The future of Chelsea F.C., one of Europe’s leading soccer teams, was thrust into uncertainty on Thursday when the British government froze the assets of the club’s Russian oligarch owner, Roman Abramovich, as part of a wider set of sanctions announced against a group of wealthy Russian businessmen.
The government, in announcing its actions against Abramovich and six other Russian oligarchs, said it had already taken steps to ensure Chelsea would be able to continue its operations and complete its schedule. To protect the club’s interests, the government said, it issued Chelsea a license that will allow it to continue its soccer-related activities, including men’s and women’s games set for Thursday night.
But the effects of the sanctions will touch nearly every part of Chelsea’s business. Abramovich is now unable to sell the team, something he had said he planned to do, and the team cannot sell tickets to games or merchandise to fans. It is also forbidden from acquiring or offloading players in soccer’s billion-dollar transfer market under the current terms of its license.