Chelsea face an anxious wait to find a new buyer to take control of the club after billionaire owner Roman Abramovich was sanctioned by the UK government
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The Blues were put up for sale by Abramovich in early March due to fears he would not be able to control the club amid the Russian invasion. Ukraine.
It was announced on Thursday that Russian billionaires were included on the list of hundreds of tycoons punished for their relations with the president Vladimir Putinwith the 55-year-old man’s financial assets frozen – including Chelsea.
The sale of the club has been postponed but the club can continue to operate on a daily basis, paying the salaries of the players and staff, although they are not allowed to receive any income while Abramovich remains a member of the club. Owner.
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That leaves Chelsea in a precarious position, with income from ticket sales, merchandise sales and other sources of revenue no longer funding their day-to-day operations.
According to financial expert Kieran Maguire, Chelsea have relied on Abramovich to fund them in times of rising costs – and now face a period of uncertainty when trying to manage the club’s coffers. set without him.
“Chelsea got the big money they expected to generate over the course of a season,” said football finance expert Maguire. BBC Radio 5 Live.
“Season ticket holders have already paid their money in advance, as have sponsors, as have kit makers. In addition, most of the broadcast money has already been carried over.
“Under the terms of the government license, that money should not be prevented from going to Chelsea. Those are positive things.
“The challenges are Chelsea’s wages are around £28m/month. We don’t know how much money Chelsea has in the bank account.
“Historically, Roman Abramovich has always secured months when Chelsea couldn’t pay for themselves. That’s a significant unknown.”
A report from Sun announced that Chelsea faces the prospect of potentially shutting down business for an 81-day period, unless Abramovich finds a buyer to take control of the club.
Under the terms of the club’s special license, they have until 31 May to find a new owner for the west London outfit, with a number of parties having made their concerns public in two weeks. last week.
The Prime Minister’s official spokesman said: “A specific license can be granted to allow any purchase or sale to proceed.
“But in any event, any sale entitles Roman Abramovich to profit from that sale or to collect any money from it.”
It remains to be seen how much Chelsea’s earnings freeze could actually affect the future of the club and the club confirmed in a statement that it would seek talks. with the government to clarify what the license means for its future.
The statement read: “We will complete our men’s and women’s matches today against Norwich and West Hamand intends to enter into discussions with the UK Government regarding the scope of the licence.
“This will include obtaining permission to amend the license to allow the Club to operate as normally as possible.
“We will also seek guidance from the UK Government on the impact of these measures on the Chelsea Foundation and its vital work in our community.”
https://www.mirror.co.uk/sport/football/news/chelsea-finances-takeover-roman-abramovich-26440358 Financial expert explains risk Chelsea is on the run amid fears club could go bust