Chelsea FC owner Roman Abramovich sanctioned by UK government amid Russian oligarch crackdown
Chelsea continue to deal with the fallout of owner Roman Abramovich being disqualified as a director of the club and sanctioned by the UK government for his links to Vladimir Putin after the Russian invasion of Ukraine and the EU are set to hit the Russian with further sanctions on Monday.
The UK government initially brought sanctions against the owner last Thursday but despite Abramovich’s assets being frozen, Chelsea were handed a new licence to continue “football-related activities” and are in negotiations with the government to amend some aspects of it.
A statement from the league on Saturday read: “Following the imposition of sanctions by the UK government, the Premier League Board has disqualified Roman Abramovich as a director of Chelsea Football Club. The board’s decision does not impact on the club’s ability to train and play its fixtures, as set out under the terms of a licence issued by the government which expires on 31 May 2022.”
The disqualification of an owner by the Premier League would normally trigger the sale of their shareholding, however Abramovich had already publicly announced his intention to sell the club and a process has begun with bidders told to press on with submissions. A number are understood to be interested including LA Dodgers part-owner Todd Boehly, Chicago Cubs owner Tom Ricketts and British property tycoon Nick Candy.
Chelsea adviser Petr Cech admitted he is unsure if the club will be able to finish the season, while on the pitch, Chelsea beat Newcastle 1-0 on Sunday and although head coach Thomas Tuchel promised to see out the campaign at Stamford Bridge, he refused to commit to the club in the longer term.
Chelsea news
Chelsea’s sale is expected to progress with government oversight as bidders have been told to press on with submissions.
Owner Roman Abramovich’s government sanctions had stalled proceedings, with the Russian-Israeli billionaire’s UK assets frozen.
Chelsea have been handed a new licence to continue operations however, and the Blues are still locked in negotiations with the government to ease restrictions.
But New York merchant the Raine Group has assessed the terms of the licence and agreed a route forward for the sale with the government.
Abramovich put Chelsea up for sale on 2 March, pledging to write off the Blues’ £1.5billion debt and to divert all proceeds to a new foundation to benefit victims of the war in Ukraine.
Lawrence Ostlere15 March 2022 04:45
Holocaust memorial suspends ties with Abramovich
Israel’s official Holocaust memorial and museum, Yad Vashem, has suspended ties with Chelsea owner Roman Abramovich just weeks after he made an eight-figure donation in a “long-term strategic partnership”
Just a few weeks ago, after the donation from Abramovich, the memorial had claimed that “a new long-term strategic partnership” had been struck with the Russian billionaire after he became their second largest donor.
Earlier this month, Yad Vashem was embroiled in controversy after a report in the Washington Post claimed that it had attempted to assert pressure on the US not to sanction the Blues owner.
Abramovich has had his assets frozen in the UK in the wake of Russia’s ongoing invasion of Ukraine, although he continues to deny any links to president Vladimir Putin .
The West have targeted several Russian oligarchs and billionaires with sanctions and asset freezes in the hopes of exertgin pressure on Putin to stop the war and Israel are debating whether to follow their lead.
Lawrence Ostlere15 March 2022 02:55
Saudi Media Group make £2.7bn bid for Chelsea
Saudi Media Group have reportedly made a £2.7bn ($3.5bn) offer to buy Chelsea. Mohamed Alkhereiji who runs Saudi Media and is CEO of it’s parent company Engineer Holding Group is an apparant Chelsea fan and is leading a private consortium with no direct government links.
There is is support in finding funding and partners from Mohammed bin Khalid Al Saud who is also chair of Saudi Telecom Company (STC). STC is State-owned and Newcastle owners PIF still have shares in it despite selling some in December.
Lawrence Ostlere15 March 2022 00:47
Chelsea news
Chelsea fans have been told to stop the “completely inappropriate” chanting of Russian owner Roman Abramovich’s name by a spokesperson of the Prime Minister.
Chelsea fans again expressed their backing for Abramovich during Sunday’s home match against Newcastle, although there were fewer chants than during the match against Norwich on Thursday.
Abramovich was sanctioned by the British Government last week over his ties to Russian president Vladimir Putin. His assets were frozen with Chelsea placed under a special licence which allows them to operate but unable to generate new revenue.
Boris Johnson’s official spokesman insists supporters should not let that blind them to Abramovich’s association to the man leading the Russian invasion of Ukraine.
“We recognise the strength of feeling around people’s clubs but that does not excuse behaviour which is completely inappropriate at this time,” he said.
“I think people can show passion and support for their club without resorting to that sort of stuff.”
The UK government has said it is still “open” to Chelsea being sold but that a new application would be needed to enable a sale. So far, the spokesman said, the club had not applied for a variation to its strict special licence.
“We are open to the sale of the club, we would consider an application for a licence to allow that to happen in the right circumstances,” the spokesman said.
“But it is for Chelsea to determine the exact process. My understanding is potential buyers would approach the club, who would then need to apply for a further amended licence to facilitate the sale.
“As far as I’m aware that hasn’t happened at this point.”
Lawrence Ostlere14 March 2022 22:46
Saudi Media Group make £2.7bn bid for Chelsea
Saudi Media Group have reportedly made a £2.7bn ($3.5bn) offer to buy Chelsea. Mohamed Alkhereiji who runs Saudi Media and is CEO of it’s parent company Engineer Holding Group is an apparant Chelsea fan and is leading a private consortium with no direct government links.
There is is support in finding funding and partners from Mohammed bin Khalid Al Saud who is also chair of Saudi Telecom Company (STC). STC is State-owned and Newcastle owners PIF still have shares in it despite selling some in December.
(AFP via Getty Images)
Michael Jones14 March 2022 20:00
Thomas Tuchel queries Premier League ownership tests after Chelsea beat Newcastle
Thomas Tuchel questioned the Premier League’s ownership tests following Chelsea’s 1-0 victory over Newcastle at Stamford Bridge.
Head coach Tuchel reaffirmed his commitment to the Blues despite the club’s uncertain future due to owner Roman Abramovich’s Government sanctions.
Abramovich has had all his UK assets frozen barring Chelsea in the wake of Downing Street claiming to have proven the Russian-Israeli billionaire’s links to Vladimir Putin.
Russia’s continued invasion of Ukraine, coupled with Saudi Arabia carrying out 81 public executions on Saturday, made for a tense backdrop to the Blues’ last-gasp win over the Saudi-bankrolled Magpies.
The Premier League insisted Newcastle’s owners, the Saudi Arabia Public Investment Fund, proved suitable separation from the Saudi state before its takeover, despite crown prince Mohammed bin Salman chairing the PIF.
Russia’s war in Ukraine shifted the geopolitical picture to the extent where Chelsea must now operate under a stringent Government licence, to ensure Abramovich does not profit from the Blues.
Michael Jones14 March 2022 19:30
Azpilicueta could stay at Chelsea for another year
Cesar Azpilicueta could be staying at Chelsea for another year after rumours claimed he would be moving to Barcelona on a free transfer in the summer.
Azpilicueta’s current contract with the Blues ends in June and Barcelona are said to have already put a contract offer on the table for the 33-year-old.
According to Marca the Chelsea captain is Barcelona’s number one defensive target this summer with Azpilicueta keen for a move back to Spain.
However, the Spanish publication claims that Chelsea have already activated a clause in the player’s contract triggering an automatic one-year extension that kicked in after he reached 30 appearances for this season.
Azpilicueta, who missed the win over Newcastle with illness, has now made 33 appearances this season for the Blues. Barca’s desire to land the player remains, but they are not willing to pay a fee with Azpilicueta’s new one-year deal kicking in.
“Azpilicueta wants an amicable solution and he is working on it with the club,” says the report from Marca.
Roman Abramovich’s sanctioning means the club are now working under a strict Government license meaning new player sales and new contract negotiations will not be permitted.
However, since Azpilicueta triggered the clause before those sanctions last week, it is understood the player’s one-year deal will be honoured.
As Chelsea cannot add any new players to their squad at the current time they will likely be unwilling to see anyone leave the club in the foreseeable future.
Michael Jones14 March 2022 19:15
Barcelona eye surprise move for Romelu Lukaku as ‘last resort’
Barcelona are considering a surprise move for Chelsea striker Romelu Lukaku this summer, according to reports for AS in Spain.
There are doubts over the futures of Ousmane Dembele, Memphis Depay, Martin Braithwaite and Luuk de Jong, with president Joan Laporta aiming to overhaul the squad. The Catalan giants are intent on rebuilding their squad under Xavi and have their sights set on signing a big name forward.
They are interested in signing Borussia Dortmund star Erling Haaland this summer, with his £63million (€75m) release clause too good an opportunity to ignore but Barca ‘openly admit’ they are behind Manchester City in the race for the 21-year-old goalscorer, so are keeping in mind other options.
Liverpool’s Mohamed Salah is the second choice target and the fact he is out of contract in June 2023, leads Barca to believe they could get him at a price between £50m and £58m (€60m-€70m).
Bayern Munich’s 33-year-old striker Robert Lewandowski is the third option, but would only be given a two-year deal due to his age and is thought to be a ‘very complicated’ deal to pull off.
That leaves Lukaku as fourth choice or the ‘last resort’ option. The 28-year-old only joined Chelsea in a club-record £97.5m deal last summer and is under contract until June 2026 but he has failed to settle back at Stamford Bridge, scoring 11 goals in 31 appearances so far this season, and is thought to be open to moving.
Michael Jones14 March 2022 19:00
Prospective Chelsea owner Nick Candy vows to include fans in decision-making
Prospective Chelsea owner Nick Candy has vowed to include Blues fans in Stamford Bridge decision-making should he take over the Champions League holders.
British property tycoon Candy is among the leading candidates to buy Chelsea from Roman Abramovich, with the UK Government overseeing the sale.
And the 49-year-old has now pledged to hand supporters a central role in Chelsea’s future should he win the rapidly-intensifying race to buy the west London outfit.
Russian-Israeli billionaire Abramovich was sanctioned by the Government on Thursday, with all his UK assets frozen bar Chelsea – with the Blues operating under special licence.
The Government will now oversee the Raine Group’s handling of the sale, with Abramovich blocked from profiting under terms of the sanctions.
Michael Jones14 March 2022 18:45