The British government has imposed sanctions on Roman Abramovich, the owner of the famous football club Chelsea, as a result of alleged relations with Russian President Vladimir Putin late March 10th last week.
Abramovich has been removed from the club’s director. His property has been frozen and a travel ban has been issued by the British government. Six other Russian “Oligarchs” have been sanctioned, including Igor Setin, Oleg Deripaska, Dmitri Lebedev, Alexey Miller, Andrey Kostin and Nikolai Tokarev.
The English Premier League has issued a statement. “Following sanctions by the UK Government, the Premier League Board has disqualified Roman Abramovich as Director of the Chelsea Football Club. The Board’s decision is a condition of a government-issued license that expires on May 31, 2022. Does not affect the ability of the club’s equipment to train and play, as defined by. “
Abramovich is the primary owner of Millhouse LLC’s private investment company, which owns the Chelsea Football Club. They are currently limited to spending $ 26,000 on trips to away matches and about $ 1.17 million on hosting home games.
Chelsea FC was “for sale” at a asking price of £ 3 billion ($ 3.9 billion) due to the complexity of Russia’s entry into Ukraine as Abramovich expected government sanctions.
Complexity can affect the sale, as the UK Government is likely to be somehow involved in the terms of the license under the agreement to sell the club. It may affect sales.
Abramovich, who receives multiple offers below the asking price, will not be able to retain the profits from the sale as the transaction requires final approval by the UK Department for Culture, Media and Sports.
The Los Angeles Lakers and co-owners of the Dodgers, Todd Boehly, Swiss Billionaire and Hans Jurgue Wis are mentioned as part of a group trying to win a bid for Chelsea FC.
Rain Group, a Merchant Bank in New York, has been appointed to sell the club and is accepting offers until Tuesday this week.
Abramovich was a former governor of Chukotka Autonomous Okrug. Forbes rated his net worth at 12.9 billion in 2019 and is ranked as the 11th richest person in Russia, the 11th wealthiest person, Portugal the richest person and Israel the 2nd richest person. ..
As a result of the collapse of the Soviet Union, Abramovic has successfully used Russia’s “stock lending” privatization program to acquire Russian state-owned assets at prices well below market prices.
Besides Putin, Abramovich had a close relationship with former Russian President Boris Yeltsin.
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