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For almost 20 years, Roman Abramovich rocketed Chelsea from a club on the periphery of the elite to a global football superpower, but Russia’s invasion of Ukraine has resulted in his reign coming to an abrupt end.
Bloody conflict in Ukraine and international outrage over Russia’s invasion placed a renewed focus on Abramovich and his ownership of Chelsea.
It’s a focus that has shone a light on the jarring friction between sport and politics: Abramovich the dream-realizing football owner — adored by much of the Chelsea fanbase — versus Abramovich the Russian oligarch.
Days after the war began, as the West responded by imposing sanctions on Russia and its oligarchs, Abramovich’s assets — including Chelsea — appeared increasingly vulnerable to a more punitive financial environment and he soon announced his plans to sell the club.
Before the sale could be completed, however, the UK government announced that Abramovich would be subject to sanctions as one of “Russia’s wealthiest and most influential oligarchs, whose business empires, wealth and connections are closely associated with the Kremlin.”
On Saturday, the English Premier League’s board disqualified Roman Abramovich as a director of Chelsea.
The disqualification of an owner would normally trigger the sale of their shareholding, though in the case of Abramovich the Russian oligrach had already announced his intention to sell the club and that process is underway.
The UK government is open to Chelsea’s sale and would consider an application for a new licence to allow for a sale to take place, a spokesman for Prime Minister Boris Johnson said on Thursday.
Chelsea will be somewhat shielded from the sanctions, allowed to continue fulfilling its fixtures under a special license. But it does mean the club is not able to sell merchandise or tickets to upcoming games, engage in the transfer market, or issue new contracts to players.
Last month British lawmaker Chris Bryant called for Abramovich to lose ownership of Chelsea after seeing a leaked 2019 UK Home Office document that flagged concerns the 55-year-old had “links to the Russian state and his public association with corrupt activity and practices,” the MP said in Parliament.
According to Reuters, Abramovich has been granted Portuguese and Israeli citizenship in recent years.
“Surely, Mr. Abramovich should no longer be able to own a football club in this country?” Bryant said.
Abramovich’s representative did not respond to CNN’s request for comment on the oligarch being sanctioned.
Spurred by Abramovich’s enormous financial investment — upwards of $1.99 billion according to respected football business blogger Swiss Ramble — Chelsea has enjoyed an unprecedented period of success since his $233 million acquisition of the club in June 2003.
“I don’t want to throw my money away,” Abramovich told the BBC following the takeover, “but it’s really about having fun and that means success and trophies.”
During the 19 years under Abramovich, the club has collected 21 major trophies, according to Chelsea. After winning the FIFA Club World Cup in Abu Dhabi last month, Chelsea has officially won ever major trophy at the club’s disposal. CNN
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If the last 19 years have been jam-packed with golden memories and trophy after trophy, the coming days and months look more uncertain.
In light of the sanctions placed on Abramovich and the consequential impact on Chelsea, the club released a statement confirming it would seek “permission for the licence to be amended in order to allow the Club to operate as normal as possible.”
Amid such turmoil, the CST called for the voices of supporters to be heard.
“Supporters MUST be involved in any conversation regarding ongoing impacts on the club and its global fanbase,” the group said in a statement on Twitter.
“The CST implores the Government to conduct a swift process to minimise the uncertainty over Chelsea’s future, for supporters and for supporters to be given a golden share as part of a sale of the club.”
The sanctions also prevent a sale of the club, pending the issuance of a special license.
In his initial statement published on the club’s website before he was sanctioned, Abramovich said the net proceeds from the sale will be donated to a foundation set up “for the benefit of all victims of the war in Ukraine.”
That statement was conspicuously vague regarding who specifically might be a victim; Abramovich’s critics pointed out that the wording could also allow his new foundation to support the families of Russian soldiers.
“Roman Abramovich is very sensitive to what is happening now,” Mikhail Khordokovsky, an exiled oligarch and Putin critic, told CNN before the recent sanctions were announced.
“I don’t have any information, but I can’t imagine that he’s made any decision without first consulting with Putin.
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