Roman Abramovich set deadline to sell crisis club Chelsea as Nike review £900m deal

Roman Abramovich has been given 81 days to sell crisis club Chelsea who are in danger of folding following the UK Government’s decision to sanction the Russian oligarch.

The 55-year-old, who has presided over a period of unprecedented success in the west London club’s history since he assumed control in 2003, saw his plan to complete a quickfire sale dashed on Thursday following a dramatic announcement.

Following the sanctions, which arose as a consequence of Abramovich’s ties to Russian president Vladimir Putin, Chelsea have been issued with a ‘general licence’ which allows the club to operate under restrictions which will have a huge impact on many connected with the club.

The likes of British property tycoon Nick Candy remain interested in buying the Premier League giants, but Chelsea can now only be sold on the condition that Abramovich agrees to walk away without receiving any financial gain.

Chelsea have been told that a deal must be agreed before the licence runs out on May 31 to guarantee the survival of the club as a properly functioning business.

The PM’s official spokesman explained: ‘A specific licence can be granted to allow any sale to proceed.

‘But under no circumstance would any sale allow Roman Abramovich to profit from that or take any money from that sale.’

Pressure to cede to the Government’s demands is increasing by the hour with Chelsea’s kit supplier Nike now considering reneging on their £900million deal.

Already, Chelsea’s main shirt sponsor, the telecommunications giant Three, have suspended their £40m-a-year-deal, while the Blues’ other main sources of financial revenue, such as ticket sales, have been cut-off and spending capacity greatly restricted.

The club’s megastore and hotel were