Roman & ruin: Chelsea faces restrictions, plead with UK govt to ease sanctions as they stare at financial ruin

On Friday, The Daily Mail reported that Chelsea are ready to “beg” the UK government to ease sanctions against them, as they stare at financial ruin. The day before, the British government froze the club’s Russian owner Roman Abramovich’s assets as part of the government’s sanctions, targeting seven oligarchs.

Abramovich had pre-empted this in the wake of Russia’s invasion of Ukraine and had already put the club up for sale. But following Abramovich’s assets freeze, he can no longer be part of the process. It has to be taken over by the government, with several parties still showing interest. Abramovich will not receive a penny from the sale.

This is not about a rival fan’s schadenfreude and the tribalism associated with English football. Abramovich and his club got what they deserved. For close to two decades, since Chelsea’s takeover by the Russian oligarch in 2003, the club has won 21 trophies, thriving on blood money. Chelsea knew where the money came from; the same money that gave the club its nouveau riche status and allowed it to rub shoulders with the elite like Manchester United, Liverpool and Arsenal, was also used in the production of tanks and rockets that are part of the Russian army’s heavy artillery. Only a few days back, the Russian army propelled a rocket into a maternity hospital in Ukraine.

Abramovich is a Vladimir Putin acolyte. He has a major shareholding in Russian steelmaking giant Evraz. While sanctioning him, the UK government said: “Furthermore, ABRAMOVICH is or has been involved in destabilising Ukraine and undermining and threatening the territorial integrity, sovereignty and independence of Ukraine, via Evraz PLC, a steel manufacturing and mining company in which ABRAMOVICH has a significant shareholding and over which ABRAMOVICH exercises effective control.

“Evraz PLC is or has been involved in providing financial services, or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine – which includes potentially supplying steel to the Russian military which may have been used in the production of tanks.”

While mentioning Abramovich “a prominent Russian businessman and pro-Kremlin oligarch”, the UK government’s Treasury department also stated: “ABRAMOVICH is 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. This association has included obtaining a financial benefit or other material benefit from Putin and the Government of Russia.

“This includes tax breaks received by companies linked to ABRAMOVICH, buying and selling shares from and to the state at favourable rates, and the contracts received in the run up to the FIFA2018 World Cup. Therefore, ABRAMOVICH has received preferential treatment and concessions from Putin and the Government of Russia.”

Abramovich’s statement to announce his decision to sell Chelsea embraced niceties. “Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.”

Die-hard Chelsea fans, who sang Abramovich’s name at Stamford Bridge only a few days ago, need to read it carefully. The club’s ‘benefactor’ said, “all victims of the war”, not the Ukrainian victims of the war. After years of sportswashing, truth has caught up with the 55-year-old billionaire and Chelsea fans should put things in perspective. The criticism of Abramovich and his club is not agenda-driven.

In fact, there could be a strong argument against the UK government’s decision to issue a special licence to allow Chelsea’s fixtures to be fulfilled. The club has been Abramovich’s one of the biggest assets and it should take the brunt as well.

As Chelsea beat Norwich 3-1 in a Premier League game on the day the club plunged into uncertainty, it felt a bit odd. When the UK government has officially acknowledged the club owner’s links with a tyrant in the Kremlin, when the club has been run by blood money during his ownership, should Chelsea also not be sanctioned by the governing body of English football? Deducting points should be the minimum punishment.

As for the government sanctions against Chelsea, hopefully that will not be eased unless Abramovich promises that net proceeds from the sale will be used in Ukraine’s reconstruction post-war.