Chelsea may 'go out of business' if sanctions placed on Roman Abramovich

Chelsea may 'go out of business' if sanctions placed on Roman Abramovich

Finance experts have warned that Chelsea could risk going out of business if the UK government decides to impose sanctions on owner Roman Abramovich, reports The Times.

Although the Russian billionaire is believed to be on the list for sanctions, none have been officially placed so far. However, ministers have been debated freezing his assets and funds as a result of his close links with Vladimir Putin.

If that happens, Abramovich could demand Chelsea to repay the £1.5 billion it owes him.

Shelling funds of that nature could plunge the Premier League side into bankruptcy.

Expert Kieran Maguire explained: "If he [Roman] feels he is being made a scapegoat for the activities of Putin then the worst-case scenario is he tries to call in the loan.

"Then we've got a crisis. He and Putin could argue that it is the British government that has destroyed Chelsea Football Club.

"There could be a lot of misrepresentation and accusations made from all parties if the British government does go down this route.

"But I suspect this government will not want to upset football fans as we have a populist government. I suspect Chelsea's legal team would be going through all the options."

Russia have advanced into Ukraine, with hundreds of people dead on both sides already.

The capital city of Kyiv has been under heavy shelling over the past 24 hours as Vladimir Putin's men attempt to take full control.

Source: The Times
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