One of the growing concerns for Chelsea is, how will the management survive amid UK sanctions, and what is the faith of the Russian billionaire?
Russian billionaire Roman Abramovich has been sanctioned by the UK government due to his ties to Russian leader Vladimir Putin, after confirming that he will be selling Chelsea Football Club. Roman Abramovich has been sanctioned by the UK government for his close ties to Russian president Vladimir Putin amid the ongoing crisis in Ukraine.
The Chelsea owner was found to have an association with Putin going back “decades”, with the Russian leader “destabilizing Ukraine and undermining and threatening the territorial integrity, sovereignty and independence of Ukraine”.
The sanctions mean that the club will be hit with measures that stop the sale of any new tickets or merchandise and prevent the club from agreeing new contracts, among other issues. While a sale of the club can still be agreed, it is unlikely to see Abramovich profiting in any way.
He said: “[Abramovich] wants to get rid of Chelsea quickly. I and three other people received an offer on Tuesday to buy Chelsea from Abramovich. “I have to wait four to five days now. Abramovich is currently asking far too much. You know, Chelsea owe him [£1.5billion]. But Chelsea has no money. That means: those who buy Chelsea should compensate Abramovich.
“As of today, we don’t know the exact selling price. I can well imagine starting at Chelsea with partners. But I have to examine the general conditions first. But what I can already say: I’m definitely not doing something like this alone. If I buy Chelsea, then with a consortium consisting of six to seven investors.”
Abramovich then took the extraordinary step of announcing that he would be selling the club. Having overseen a 2003 takeover of the west London club, Abramovich has been a key figure behind the scenes as the Blues have enjoyed an unprecedented period of success.
Due to his considerable investment at Stamford Bridge and shrewd backroom appointments, Chelsea have established themselves as a powerhouse on both the domestic and European footballing landscapes. At the current time, Abramovich is still considered one of the richest individuals in the sport and indeed in the world.
According to Forbes, the Russian’s current net worth sits at a huge $12.6billion (£9.4billion) which places him at No. 142 of the wealthiest people on the planet.
Despite that, it is clear that Abramovich’s wealth has fallen considerably since taking ownership of Chelsea nearly two decades ago. He was once Russia’s richest man with a net worth sitting in the region of $23.5billion (£17.5billion) that number peaking in 2008. That fortune has no doubt taken a considerable hit with the 55-year-old’s continued investment in the Blues.
