovich’s assets, including Chelsea.
And while the club will be allowed to continue to operate and play matches under a special licence, it can only do so under onerous conditions that also prevent the sale of the Blues.
SunSport attempts to explain what it all means:
Are Chelsea able to keep playing?
Yes, even though all other assets owned by Abramovich have been “frozen immediately” by the Government. Chelsea is one of those assets but “General Licence INT/2022/1327076” ensures the club can remain active. The licence “allows Chelsea Football Club to undertake activities that would otherwise be prohibited by financial sanctions, meaning the club can fulfil its fixtures and carry out football business, without undermining the impact of sanctions”.
What does that mean?
The club remains allowed transactions relating to the “reasonable costs necessary to host fixtures”, including providing security, catering and stewards. Wages of all employees can be met and paid, along with the costs of travelling to matches and pre-existing contractual payments regarding previous transfer and loan dealings.
And what about the fans?
The advice from the Office of Financial Sanctions Implementation says that the sanctions order means Chelsea cannot take any more money “at the gate” or for future tickets that have not been purchased already.
In simple terms, that allows season ticket holders or those who have already bought tickets for games to attend fixtures – but nobody else. They can buy food and drink at the game, too.
Hang on, that’s unfair – how can away fans attend for games where the tickets haven’t been on sale?
Prem chiefs are already seeking a solution. The most likely solution would be for Chelsea to give away their away fan allocation – 3,000 tickets per match – to their opponents for free, with any proceeds of £30 per ticket sale going direct to the Premier League. That money might then be sent to Ukraine-based humanitarian relief.
But the club Megastore – that’s been shut down?
Probably, although maybe not. The licence “permits parties who purchased or produced club merchandise prior to 10 March 2022 to continue selling that merchandise” but none of that money can go to Chelsea or, directly or indirectly, Abramovich. Unless there is a whole new bank account separate from the club for Megastore revenues – and that applies to ALL of the club’s High Street stores as well – they cannot trade with immediate effect.
And the games due to be on TV – starting with Newcastle on Sunday?
The ongoing TV contracts, domestic and overseas, can continue as normal. The OFSI says broadcasters are “permitted” to screen games “under pre-existing arrangements” and that contractually-agreed broadcast payments “related to any fixtures” can be paid.
But does that mean no prize money from the Prem – or Uefa?
Again, a strict reading of the regulations could mean that happening as those payments would not be “related to any fixtures”. It’s going to be an interesting time for the Prem lawyers, too.
Okay – but Abramovich was looking to sell. Is that out of the window?
For now, yes. The freezing of Abramovich’s assets also preclude ANY financial dealings from which he might benefit. And a sale would mean money into his bank accounts, soi that’s a no-no. That deadline of interest due on Tuesday has suddenly been rendered redundant.
And how does it impact the summer? Chelsea would normally have been active in the market….is that off the agenda now?
Not entirely clear – but, probably, yes. The sanctioning means, in the first place, that there can be no funding of the club’s activities from the owner or his related companies.
But any player sales would, normally, mean money going into an Abramovich-owned entity, which would be breaking the Law. And it is equally an offence to receive money from an Abramovich company.
Any bank or lawyer facilitating a transaction would be liable to prosecution, too.
Theoretically, it means Chelsea cannot offer any new contracts to current players either.
Of course, the Premier League may seek to intervene to grant a further loophole at the end of the season. But, for now, Chelsea are in total transfer limbo.
Culture Secretary Nadine Dorries is today speaking with the Premier League and Chelsea – who only found out at 9am today.
She said: “Football clubs are cultural assets and the bedrock of our communities. We’re committed to protecting them.”
Sources said it was vital Chelsea continued to function as the whole Premier League would go into meltdown if it stopped.
Chelsea said in a statement: “We will fulfil our men’s and women’s team fixtures today against Norwich and West Ham, respectively, and intend to engage in discussions with the UK Government regarding the scope of the licence.
“This will include seeking permission for the licence to be amended in order to allow the Club to operate as normal as possible.
“We will also be seeking guidance from the UK Government on the impact of these measures on the Chelsea Foundation and its important work in our communities.”
SANCTION STATIONS
Abramovich – who sold a 73 per cent stake in Russian oil firm Sibneft for £9.87 billion in 2005 – has not yet been sanctioned by the US or the EU.
Ministers were under enormous pressure to hit the Russian-Israeli billionaire after he was revealed to be a person “of interest” to the Home Office.
His once business partner Oleg Deripaska – an energy tycoon worth £2billion – has also been sanctioned today.
Kremlin cronies Igor Sechin, Andrey Kostin, Alexei Miller, Nikolai Tokarev and Dmitri Lebedev are also being targeted.
It brings the total number of stooges sanctioned since Russia invading Ukraine to 18.
Imposing the swingeing sanctions today Boris Johnson said: “There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine.
“Today’s sanctions are the latest step in the UK’s unwavering support for the Ukrainian people.
“We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies.”
Foreign Secretary Liz Truss added: “Today’s sanctions show once again that oligarchs and kleptocrats have no place in our economy or society.
“With their close links to Putin they are complicit in his aggression.
“The blood of the Ukrainian people is on their hands. They should hang their heads in shame.”
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Source: Soccer - thesun.co.uk
