The billionaire has been identified as a known associate of Russian President Vladimir Putin, and now faces a number of financial restrictions in the United Kingdom.
Abramovich is no longer able to make any money from his British assets, including Chelsea, with the club now severely restricted in its capabilities.
As well as bans on any further sales of tickets or merchandise, the Blues have been placed under an effective transfer embargo, and are not permitted to bring in any new players.
Thursday’s sanctions also present a sizeable obstacle to Abramovich’s planned sale of the club.
The oligarch announced last week that he intended to offload Chelsea in the near future, and while a deal is still possible under the terms of his new restrictions, it would come with some major caveats.
What do the sanctions mean for Abramovich’s sale of Chelsea?
In the short term, Abramovich’s planned sale of the club has been placed into serious doubt, but he could still feasibly offload it in the relatively near future.
Ultimately, however, an agreement would require special dispensation from the government, and would only be permitted on the condition that the Russian made no profit from it in any way.
Abramovich’s valuation of Chelsea is understood to be somewhere in the region of £3 billion.
Prior to Thursday’s sanctions, a number of potential buyers had emerged, and despite the clear and obvious hurdles that the government’s intervention now presents, The Times report that there are several suitors still keen on striking a deal for the Blues.
How long has Abramovich owned Chelsea?
Abramovich completed the purchase of Chelsea from Ken Bates in June 2003.
Since the Russian’s takeover, the club has won 18 major trophies – the UEFA Champions League twice, the UEFA Europa League twice, the UEFA Super Cup twice, the Premier League five times, the FA Cup five times (with 2010 providing the club’s first ever league and FA Cup double), and the League Cup three times.
How much of Chelsea does Abramovich own?
In short, Abramovich owns everything aside from Chelsea’s name and the pitch they play on.
Instead, Chelsea Pitch Owners PLC is the company that holds the freehold of Stamford Bridge and the name Chelsea FC.
The group was founded by Ken Bates, and is made up of more than 23,000 individual shares, with the purpose of protecting the future of Stamford Bridge while allowing supporters to own part of the football club itself.
The Pitch Owners include more than just devoted Blues fans, however.
Club legend John Terry is president of the group, while Neil Barnett, Steve Clarke, Marcel Desailly, Jimmy Floyd Hasselbaink, Pat Nevin, David Webb, and Dennis Wise are all vice presidents.
Shareholders also include current manager Thomas Tuchel and former boss Jose Mourinho.
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