Russian oligarch Roman Abramovich banned from running Chelsea FC
Global News
The Premier League banned Roman Abramovich from running Chelsea on Saturday after the club owner was sanctioned by the British government over Russia's war on Ukraine.
The Premier League banned Roman Abramovich from running Chelsea on Saturday after the club owner was sanctioned by the British government over Russia‘s war on Ukraine.
The league board’s decision to disqualify the Russian oligarch from being a director ends his 19 years in control of the west London club but does not directly impact the players.
“The board’s decision does not impact on the club’s ability to train and play its fixtures,” the Premier League said in a statement.
The team is able to continue operating under a license issued by the British government when it froze Abramovich’s assets on Thursday while imposing sanctions against him over ties to Russian President Vladimir Putin, including restrictions on spending. Chelsea had company credit cards from Barclaycard frozen as a result of the sanctions.
Bowing to pressure against his ongoing ownership, Abramovich had already announced last week before being sanctioned that he would put Chelsea up for sale.
The government now has oversight of the sale process which the Raine Group, an investment bank, is working on.
Abramovich originally hoped to divert the proceeds into a new foundation for the victims of the war in Ukraine, which he is yet to condemn Putin for launching. But the government will only sanction a sale that does not see Abramovich benefit as the government tightens the screw on influential individuals it views as enabling Putin’s regime.
