Chelsea can still be sold despite Abramovich sanction

Will Ford
Abramovich sanction Candy sale

Chelsea can still be sold if Roman Abramovich hands the process over to the UK Government, according to reports.

Abramovich put Chelsea up for sale last week, with a number of parties said to be interested in buying the club.


Ten consequences of Chelsea licence after Abramovich is sanctioned…


But having been officially sanctioned on Thursday, the Russian oligarch’s assets – including Chelsea Football Club – have been frozen.

Chelsea have been given a special licence to continue operation, but are unable to sell match-day tickets or negotiate new contracts.

But The Telegraph claim the sale of Chelsea can still go through if Abramovich allows the government to take over the process and decide where the funds, thought to be over £2billion, from the deal go.

A special dispensation will be given if the sale in in the best interests of Chelsea that does not benefit Abramovich.

‘HM Treasury may vary, revoke or suspend this licence at any time,’ the licence states.

The report states that prospective buyers have not been told whether Abramovich will consider this option, but it’s claimed one suitor has insisted their ‘interest remains just as strong’ and it’s hoped ‘a solution can be found’.

Abramovich will likely agree to the terms, with the alternative threatening the future of the club he’s owned for close to two decades.

British billionaire Nick Candy was the latest high-profile business magnate to throw their hat into the ring for Chelsea’s sale, amid a host of suitors for the Champions League holders.

Swiss tycoon Hansjorg Wyss and American investor Todd Boehly were also in the running, with more than 10 credible parties understood to have been compiling bids.

The shape of Chelsea’s long-term future has naturally been thrown into doubt, but Government ministers were quick to insist any damage would be limited.

Culture Secretary Nadine Dorries said on Twitter: “Our priority is to hold those who have enabled the Putin regime to account.

“Today’s sanctions obviously have a direct impact on Chelsea and its fans. We have been working hard to ensure the club & the national game are not unnecessarily harmed by these important sanctions.

“To ensure the club can continue to compete and operate we are issuing a special licence that will allow fixtures to be fulfilled, staff to be paid and existing ticket holders to attend matches while, crucially, depriving Abramovich of benefiting from his ownership of the club.

“I know this brings some uncertainty, but the Government will work with the league and clubs to keep football being played while ensuring sanctions hit those intended. Football clubs are cultural assets and the bedrock of our communities. We’re committed to protecting them.”

Chelsea are stuck with the sanctions until May 31, when the license expires, and the HM Treasury may ‘vary, revoke or suspend the license at any time’.