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Friday, December 2, 2022

Roman Abramovich DISQUALFIED as director of Chelsea by the Premier League

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The Russian oligarch was hit with sanctions by the UK government this week for his links with Vladimir Putin, which included the freezing of his assets.

Chelsea have only been allowed to continue operating under a special licence, which the club are desperately trying to ease for fear of financial ruin.

Abramovich’s disqualification would ordinarily trigger the sale of his shareholding – but as he has already declared his intention to sell the club, it will have little material effect.

It will not impact on Chelsea’s ability to continue football operations or fulfil their remaining fixtures this season.

While the current licence issued by the Department of Digital, Culture, Media and Sport does not permit the sale of the club, it is understood the Government are open to altering the terms to enable that process, which started last week, to continue.

UK property tycoon Nick Candy has confirmed to Standard Sport his intention to go ahead with his pursuit of the club, while the US-Swiss consortium of Todd Boehly and Hansjorg Wyss has already tabled a bid.

The Ricketts family, who own the Chicago Cubs and New York Jets owner, Woody Johnson are also believed to be pursuing bids.

Chelsea have been locked in talks with the Government over concerns the current terms of the licence are unworkable.

There are real fears the current restrictions on the amount they are allowed to spend on hosting or traveling to games will quickly eat up their cash reserves.

They are also concerned about a block on the sale of tickets, which could mean playing behind closed doors in the Champions League.

The Government is looking into the possibility of selling tickets through the Premier League or FA as a workaround.

The licence runs until May 31.

If a new one is issued with the same terms, Chelsea will not be allowed to buy or sell any players in the summer.

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