Why was Abramovich's assets frozen and banned from selling Chelsea?

Billionaire Roman Abramovich has been frozen by the British Government and banned from selling Chelsea club. But why is that?

The British government has announced Abramovich is one of seven Russian businessmen who will have their assets frozen indefinitely, in retaliation for Russia's attack in Ukraine. According to The Times, this means that any transfer to Chelsea will not be allowed to take place.

According to journalist Henry Winter, the British government claims Roman Abramovich "is or has been involved in destabilizing Ukraine... through Evraz PLC, a steel mining and manufacturing company... over which Abramovich exercises effective control." fruit". The government claims potential links between Evraz "and the supply of steel to the Russian military".

According to allegations by the British government, Abramovich is the largest shareholder of the Evraz group (28.6% stake), a corporation that supplies steel to the Russian military to build armored vehicles and other war vehicles. . The group's income has increased 45% to $14.2 billion in the past two years due to contracts with the Russian military.

Evraz shares are listed on the London Stock Exchange and the group also has a branch in North America (it even supplied steel to the US military). Even so, Evraz stock has dropped 30% in the past two weeks after the war broke out and Western nations imposed economic sanctions on businesses that abet Russia.

According to The Times's Steven Swinford, Abramovich's assets in the UK are all "frozen" and Chelsea club is among them. However, the British Ministry of Finance has given Chelsea a special license for the club to continue operating so their football matches are not affected. However, Abramovich could not sell the club.

Even if Abramovich sold Chelsea, he wouldn't receive a dime. Swinford said the British Government considers Chelsea a special property of British culture and besides, the transfer of ownership of Chelsea needs to be through the supervision of a special council. Abramovich will not receive money to sell Chelsea either directly or indirectly.

Abramovich is among seven major Russian businessmen whose assets have been frozen, citing his close relationship with Russian President Vladimir Putin. Abramovich has benefited quite a bit from football-related economic activity, including tax breaks for his company, stock trading at bargain prices and bidding for World Cup -related commercial contracts 2018.

Even Chelsea's operating license is an extremely ambiguous thing, because Chelsea can only let fans buy season tickets to watch, but not sell tickets. The club is paid salaries for players and coaches, and is paid for travel expenses, security costs, club operations, etc. But travel costs for their away matches are capped at £20,000, a figure that would give Chelsea a headache if they play away in the Champions League.

In equally negative news for Chelsea from a commercial perspective, one of their sponsors, the Three telecommunications group, has confirmed that it is considering cutting the sponsorship contract of £ 40 million/year for Chelsea. Some other sponsors like Nike are also intending to do the same.

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Russia was eliminated from the 2022 World Cup, Poland entered the play-off final directly

FIFA confirmed the exclusion of Russia from the play-off round of the 2022 World Cup in Europe. This means that Poland is present in the final. Their opponent will be the winner in the Sweden - Czech Republic pair.

According to the original schedule, the match between Poland and Russia was also scheduled to take place on March 24. However, FIFA and UEFA decided to remove the names of Russian teams from all international competitions. Thus, Poland seriously entered the final of branch B.

A statement from FIFA said: "Following the decision on February 28, 2022 adopted by the UEFA Executive Committee to suspend the Russian teams until further notice, the FIFA office decided three Lan will go straight to the final of B bracket on March 29. They will face the winner in the remaining semi-finals of this branch, Czech Republic vs Sweden.

In addition, FIFA also announced the postponement of the match between Scotland and Ukraine in branch A to June. This is a decision based on the request of the Ukrainian Football Federation players: "On March 3, 2022, the Federation football Ukraine has written to FIFA requesting that their qualifying match(s) be rescheduled due to the inability to organize both travel and training for a team under the current circumstances.

After consulting UEFA and the four member federations of branch A, FIFA in a spirit of solidarity unanimously approved this request. The match between Scotland and Ukraine, originally scheduled for March 24, 2022, will now be postponed to June.

However, the remaining match of branch A, Wales against Austria will still take place according to the schedule on March 24 due to the need to limit the delay in the context of the denser schedule of the national teams in June.

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How Much Roman Abramovich Wants for Chelsea as Club Listed for Sale

Roman Abramovich's asking price for Chelsea has been revealed after he put the club up for sale.

As per the latest reports, Abramovich is now inviting bids for the club this week as he comes under further pressure over possible sanctions to his assets and finances following Russia's invasion of Ukraine.

Despite Abramovich and Chelsea previously insisting the Club isn't for sale, the Russian-born is looking for £4 billion to part ways with the European and World champions, according to the Telegraph.

Abramovich's ownership of Chelsea was completed last month when they won the Club World Cup to win it all, but the beginning of the end could now be kicking into action.

At least three parties have shown interest in taking over the club, including Swiss billionaire Hansjorg Wyss who is backed by an American consortium, as per reports.

But sources, as the Telegraph reports, believe only bids of around £2 billion can be expected to be made. Chelsea's debts to Abramovich are £2 billion, funds he would hope to reclaim should/when he sells the club.

Abramovich has been claimed to list his Kensington property, worth around £125 million, up for sale this week.

Abramovich tried to hand over the 'stewardship and care' of Chelsea to the trustees of the charitable foundation to distance himself from the club, and to protect the Blues from any speculation and uncertainty.

But no deal has been agreed to transfer the stewardship over, with talks still ongoing.

Pressure is mounting with potential sanctions, as Abramovich recently accepted an offer to try to help with peace talks between Russia and Ukraine to find a 'peaceful resolution' to the war in eastern Europe.

It's an uncertain time now at Chelsea. Abramovich has given Chelsea a new lease of life since his arrival in 2003, helping the club to constant success. What will life be like after Abramovich goes? Only time will tell.

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FIFA bans Russia from participating in the World Cup

Contrary to the original decision, FIFA changed and banned Russia from participating in all tournaments it organized, including the 2022 World Cup.

The Russian team and clubs were immediately suspended from tournaments organized by FIFA and UEFA due to the conflict in Ukraine. The joint announcement of FIFA and UEFA is as follows:

"Today, FIFA and UEFA jointly decided that all Russian teams, including national and club teams, will be suspended from participating in FIFA and UEFA competitions until further notice. approved today by the FIFA Council Office and the UEFA Executive Committee. In this regard, football is a unified whole and is fully shared with those affected in Ukraine. I hope that the situation in Ukraine will have significant positive changes and quickly so that football can again become a mediator of unity and peace among people."

Thus, in the immediate future, the Russian men's team cannot play the semi-final play-off match for tickets to the 2022 World Cup with Poland. The Russian women's team will also not be able to attend EURO 2022 in England in the summer. The only Russian club still playing in the European Cup this season, Spartak Moscow, were eliminated from the Europa League. Their opponents - RB Leipzig - were awarded tickets to the quarterfinals. UEFA terminates cooperation with sponsor Gazprom.

The only exception is the Winter Paralympics, which kicks off in China this week. Sports tournaments within Russia are still allowed to continue.

Before that, FIFA's original ruling was: "No international matches will take place on Russian territory. The home matches of the Russian team will be held in a neutral field and without spectators. Members representing Russia will participate in tournaments under the name 'Russian Football Federation (RFU)', not the Russian team. The Russian flag or anthem may not be used in matches involving teams from RSU participation".

However, this decision of FIFA met with strong opposition from other members. For example, Poland's refusal to participate in the play-off match to win tickets to the 2022 World Cup. Two countries in the same branch, Sweden and the Czech Republic, also share the same attitude.

The English Football Federation, FA, also expressed its opinion when refusing to play against Russia at any level. Recently, the FA has announced the cancellation of the match against Russia U17 in the European U17 tournament on March 26.

It is due to this pressure that FIFA and UEFA have to make a decision to directly eliminate the presence of Russia. Not stopping there, not only football, the International Olympic Committee also followed and announced a ban on all Russian athletes from attending sporting events.

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