Home Business News Abramovich disqualified as Chelsea FC director rapid sale is now seen as essential for the club to remain solvent

Abramovich disqualified as Chelsea FC director rapid sale is now seen as essential for the club to remain solvent

by LLB staff reporter
12th Mar 22 2:04 pm

Russian billionaire Roman Abramovich has been disqualified as the director of Chelsea Football club after he was sanctioned by the British government, the Premier League announced on Saturday.

The British government claims that Abramovich had a “close relationship for decades” with Vladimir Putin.

A statement from the Premier League said, “Following the imposition of sanctions by the UK Government, the Premier League Board has disqualified Roman Abramovich as a Director of Chelsea Football Club.

“The Board’s decision does not impact on the club’s ability to train and play its fixtures, as set out under the terms of a licence issued by the Government which expires on 31 May 2022.”

A Department for Culture, Media and Sport spokesperson said, “We have said all along that we would engage with Chelsea to understand what is needed to allow upcoming games to be played to minimise the impact on the Leagues, football pyramid and fans.

“Following extensive engagement with the Club on the details of their structures since the sanction was announced, we have made some further operational amendments to the licence to do so.”

On 2 March Abramovich put the club up for sale before he was sanctioned and promised to write of the £1,5bn debt and would place all proceeds to the victims of Ukraine,  Chelsea FC needs an urgent sale for the club to remain solvent.

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