Chelsea Could Go Bust In Weeks After UK Sanctions On Oligarch Owner Roman Abramovich

Chelsea are in turmoil after owner Roman Abramovich was sanctioned by the UK over his links to Vladimir Putin, plunging the club’s future into doubt.

The dramatic news on Thursday effectively means the Russian-born billionaire oligarch can no longer press ahead with selling the club.

However, Chelsea can request special dispensation, which would be considered if the Government views a change of ownership in the best interests of the club, provided it does not benefit Abramovich.

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In that scenario, it is likely that the Government would take control of the sale and the proceeds would be frozen or go into a charitable fund, possibly for the war victims in Ukraine.

That effectively leaves Abramovich with two options: agree to the Government’s conditions and lose the club for nothing, or let Chelsea slowly rot.

It is likely the Russian billionaire will proceed with the sale to preserve the club’s future, even though that means he would not receive a penny for an asset he was looking to sell for £3bn last week.

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A number of parties remain in the running, including Candy, whose attempts to buy Chelsea were revealed by Sportsmail earlier this week.

Chelsea were holding talks on Thursday night with the Government amid concerns they will struggle to complete the campaign.

The Blues could lose millions in sponsorship revenue following Thursday’s developments. Shirt sponsors Three have put their £40m agreement on hold and kit suppliers Nike, who agreed a 15-year, £900m deal with Chelsea in 2016, are considering walking away. That would see the club miss out on £540m.

To top it all, Chelsea’s rivals are lining up to take advantage of their plight, with two players who were due to sign for the Blues’ academy already approached by other high-ranking Premier League clubs, given the ban on the Blues bringing in fresh talent.

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