Chelsea will not be able to sign any new players under the terms of an asset freeze placed on owner Roman Abramovich.
The Russian billionaire has been placed on a list of “financial sanctions targets in the UK” by the Government in response to the invasion of Ukraine.
According to the Treasury, Abramovich “has had a close relationship for decades” with Russian president Vladimir Putin including “buying and selling shares from and to the state at favourable rates” and receiving contracts in the run-up to the 2018 World Cup.
As a result, Abramovich’s UK assets have been frozen including Chelsea Football Club, although a licence has been issued to allow the club continue trading in a limited way and i understands the Government would listen to a special application to sell the club as planned if the current owner does not profit.
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- Pay the wages of players and staff
- Pay and receive transfer and loan fees that have already been agreed
- Honour existing season tickets
- Continue to operate Stamford Bridge and pay fees associated with that, limited to £500,000
- Cover travel costs to and from fixtures for players and staff, limited to £20,000
However, that means they will not be able to:
- Buy, sell or loan players
- Sign new contracts with players or staff
- Sell new tickets to fans
- Spend money on developing or refurbishing the stadium or training ground
- Sell any new merchandise
Culture secretary Nadine Dorries said: “Today’s sanctions obviously have a direct impact on Chelsea and its fans. We have been working hard to ensure the club & the national game are not unnecessarily harmed by these important sanctions.
“To ensure the club can continue to compete and operate we are issuing a special licence that will allow fixtures to be fulfilled, staff to be paid and existing ticket holders to attend matches while, crucially, depriving Abramovich of benefiting from his ownership of the club.
“I know this brings some uncertainty, but the Government will work with the league and clubs to keep football being played while ensuring sanctions hit those intended. Football clubs are cultural assets and the bedrock of our communities. We’re committed to protecting them.”
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