Chelsea owner Roman Abramovich has been hit with an extra £5bn worth of sanctions after Jersey decided to freeze his assets. Jersey did not immediately follow suit when Abramovich's assets were frozen in the UK. The Channel Island remains a UK dependency but self-governing.
However, that has now changed, and it marks another significant blow to the Russian Oligarch. Abramovich had his assets frozen by the UK government for alleged long-standing links to Vladimir Putin, the president currently overseeing the invasion of Ukraine. As a result, the sanctions meant Chelsea could not operate as normal, although a special license has been granted to continue essential footballing activities.
However, contract and transfer negotiations remain off the table, and the sooner a takeover is completed, the better. Abramovich stands to gain no money from the eventual purchase, but the process remains lengthy. Four bidders made it past the first round, with Todd Boehly, Steve Pagliuca, the Ricketts family and Sir Martin Broughton battling it out.
READ MORE: Where Arsenal, Chelsea and Spurs are in UEFA rankings that could decide Champions League places
Final offers are set to be submitted by the end of this week, with a preferred bidder presented to the government after the Easter weekend. This latest blow to Abramovich's assets only further emphasises the need to find a successor.
A statement from the Jersey Law Officers' Department on Wednesday read: "Search warrants were executed by the States of Jersey Police on Tuesday 12 April 2022 at premises in Jersey suspected to be connected to the business activities of Roman Abramovich.
"The Royal Court also imposed a formal freezing order on 12 April over assets understood to be valued in excess of $7billion, which are suspected to be connected to Mr Abramovich and either located in Jersey or owned by Jersey incorporated entities."
