Roman Abramovic has failed in his efforts to save Chelsea from seismic upheaval with a quick sale amid geopolitical turmoil.
Roman Abramovic is one of seven oligarchs with ties to Vladimir Putin to be sanctioned by the U.K government today. Igor Sechin and Oleg Deripaska are also among those sanctioned.
“There can be no safe havens”, said Prime Minister Boris Johnson of those who are linked to Russia’s invasion of Ukraine.
While the government will work with the Premier League to ensure Chelsea can still play games, the sanctions are potentially disastrous for their standing in the game.
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Effectively, Chelsea cannot make or spend any money while it remains frozen. This means any potential sale is on hold, although the government may be lenient towards potential buyers considering the cultural and economic importance of the Premier League.
In real terms, no tickets can be sold, no transfers can be made in or out and no contracts can be renewed. This puts into immediate doubt the futures of defenders Antonio Rudiger and Cezar Aspilecueta.
Presumably, more than a few players will be plotting their route away from Stamford Bridge, if that can even be achieved.
Attendances shouldn’t suffer too much because the majority of sold tickets are season tickets. However, if they reach an F.A Cup semi final or final, will 50,000 tickets remain unsold?
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Sponsors are already beginning to distance themselves from Chelsea and Roman Abramovic. Telecommunications company Three announced this morning that their £40 million a year sponsorship of the team is ‘under review’.
Expect more headlines like that in the coming days and weeks. While Chelsea will undoubtedly be aided in navigating this, it will only do so much considering nobody has any experience of navigating this. Certainly, the days of Abramovic pumping £90 million a year into the club are over.
How bad this could get for Chelsea in a competitive sense is anybody’s guess.
