Chelsea owner slammed with sanctions by European Union


Chelsea owner slammed with sanctions by European Union

Chelsea owner Roman Abramovich

Chelsea owner Roman Abramovich has had his assets frozen by the European Union, a week after the UK government did the same.

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The West London club are desperate to secure a new owner amid a budget crisis, with their funds dictated by the British government in the wake of the sanctions imposed on Blues owner Roman Abramovich.

The UK government initially brought sanctions against the owner last Thursday but despite Abramovich’s assets being frozen, Chelsea were handed a new licence to continue “football-related activities” and are in negotiations with the government to amend some aspects of it.

The Chelsea owner has also been disqualified by the Premier League as a director at Chelsea on Saturday.

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The statement issued by the Premier League read:

“Following the imposition of sanctions by the UK Government, the Premier League Board has disqualified Roman Abramovich as a Director of Chelsea Football Club.

“The Board’s decision does not impact on the club’s ability to train and play its fixtures, as set out under the terms of a licence issued by the Government which expires on 31 May 2022.”

Although this decision does not impact the club’s ability to play and train, the situation at the West London Club does not look to be getting better anytime soon.

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Chelsea in great trouble

Chelsea

The sanctions have not just halted the sale of the club, it put a great dent in Chelsea‘s long-term and short-term goals, with important players like Cesar Azpilicueta and Antonio Rudiger, set to leave the club. Reports did suggest some potential buyers looking into the situation, but this has complicated things on their behalf.

The government is still open to a sale but would have to approve a new licence, on the proviso no profit would go to Roman Abramovich, who has bankrolled the club to the tune of around £1.5 billion ($2 billion).

Further, the Blues are now banned from offering new contracts to players or staff, conducting any official transfer business, selling new tickets to any games for any of their teams, including the women’s team and the junior teams, selling merchandise to fans, no stadium redevelopment, spending over 500,000 pounds on security and stewarding per home match and over 20,000 pounds as expenses in away games.

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