Telecommunications firm Three have confirmed that they are placing their £40m a year shirt sponsorship deal with Chelsea "under review" in the wake of the sanctions imposed on Blues owner Roman Abramovich.
The billionaire has had his assets frozen in the wake of Russia's ongoing invasion of Ukraine, although he continues to deny any links to president Vladimir Putin.
Chelsea have been given a sporting licence to continue playing and trading despite the move, although the measures will put a block on Abramovich's proposed sale of the club.
Three have been Chelsea's main shirt sponsor since the start of the 2020-21 season, but they are now set to scrutinise the future of the club allowing the uncertainty around Abramovich.
A company spokesperson said: “We are in discussions with Chelsea and reviewing our position.”
A government statement confirmed the sanctions on Thursday morning.
"Given the significant impact that today’s sanctions would have on Chelsea football club and the potential knock on effects of this, the Government has this morning published a licence which authorises a number of football-related activities to continue at Chelsea," they said in a statement.
"This includes permissions for the club to continue playing matches and other football related activity which will in turn protect the Premier League, the wider football pyramid, loyal fans and other clubs.
"This licence will only allow certain explicitly named actions to ensure the designated individual is not able to circumvent UK sanctions.
"The licence will be kept under constant review and we will work closely with the football authorities."
Culture secretary Nadine Dorries added: "To ensure the club can continue to compete and operate we are issuing a special licence that will allow fixtures to be fulfilled, staff to be paid and existing ticket holders to attend matches while, crucially, depriving Abramovich of benefiting from his ownership of the club.
"I know this brings some uncertainty, but the Government will work with the league & clubs to keep football being played while ensuring sanctions hit those intended. Football clubs are cultural assets and the bedrock of our communities. We're committed to protecting them."
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The Chelsea Supporters' Trust were quick to react to the news with their own statement.
"The CST notes with concern the Government's statement regarding the owner," tweeted the group's official account.
"Supporters MUST be involved in any conversation regarding ongoing impacts on the club and its global fan base.
"The CST implores the Government to conduct a swift process to minimise the uncertainty over Chelsea's future, for supporters and for supporters to be given a golden share as part of a sale of the club."
