Why Chelsea owner Roman Abramovich has been sanctioned by the UK government

Chelsea's club credit cards have been temporarily suspended by Barclays in the wake of Roman Abramovich being sanctioned by the UK government.

Chelsea's employees who have corporate credit cards are unable to use them at the moment.

It was reported earlier this evening that the club's Barclays bank account had been frozen, but Chelsea now say that bank account is still operational this evening.

The UK government on Thursday gave Chelsea a license to continue with football-related activities after Abramovich had "his assets frozen, a prohibition on transactions with UK individuals and businesses, a travel ban and transport sanctions" imposed on him.

The sanctions are intended to stop the 55-year-old from making any money in the UK, but the government has granted Chelsea a special license to allow fixtures to be fulfilled, staff to be paid and existing ticket holders to attend matches.

However, Chelsea cannot offer new contracts to players or staff, conduct any transfer business or sell new tickets to matches as things stand.

Chelsea are scheduled to play Newcastle United, live on Sky Sports, on Sunday.

Government wants Chelsea sold as quickly as possible The UK government wants Chelsea to be sold as quickly as possible, as long it is satisfied Abramovich will not benefit from the transaction.

UK sanctions mean Abramovich is not allowed to sell Chelsea at the moment, but the government is willing to issue a special license for the club to be sold.

At least 10 interested parties are still interested in buying the club and are in contact with investment bank The Rhine Group, which is handling the sale.

The government is committed to making sure Chelsea have a long-term owner who will look after the best interests of the club.

The government is also considering amending some of the restrictions it has placed on Chelsea, so the club can stay in business.

At the moment, Chelsea are not allowed to sell tickets for home games or any club merchandise.

They are also only allowed to spend up to 500,000 to stage home games and up to �20,000 on travel to away games.

Chelsea have asked the government to look again at the restrictions.

The government wants to make sure Chelsea are able to carry on their football-related activities.

Sky Sports News' Caves Sheol reports: "Technically, Chelsea should not be in business at the moment, as their owner is sanctioned in the United Kingdom.

"Roman Abramovich isn't allowed to conduct any business.

But the government have given Chelsea a special license as they are a culturally significant asset, which will let them carry on their football-related activity.

Chelsea believes those restrictions are too tight, and they have been in talks with the government about changing those restrictions.

Chelsea believe if these restrictions stay in place, they won't be able to complete the season.

" What is the latest with Chelsea's sponsors? Chelsea's shirt sponsor Three, the mobile phone and telecommunications company, says it has suspended its relationship with the club after the government announced sanctions on Abramovich.

A Three spokesperson said: "In light of the government's recently announced sanctions, we have requested Chelsea Football Club temporarily suspend our sponsorship of the club, including the removal of our brand from shirts and around the stadium until further notice.

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Comments
Azimun Nahar - Mar 12, 2022, 7:18 AM - Add Reply

Good News

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