Chelsea can continue to play EPL and other matches, but cannot sign new players, or engage new contracts, after Britain seized billions in assets from Russian billionaire owner Roman Abramovich.
British lawmakers agreed Thursday to freeze the assets of Russian billionaire Roman Abramovich, who also owns the English Premiership League’s Chelsea Football Club, as part of a broader crackdown on oligarchs with close ties to President Vladimir Putin.
Abramovich joined a list of seven Russian billionaires, including the CEOs of energy giants Rosneft and Gazprom, that will face travel bans and a blocked access to collective assets in the U.K. of around $20 billion.
Britain’s foreign office said Abramovich, who also runs the steelmaking group Evraz PLC, “received preferential treatment and concessions” from Putin and have been involved in “destabilizing Ukraine and undermining and threatening the territorial integrity, sovereignty, and independence”.
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“This association has included obtaining a financial benefit or other material benefit from Putin and the Government of Russia,” the Foreign Office said. “This includes tax breaks received by companies linked to Abramovich, buying and selling shares from and to the state at favourable rates, and the contracts received in the run-up to the 2018 World Cup.”
“Therefore, Abramovich has received preferential treatment and concessions from Putin and the government of Russia,” the government added.
The move also lays waste to Abramovich’s plans to sell Chelsea, which he purchased in 2003, following reported interest from Swiss billionaire Hansjorg Wyss, Los Angeles Dodgers owner Todd Boehly and former New York Jets owner Woody Johnson.
U.K. Secretary for Digital, Culture, Media and Sport said the club can continue playing its Premier League matches “while ensuring sanctions hit those intended”, but the defending European Champions cannot sell tickets, sign new players or agree to new contracts. Season ticket holders, however, will be permitted to attend matches at the club’s home ground in west London.
“Football clubs are cultural assets and the bedrock of our communities,” she added. “We’re committed to protecting them.”
