What Roman Abramovich’s sanction means for Chelsea players, fans and transfers

Roman Abramovich’s hopes of receiving money from Chelsea’s sale are over after the UK Government announced that his assets have been frozen as part of its sanctions against Russia.

The Russian billionaire, who bought Chelsea for £140 million in 2003, put the club up for sale last week and quickly received interest from several investors.

But the Government announced on Thursday that Abramovich ‘is now a designated person and therefore subject to financial sanctions. This means all funds and economic resources belonging to, held or controlled directly or indirectly by this person are required to be frozen immediately.’

In its statement, the Government said: ‘Abramovich is a prominent Russian businessman and pro-Kremlin oligarch.

‘Abramovich associated with a person who is or has been involved in destabilising Ukraine and undermining and threatening the territorial integrity, sovereignty and independence of Ukraine, namely Vladimir Putin, with whom Abramovich has had a close relationship for decades.’

Following the sanctions against Abramovich, 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 licence currently runs until May 31 2022, but the Government can vary, revoke or suspend it at any time.

Abramovich had instructed Raine Group, a New York merchant bank, to handle the sale of Chelsea.

It’s understood that Abramovich was asking for at least £3 billion, while several investors around the world had registered their interest.

The strongest bid looked to have come from aSwiss-American consortium, spearheaded by Swiss billionaire Hansjorg Wyss and US tycoon Todd Boehly, who owns parts of the Los Angeles Dodgers and