What Abramovich’s sanction means for Chelsea, EPL

According to Reuters, there have been imposed asset freezes on Russian businessmen Roman Abramovich, Igor Sechin, Oleg Deripaska, and Dmitri Lebedev, after they were added to the country’s sanctions list.

“There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine,” British Prime Minister Boris Johnson said.

“Today’s sanctions are the latest step in the UK’s unwavering support for the Ukrainian people. We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals, and illegal occupation of sovereign allies.”

Mr Abramovich put up Chelsea FC for sale last week after transferring the day-to-day running of the club to the Chelsea Foundation, but the sanctions mean Chelsea cannot be sold in the interim though they will be allowed to continue to operate as a business entity.

With about 800 people employed by the club and a capital expenditure north of $450 million per annum, it is also in the best interest of the UK government to grant the club a temporary reprieve, despite the sanctions on Abramovich.

Nadine Dorries, the Culture Secretary, revealed the current European and world champions will be granted a “special license to continue to compete in the EPL, and fulfilling their upcoming fixtures and also for the “staff to be paid and existing ticket holders to attend matches”.

Chelsea faces Norwich in the Premier League on Thursday as they continue a top-four finish.