Chelsea sponsor Three ‘review position’ after sanctions

Chelsea’s shirt sponsor, telecommunications company Three, has placed the deal under review after the UK Government imposed sanctions on Roman Abramovich.

A company spokesperson said: “We are in discussions with Chelsea and reviewing our position.”

READ MORE: Ten consequences of Chelsea licence after Abramovich is sanctioned…

The three-year deal was announced in January 2020, with the company logos appearing on shirts from the start of last season.

Abramovich was added to the list of of sanctioned individuals amid Vladimir Putin’s invasion of Russia on Thursday, throwing the future of Chelsea Football Club into doubt.

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.

After the latest sanctions were announced, Prime Minister Boris Johnson insisted the government would continue to be “ruthless” in an attempt to disrupt Putin’s invasion.

Johnson continued: “There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine.

“Today’s sanctions are the latest step in the UK’s unwavering support for the Ukrainian people.

“We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies.”