Chelsea sale on hold as UK government impose sanctions on Roman Abramovich

The UK government on Wednesday seized Chelsea Football Club as it imposed tougher sanctions on Russian owner Roman Abramovich.

The club's assets were frozen as the UK cracked down on seven oligarchs in response to Russia's invasion of Ukraine.

The move means that the sale of the club has been put on hold. Abramovich confirmed last week that he was putting Chelsea on the market 19 years after buying it.

Billionaire British businessman Nick Candy had said he was interested in buying the club, worth an estimated £3 billion, as part of a consortium. There were reported to be as many as 20 parties interested in the purchase. A deadline of March 15 had been set for the club to consider the final bids.

The government is putting in place a license to make sure that the club can fulfil its fixtures and so that players and staff can be paid. However, player transfers are banned, as are new contracts.

Season ticket holders can still attend matches but no further ticket sales can be made. The merchandise shop will be closed.

The moves are intended to stop Abramovich from making a any profit from the club.

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