Abramovich transferred Chelsea’s management rights to the club’s charitable foundation last month in the wake of the ban. Abramovich made it clear last week that Chelsea were ready to sell and that the proceeds from the club’s sale would go to war-torn Ukraine.
London, First Published Mar 10, 2022, 5:53 PM IST
Chelsea: In the wake of Russia’s invasion of Ukraine, Britain has decided to freeze the entire assets of Roman billionaire Roman Abramovich, owner of English Premier League (EPL) club Chelsea FC. Abramovich has been banned from traveling to Britain and from dealing with British citizens.
The British government have stated that Chelsea’s license will not be revoked but that the team will remain under surveillance. In addition to Abramovich, the assets of Russian billionaires Oleg Deripaska and Rosneft chief executive Igor Sechin have been frozen and travel bans imposed.
Abramovich transferred Chelsea’s management rights to the club’s charitable foundation last month in the wake of the ban. Abramovich made it clear last week that Chelsea were ready to sell and that the proceeds from the club’s sale would go to war-torn Ukraine.
Abramovich has announced that he will travel to Stamford Bridge, Chelsea’s home ground, after the sale. Swiss industrial giant Hansorg Wise has also expressed interest in acquiring Chelsea. However, Abramovich will not be able to return to the UK even after the club sells out due to a travel ban imposed by the UK. Abramovich was trying to sell his villas in England in the face of the ban.
Roman Abramovich is an oil tycoon with close ties to the Russian government and President Vladimir Putin. Since then, Chelsea have won the Premier League and FA Cup five times, as well as the Champions League and Europa League twice. Abramovich was a member of the Russian parliament and served as provincial governor for eight years.
Protests against Abramovich intensified in England after Britain imposed sanctions on Russian billionaires and banks following Russia’s occupation of Ukraine. Labor MP Chris Bryant has called on parliament to seize Chelsea’s assets in the UK. Following this, Abramovich transferred the management rights to Chelsea. Chelsea are currently third in the Premier League with 53 points from 26 matches, behind Manchester City (69 points) and Liverpool (63 points).
Last Updated Mar 10, 2022, 5:53 PM IST
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