Chelsea future uncertain after sanctions against owner Abramovich

European champions Chelsea are now effectively under the control of the British government after Russian owner Roman Abramovich was placed under sanctions on Thursday.

Abramovich, who had been under scrutiny following Russia's invasion of Ukraine, had announced he was selling the Premier League club last week.

Yet that process is now on hold, leaving the club, ranked by Forbes as the seventh most valuable in world soccer at $3.2 billion, in a state of limbo.

The Russian bought the West London team in 2003 for a reported 140 million pounds ($184 million) and his investment contributed hugely to the most successful era in the team's history as they won five Premier League titles, five FA Cups and the Champions League twice.

His purchase of the club helped transform the landscape of English football with Chelsea breaking the stranglehold of Manchester United, Arsenal and Liverpool.

Abramovich had funded Chelsea via 1.5 billion pounds in total loans through Fordstam Limited, the entity through which he owns the club.

In their most recent accounts in December, Chelsea who reported losses of 145.6 million pounds, said they were "reliant on Fordstam Limited for its continued financial support".

Yet now there is a huge question mark over the club's future.

Chelsea, the Premier League and a spokesperson for Abramovich did not immediately respond to requests for comment.

A number of potential new owners had emerged in the past week, including several American sports executives, but there is now a block on any sale.

A source close to Chelsea had told Reuters on Wednesday that the expectation within the club was that a deal would be done "sooner rather than later".

Potential buyers will now have to wait to see how any eventual legal appeal