Chelsea would feel the impact, with estimated losses running to millions.
They say when it rains, it pours. If Chelsea fans did not understand the meaning of this phrase, they probably do now. The hammer blows are falling thick and fast, and the Blues are feeling its effect already.
The hypocrisy in England is at the fore, and the world is seemingly powerless at the events unfolding. While everyone despises the operation in Ukraine, there should be a balanced and level playing field. What is good for the goose should be good for the gander. Human rights was not a thing when the Qataris and Saudis were buying Manchester City and Newcastle United - it is with Chelsea that they drew the line.
As a fallout of the Ukrainian invasion, sanctions are falling on Russian oligarchs. One of the Russian billionaires to catch some blows is Chelsea owner Roman Abramovich. While the intention is to hit Abramovich to submission, Chelsea and its fans will feel the full effect.
Sanctions fall on Chelsea amid the impending financial meltdown
The Government of the UK on Thursday morning announced sanctions on Roman Abramovich. Assets belonging to Abramovich in the UK have been frozen. The sanctions effectively put the brakes on the sale of the club. It is a devastating blow to Chelsea, and the club could see itself free fall.
Abramovich had announced his intention to sell the club following pressure on him after the operation on Ukraine. The announcement saw prospective buyers girding their loins for a Chelsea takeover.
Following the sanctions on Chelsea, the club faces a financial meltdown. Chelsea FC should lose millions every week. As far as the sanctions persist, Chelsea finds itself up a creek without a paddle. A resolution is needed to get the club back on track. No one can tell how long this will linger, but it does not bode well for English football if Chelsea falls. Over the last 15 years, Chelsea FC has been the most successful club in England, thanks to the investment of Abramovich in the club and the country.
The arithmetic behind the loss
As per Football.London, the losses that could accrue to Chelsea during the government imposed sanctions could be at least £600,000 for every home game they play. The depth of the sanctions imposed on Abramovich is becoming clearer.
Chelsea are hanging on the edge of peril.
The Blues cannot sell match day tickets, nor can they buy or sell players and club merchandise. The club cannot extend any contracts. It means that every form of inflow to the club is blocked.
Season ticket holders would be allowed in the stadium on match days, with Stamford Bridge holding a capacity of a little over 40,000. Season ticket holders account for 28,000, which means around 12,000 tickets will go unsold every week.
The cheapest ticket goes for £47. It means Chelsea stands to lose around £603,198 every home game.
Chelsea has at least five more home matches this season, and it could increase depending on how far they go in the Champions League. It means that the Blues would lose millions in pounds.
Meanwhile, Chelsea’s shirt sponsors have temporarily pulled out of their £40 million-a-year partnership with the club.
By :
Steven D. Thompson
