Given the week they’ve had – losing the Carabao Cup final to Liverpool, then discovering their club is up for sale – it’s no surprise that Chelsea started Saturday’s match against Burnley as if “Wondering where the point is,” says Jonathan Liew in The Observer.
In 45 minutes, the Blues played poorly, but two quick goals from Kai Havertz helped them seal a 4-0 victory. Throughout the match, Chelsea fans chanted Roman Abramovich’s name – even for a minute of clapping to show solidarity with the Ukrainian people. The manager, Thomas Tuchel, was clearly displeased. This is not “the time to do this,” he said.
Abramovich is believed to have attempted to sell the club for an asking price of £3 billion, Duncan Castles said in Sunday Times. This seems like a huge amount of money, as Chelsea are a club with “lesser revenue” than Manchester United, who are said to be worth around £1.5 billion.
Another big problem is Stamford Bridge, which is in need of costly redevelopment, Matt Law said in Daily telegram: it makes the actual cost of a purchase even more expensive. On Thursday, the situation changed dramatically when the British government imposed sanctions on Abramovich.
Russian-born billionaire Abramovich is one of seven other tycoons ever punishment placed on them in response to Russia’s invasion of Ukraine, Sky News reported. A government document says Abramovich had a “close relationship for decades” with the Russian president. Vladimir Putin.
How will the sanctions affect Chelsea and a potential sale?
As a result of the sanctions, the club’s income has been frozen. It’s been banned from transfer in effect and can’t even sell tickets to the matches.
The future of the reigning European champions is “uncertain”, BBC speak. But a special license allows the Stamford Bridge club to continue operating. The men’s and women’s teams can complete their fixtures for the remainder of this season as normal, and the license allows for the pay of all staff, including players and coaching staff.
Abramovich said it was “no longer possible to push for the sale of the club”, Daily mail. However, Chelsea can ask for a “special clause”, which would be considered if the government considers the change of ownership in the “best interests of the club”, as long as it is not in the best interest of the club. for Abramovich. “That really leaves Abramovich with two options: agree to the government’s terms and lose the club for nothing, or let Chelsea slowly rot.”
Chelsea fan and British property mogul Nick Candy has confirmed that he is still interested in buying the club, Letters reported. “We are checking the details of the announcement and we are still interested in placing a bid,” a spokesperson said. “Clearly this is a very uncertain time for all Chelsea fans. In our view, no one is the owner of a football club – you are the manager of that club for the fans and the community. ”
Not only was Candy interested in buying Chelsea, Daily telegram reported. New York-based commercial bank Raine, which is processing the purchase, has received about 150 requests from individuals or groups claiming interest. The Abramovich punishment is set to “spark a gunfight” between three groups led by Americans who are bidding to “save Chelsea from the threat of financial weapons”.
What about sponsors?
In light of Thursday’s developments, Chelsea could “lose millions” of sponsorship revenue, the Mail said. Telecommunications company Three has halted its £40m shirt sponsorship while country partners Hyundai, Parimatch and Zapp are also considering terminating their agreements. A spokesman for Three said it had asked Chelsea to “temporarily suspend our sponsorship of the club, including removing our branding from shirts and around the stadium until There is a new announcement.”
“Outside chaos” continued on Friday with “more news of unrest”, The Independent reported. Kit supplier Nike could also follow lead sponsor Three in suspending his contract with the club. Nike agreed a 15-year, £900m deal with Chelsea in 2016 and if they walk away, the club will miss out on £540m. Could the Nike deal be “the nail in Chelsea’s coffin?”, asked the Mail.
A club in disarray – but Tuchel is keeping it together
Chelsea are facing “the harsh reality of life after Abramovich”, Miguel Delaney said in The Independent. “The owner sanctions affect not only the here and now of the football club but also its future.”
No financial worries, there were positive results on the pitch for Chelsea’s senior teams on Thursday night. The men’s team beat Norwich 3-1 in the Premier League while the women’s team beat West Ham 4-1 in the WSL.
This could be the “fall of the Roman Empire”, but someone forgot to tell Chelsea manager Tuchel, James Robson said in Evening Standard. Amidst “chaos, trauma and uncertainty”, the German is the man who “bears the storm together”. Tuchel has emerged as a role model for a club that is “in dire need of leadership”.
Glorious years at Stamford Bridge
Since Abramovich bought Chelsea in 2003, they have won “every trophy available”, Planet football speak. Before owning him, the Blues had won “just one top-flight title and five domestic cups in the 98 years before his arrival”.
The Blues have lifted 18 major trophies in the 19 years since the Russian arrived at Stamford Bridge. And last month, the defending Champions League champions completed the setup by beating Palmeiras 2-1 in the Fifa Club World Cup final. However, they missed out on a domestic cup after losing on penalties to Liverpool in the League Cup final at Wembley.
Chelsea’s trophies under Abramovich far outstrip their English rivals, The Independent speak. Under the “empire of Rome”, the trophy cabinet at the Bridge included: 5 Premier League titles, 5 FA Cups, 3 League Cups, two Champions Leagues, two Europa Leagues, two Community Shields, a Uefa Super Cup and a UEFA Super Cup. Now it’s the Club World Cup.
How Abramovich makes money
Worth an estimated $12.3 billion, according to ForbesAccording to real-time data, Abramovich’s interests include stakes in steel giant Evraz and Russian mining and metallurgy company Norilsk Nickel.
Abramovich’s story involves a “significant rise”, Daily mail speak. Born a “pocketless orphan” in Saratov, southwestern Russia, he was raised by his grandparents from the age of 4. He first started a business “selling plastic dolls on market stalls” after graduating from college.
Much of his wealth is “gained from the proceeds of the sale of formerly Russian state-owned properties that he acquired after the collapse of the Soviet Union”, Bloomberg speak. In 2005, he sold a 73% stake in Russian oil company Sibneft to state-owned Gazprom for $13 billion, Forbes reported. Once Russia’s richest man, Abramovich’s net worth peaked at $23.5 billion in 2008.
After the UK investor visa expired in April 2018, Abramovich, a Jew, was granted Israeli citizenship. Last year, he also obtained EU citizenship via a Portuguese passport. He is eligible under Portugal’s naturalization program for descendants of Sephardic Jews, Guardians reported.
https://www.theweek.co.uk/news/people/955945/roman-abramovich-sanctions-chelsea-fc Chelsea riots: What’s next after Roman Abramovich’s sanctions?