Ukraine war

A BILLIONAIRE basketball team owner has emerged as a leading contender to buy Chelsea after Roman Abramovich was hit by sanctions.US tycoon Antony Ressler, 61, is said to have held secret talks in Memphis with representatives for investment bank the Raine Group, which is handling the sale. 
Billionaire basketball team owner, US tycoon Antony Ressler, has emerged as a leading contender to buy ChelseaCredit: Getty
The club is up for sale after Roman Abramovich was hit by sanctionsCredit: Getty
Sources say it is possible the Atlanta Hawks owner will get involved in the “finance side” of Chelsea but there was no further information. Chelsea declined to comment. 
Ressler, who co-founded private equity firm Ares Management, dealt with Raine last year while facilitating his company’s £115million investment in US football club Inter Miami.
The source said last night: “Tony is keen to add a British football team to his sporting roster and has made no secret of that, but is prepared to drive a hard bargain in negotiations. That said, there are several other players involved.”
Former British Airways chairman Sir Martin Broughton and property investor Jonathan Goldstein are also at the centre of potential bids.
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Lifelong Blues fan Sir Martin could be drafted in to assist bids from LA Dodgers co-owner Todd Boehly and also Philadelphia 76ers basketball chief Josh Harris.
He is also in talks with several financial backers about his own bid as first-round bids are expected to be in by the end of this week, Sky News reported.
Sir Martin, who led the Liverpool takeover 12 years ago, previously ran British American Tobacco and now heads Sports Investment Partners.
Mr Goldstein, whose business empire includes Prezzo restaurants, is also part of the Boehly bid along with Swiss billionaire Hansjorg Wyss.
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Ministers stepped in yesterday to make further changes to the licence allowing Chelsea to continue operating.
The club’s matchday spend for home games was lifted from £500,000 to £900,000. Changes also include holding on to broadcast rights and prize money, which could top £100million. The club had warned the sanctions could threaten its chances of finishing the season. 
Whitehall sources have revealed changes could also be made for costs to and from fixtures, which currently stands at £20,000.
The fresh bids come as The Sun on Sunday can reveal Abramovich first began conversations about the sale last year, as tensions between Ukraine and Russia simmered.
One source said: “He instructed the Raine Group to quietly find potential buyers last year, and their representatives approached several interested parties.
“At the time, the move seemed motivated by the increase in potential buyers. But, with hindsight, he may have predicted the current situation.”
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The Government said it could issue a further licence to allow the sale — once it is satisfied where the proceeds will go.
The Department for Culture, Media and Sport said officials would work with the club to minimise the “impact on the leagues, football pyramid and fans”. More

CHELSEA’S credit cards were frozen yesterday amid mounting pressure on Roman Abramovich to give the club away for free.Bankers temporarily suspended the corporate cards in a “risk averse” response to UK sanctions slapped on Putin’s pal.
Roman Abramovich has been urged to give away Chelsea for free to save the club from going bust.Credit: AFP
Bankers temporarily suspended the corporate credit cards in response to the Government sanctions slapped on Putin pal AbramovichCredit: Alamy
Fans have made their feelings known outside the club’s ground Stamford Bridge in West LondonCredit: PA
Chelsea is haemorrhaging cash after the club was banned from selling tickets and merchandise — and telecom firm sponsors Three pulled out of their £40million-a-year deal.
And with a £28million-a-month wage bill, the team has reportedly just   over two weeks to find a new buyer or go into administration.
The Government said it is prepared to approve the 117-year-old club’s sale as long as Abramovich does not receive a penny. If he refuses and sits on the club, fans fear the five-time Premier League winners will quickly go bust.
Culture and Sport minister Chris Philp said: “As the Government licence conditions are written today, the sale would not be allowed.
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.nk-headline-heading{color:rgba(71,30,121,1);}.css-1uyse24:before{content:”;top:0;right:0;bottom:0;left:0;overflow:hidden;position:absolute;z-index:1;}.css-n392go{border-width:0 1px 1px 1px;border-style:solid;border-color:rgba(155,201,183,1);padding:12px;max-height:104px;min-height:98px;}.css-1p5s3t0{padding:0;border-width:0 1px 1px 1px;border-style:solid;border-color:rgba(155,201,183,1);padding:12px;max-height:104px;min-height:98px;}.css-124tga5{overflow:hidden;-webkit-line-clamp:3;-webkit-box-orient:vertical;display:-webkit-box;word-wrap:break-word;line-height:1;}.css-5jzxpx{overflow:hidden;-webkit-line-clamp:3;-webkit-box-orient:vertical;display:-webkit-box;word-wrap:break-word;line-height:1;}.css-i1acvs{margin:0;padding:0;color:rgba(34,99,73,1);text-transform:uppercase;-webkit-text-decoration:none;text-decoration:none;font-family:The Sun;font-size:18px;line-height:1.333;font-weight:700;letter-spacing:0%;font-stretch:normal;display:inline;}.css-i1acvs:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}BLUES NEWS .css-8h3gc3{margin:0;padding:0;color:rgba(34,37,38,1);-webkit-text-decoration:none;text-decoration:none;font-family:The Sun;font-size:18px;line-height:1.333;font-weight:700;letter-spacing:0%;font-stretch:normal;display:inline;}.css-8h3gc3:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}Abramovich ‘to SELL Chelsea despite sanctions’, Blues ‘face financial ruin’
“If a buyer emerged then it would be open to them, or the club, to approach the Government and ask for the conditions to be varied to allow a sale. But to be clear, no proposal would be accepted which saw the proceeds of any sale ending up in an unrestricted bank account owned by Abramovich.”
Mr Philp suggested Abramovich was not sanctioned earlier because his lawyers would have tried to block the move. He said: “These oligarchs are potentially very litigious so it is important to make sure that the case is watertight.”
Dan Silver, of the Chelsea Supporters’ Trust, said: “If he truly does care then he’ll walk away.
“He’s got two options. He can fight the Government, potentially spelling the end for Chelsea, or he can stay true to his word and prove it’s about love and about football.”
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It is understood Chelsea will miss out on £600,000 per match day.
Kit makers Nike are said to be considering ending their £900m deal.
It remains unclear what happens to the cash if there is a sale, with some saying it should go to Ukrainian refugees fleeing Putin’s forces.
Julian Knight, Tory MP and chairman of the select committee for sport, said: “Abramovich claims to be this great fan of Chelsea. Well if he is he needs to get a million miles away from the club now.”  He said the crisis could prove a “seminal moment” if it sparks a debate over top clubs’ ownership.
Chelsea met officials from the Department for Media and Sport and Treasury yesterday.
The club wants changes to the licence so it can raise and spend more. And insiders say the £20,000 cap on travel to fixtures is too low.
The Sun understands ministers are open to changing the cap. But the Government quashed hopes of lifting the merchandise sales ban.
The credit cards were temporarily frozen while banks worked out implications of the sanctions.
It is understood that Barclaycard suspended their account because it did not want to be found to be in breach of the licence.
The footie club wants changes to the terms of its licence so that it can raise and spend more cash and even play gamesCredit: Rex
The government has poured cold water over hopes the ban on merchandise sales could be torn upCredit: LNP
Roman Abramovich celebrates with The FIFA Club World Cup trophyCredit: GettyHelp those fleeing conflict with The Sun’s Ukraine FundPICTURES of women and children fleeing the horror of Ukraine’s devastated towns and cities have moved Sun readers to tears.

Many of you want to help the five million caught in the chaos — and now you can, by donating to The Sun’s Ukraine Fund.
Give as little as £3 or as much as you can afford and every penny will be donated to the Red Cross on the ground helping women, children, the old, the infirm and the wounded.
Donate here to help The Sun’s fund
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Texts cost your chosen donation amount (e.g. £5) +1 standard message (we receive 100%). For full T&Cs visit redcross.org.uk/mobile
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CHELSEA FC face going bust after owner Roman Abramovich was hit by crippling sanctions yesterday.The world club champions were banned from selling players or tickets, and their TV money was frozen.
Chelsea could go bust after crippling curbs were imposed on Russian owner Roman Abramovich
The official sanctions listing accused Abramovich of getting ‘financial or other material benefit’ from Russia and through his ties to close pal President Vladimir Putin
Sponsor Three suspended its £40million-a-year shirts deal as fans told of their devastation at the Government crackdown.
Foreign Secretary Liz Truss said Russian oligarchs had “the blood of Ukrainians on their hands”.
For the first time in the professional game’s history a top team was immediately barred from the transfer market, selling tickets and even earning cash from shirt sales.
Last night around 1,500 Chelsea fans arrived for the team’s Premier League match at Norwich — many in tears and embracing each other over grave concerns for the future of the West London club.
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Sun;font-size:18px;line-height:1.333;font-weight:700;letter-spacing:0%;font-stretch:normal;display:inline;}.css-i1acvs:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}THE PUTIN CONNECTION .css-8h3gc3{margin:0;padding:0;color:rgba(34,37,38,1);-webkit-text-decoration:none;text-decoration:none;font-family:The Sun;font-size:18px;line-height:1.333;font-weight:700;letter-spacing:0%;font-stretch:normal;display:inline;}.css-8h3gc3:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}Inside Russian oligarch Roman Abramovich’s relationship with Putin
Distraught Hadley Smith, 20, from Romford, East London, said: “It’s awful. I am shocked and upset.   The fans will suffer and we don’t deserve this. I’m gutted.
“I fear the worst. I fear for the future. What if this is the end?”
Plumber John Davidson, 56, from Basildon, Essex, said: “I’m Chelsea until I die. I’m so worried. We’re fighting for survival.”
Chelsea fans chanted Abramovich’s name in the first few minutes of last night’s match which the Blues won 3-1. Norwich fans taunted them by responding: “You’re going bust, you’re going bust.”
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Incredibly, the fears for Chelsea’s existence come just a month after the team won Fifa’s Club World Cup. It has also enjoyed two decades of astonishing success.
The tough sanctions mean Chelsea are banned from selling match tickets, barred from buying or selling and players, and stripped of money made from shirt sales or other merchandise.
The club is also stopped from spending broadcast cash or prize money and will be limited to a £500,000 per game spend on security, stewarding and catering.
Experts said the curbs could yet plunge the Premier League giants into administration.
Professor Ellis Cashmore, a sports and culture expert, said: “In sporting terms this is seismic. Chelsea probably has enough liquidity to make it through to the summer, and perhaps a bit beyond — but you can bet star players will be on the phone to their agents.
“The revenue streams are being compromised and the cash will eventually run out. This is not a conventional business, it’s been funded throughout by Abramovich.”
The oligarch, 55, was sanctioned by the UK Government as part of its response to Russia’s invasion of Ukraine. He was told the news by email at 9am, learning that the club he valued at £3billion and has been trying to sell quickly was, at a stroke, worthless to him.
Whitehall sources warned he would not get a penny from any fire sale, leaving the club in limbo.
Chelsea, with a £333million-a-year wage bill and around 1,000 staff, was granted a special licence until May 31 to carry on trading.
It made a loss of £145.6million last year and has been bankrolled by Abramovich to the tune of around £1.5billion since his sensational takeover in 2003. In another hammer blow, Chelsea will be limited to spending £20,000 travel expenses per match.
Their 28,000 season ticket holders will still be allowed to attend home games, but no new tickets can be sold — costing the club an estimated £600,000 per match.
Within hours of the sanctions, mobile phone network Three said it was suspending its £40million-a-year shirt sponsorship deal.
Car giant Hyundai said it was “assessing” its own multi-million shirt sleeve sponsorship contract. Abramovich was one of seven ­oligarchs hit by fresh curbs. The official sanctions listing accused him of getting “financial or other material benefit” from Russia and through his ties to close pal President Vladimir Putin.
Abramovich was also accused of “destabilising Ukraine” through his control of a firm “potentially supplying steel to the Russian military” for use in tanks.
 PM Boris Johnson said: “There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine.” Foreign Secretary Liz Truss said of the oligarchs: “With their close links to Putin they are complicit in his aggression. The blood of the Ukrainian people is on their hands.”
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The Chelsea Supporters Trust called for fans to be fully included in talks on the way forward.
It said: “The CST implores the Government to conduct a swift process to minimise the uncertainty over Chelsea’s future and for supporters to be given a golden share as part of a sale of the club.”
Fans’ shut shop woeFANS visiting Stamford Bridge yesterday told of their anger and shock at sanctions.
One family paid £30,000 to fly to London and wept when they learned the megastore had shut.
Faris Abdullah, 20, and cousin Syahmi Anuar saved for months for the trip from Malaysia and missed the closure by minutes.
Faris said: “I’ve been waiting for this moment all my life. I’m in tears. We got to London last night and I couldn’t sleep with excitement. I have no idea what will happen to the club now. As fans, we’ve done nothing wrong.”
Syahmi added: “All my bedroom is decorated Chelsea. The plan was to take back some shirts for friends. This has ruined our visit.”
Before the store shut at 11am, Kim Boyd, 36, bought the last shirts for sons Jamie, seven, and Brody, six. Kim, visiting from South Africa, said: “We finished the transaction then security came. Customers behind us had to hand back their stuff.”
Martyn Hardiman, 29, from Guildford, Surrey, barely got a shirt for son Peter, two, and said: “The shop shut seconds later. It’s mad.”
Taxi driver Paul Richards, 44, added: “I’m not a season ticket holder so I can’t see any more games. I fear for the future.”

Chelsea have enjoyed two decades of astonishing success under Abramovich
Last night around 1,500 Chelsea fans arrived for the team’s Premier League match at Norwich
Chelsea fans chanted Abramovich’s name in the first few minutes
Chelsea have been bankrolled by Abramovich to the tune of around £1.5billion since his takeover in 2003 More