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Chelsea FC’s bank account suspended over UK Government’s sanctions On Abramovich
Chelsea Football Club of London bank account with Barclays has reportedly been suspended after the owner, Roman Abramovich, was sanctioned by the United Kingdom Government over his close ties with Russian President, Vladimir Putin, after the European country invaded neighbours, Ukraine, leading to massive loss of lives and destruction of major cities.
The bank has taken the action because it needs time to evaluate the licence handed to the club by the UK Government to continue football-related activities in the wake of the Russian billionaire being sanctioned.
The report claims the Blues remain hopeful Barclays will soon lift the suspension of their account.
The West London club is currently operating under a government-approved special licence.
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It came after Abramovich had his assets frozen, as well as seeing ‘a prohibition on transactions with UK individuals and businesses, a travel ban and transport sanctions’ imposed on him due to his perceived links to Putin.
The licence also currently prohibits Chelsea from seeking a sale of their club but the government have indicated they would be prepared to alter the terms to permit one if they receive an application.
Chelsea are continuing to negotiate with the government over securing exemptions from a number of the restrictions placed on them on Thursday, particularly with regard to ticket sales and match-day operations and travel costs but have yet to achieve significant breakthroughs.
Chelsea will continue to receive TV broadcast payments and prize money, but this will be frozen.
Existing staff and players will continue to be paid.
The club will also ask for clarity over contracts, with a number of star players’ deals due to expire at the end of the season.
As it stands, Chelsea cannot renew any contracts — meaning defenders Antonio Rudiger, Andreas Christensen and Cesar Azpilicueta will leave in the summer.
