Chelsea Sale Suspended As UK Freezes Assets Of Roman Abramovich

Roman Abramovich’s aspirations of selling Chelsea have been dashed after the UK government sanctioned the Russian businessman.

As part of the UK’s response to Russia’s invasion of Ukraine, Abramovich’s UK assets have been frozen. Chelsea’s owner was identified as a “pro-Kremlin oligarch” and was said to be “associated with a person who is or has been involved in destabilising Ukraine and undermining and threatening Ukraine’s territorial integrity, sovereignty, and independence, namely Vladimir Putin, with whom Abramovich has had a close relationship for decades” in a document published by the government on Thursday morning.

According to the document, Abramovich has had a “decades-long” tight relationship with Putin, from which he has benefited financially.

“This association has involved gaining a financial advantage or another tangible benefit from Putin and the Authorities of Russia,” the government stated.

This includes tax benefits gained by Abramovich-linked enterprises, buying and selling shares at advantageous rates from and to the state, and contracts received in the run-up to the 2018 World Cup. As a result, Abramovich has obtained preferential treatment and concessions from Putin and the Russian government.”

Abramovich has frequently denied any ties to Putin or the Russian state, as well as any wrongdoing that would warrant sanctions.

Chelsea, which Abramovich purchased in 2003, now faces an unclear future. The European champions have been granted a special license to continue operations, but they will be subject to restrictions.

They are not permitted to sell tickets, offer products, sign players or award new contracts. Season ticket holders will be able to attend games, and catering services will be available.