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Nod for sale of Chelsea by Roman Abramovich

Earlier, the proposed takeover by the Todd Boehly/Clearlake consortium was approved by the Premier League Board, which sent the proposal for approval of the government…reports Asian Lite News

The government has given its nod for the proposed takeover of Premier League giants Chelsea by the Todd Boehly consortium for 4.25 billion pounds.

Chelsea’s Russian owner Roman Abramovich, under whom the club won five Premier League and two UEFA Champions League titles, had in February given the “stewardship and care” of the club to a charitable foundation in the wake of Russia’s aggression in Ukraine.

In March, Abramovich said he planned to sell the club. The Russian owner was left with little choice as a week later, he was sanctioned by the UK government for his links with President Vladimir Putin.

On Tuesday, the government approved the 4.25 billion pound takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly, according to BBC.

Earlier, the proposed takeover by the Todd Boehly/Clearlake consortium was approved by the Premier League Board, which sent the proposal for approval of the government.

“Late last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea,” a government spokesperson said in a statement on Wednesday, BBC reported.

“Following the sanctioning of Roman Abramovich (in March), the government has worked hard to ensure Chelsea has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner,” the statement said,

The government will ensure that Abramovich does not receive any of the proceeds from the sale and that the money is donated to charity.

“Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war,” the statement added.

“The steps today (Tuesday) will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their cooperation.”

The deal was close to collapse earlier this month over fears that the proceeds might not “reach good causes as promised by Abramovich”, the report said.

The report added that the consortium, led by Boehly, will have Clearlake Capital — a Californian private equity firm — as the majority shareholder in Chelsea. “Other investors include US billionaire Mark Walter, also a co-owner of the LA Dodgers, and Swiss billionaire Hansjorg Wyss,” the report said.

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Chelsea frozen, Roman Abramovich sanctioned  

Roman Abramovich’s hopes of selling European champions Chelsea were put on hold after the government hit the Russian billionaire with an assets freeze, reports Asian Lite News

Chelsea Football Club owner Roman Abramovich was on Thursday hit with an assets freeze and travel ban as part of new UK government sanctions targeting seven Russian oligarchs.

Among others sanctioned are leading industrialist Oleg Deripaska, Rosneft chief executive Igor Sechin and the head of Gazprom Alexei Miller, the government announced.

Speculation has swirled for weeks about whether Abramovich would be included on the targeted action against Russian billionaires perceived to be close to the Kremlin.

Abramovich announced last week that he was selling Chelsea, after buying the English Premier League side in 2003, and bankrolled its successes at domestic and European level.

The UK government estimated his net worth at $12.2 billion (£9.4 billion), but said it was mitigating the effect of the sanctions on Chelsea by allowing the club to continue to operate.

A special license “authorizes a number of football-related activities,” the government 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,” it added.

Deripaska is Abramovich’s one-time business partner, while officials described Sechin as Russian President Vladimir Putin’s “right-hand man.”

The four others — Miller, VTB bank chairman Andrey Kostin, Transneft president Nikolai Tokarev and Bank Rossiya chairman Dmitri Lebedev — are part of his inner circle,

Collectively, the seven have a net worth of about £15 billion, the statement read.

Prime Minister Boris Johnson called the sanctions “the latest step in the UK’s unwavering support for the Ukrainian people.”

Foreign Secretary Liz Truss added: “Today’s sanctions show once again that oligarchs and kleptocrats have no place in our economy or society.

“With their close links to Putin they are complicit in his aggression. The blood of the Ukrainian people is on their hands. They should hang their heads in shame.”

Protecting Chelsea

The government estimated his net worth at £9.4 billion ($12.3bn), but said it was mitigating the effect of the sanctions on Chelsea by allowing the club to continue to operate.

A special licence “authorises a number of football-related activities”, the government 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,” it added.

Deripaska, who has stakes in En+ Group, an Anglo-Russian green energy and metals company, is Abramovich’s one-time business partner, while officials described Sechin as Russian President Vladimir Putin’s “right-hand man”.

The four others – Miller, VTB bank chairman Andrey Kostin, Transneft chief Nikolai Tokarev and Bank Rossiya chairman Dmitri Lebedev – are part of his inner circle, according to the UK government.

Collectively, the seven have a net worth of about £15 billion ($19.2bn), the statement read.

British Prime Minister Boris Johnson called the sanctions “the latest step in the UK’s unwavering support for the Ukrainian people”.

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UK sanctions Chelsea owner

As part of the UK’s leading efforts to isolate Putin and those around him, these oligarchs are banned from travelling here and no UK citizen or company may do business with them….reports Asian Lite News

The UK on Thursday imposed sanctions on seven Russian oligarchs, including Chelsea soccer club owner Roman Abramovich and Oleg Deripaska, among others under which their assets have been frozen.

Sanctions are also imposed against Rosneft CEO Igor Sechin, Gazprom head Alexey Miller, VTB Chairman Andrey Kostin, Transneft President Nikolai Tokarev and Dmitri Lebedev, the chairman of the board of directors of Rossiya Bank.

“Foreign Secretary Liz Truss has today (Thursday 10 March) announced a full asset freeze and travel ban on seven of Russia’s wealthiest and most influential oligarchs, whose business empires, wealth and connections are closely associated with the Kremlin,” read the UK government’s press release.

Pic credits Twitter

As part of the UK’s leading efforts to isolate Putin and those around him, these oligarchs – who have a collective net worth of around pound 15 billion – will have their assets in the UK frozen, they are banned from travelling here and no UK citizen or company may do business with them.

“The Economic Crime Bill coming into force next week will also significantly simplify the process of imposing sanctions, allow the UK to more easily sanction individuals, stop oligarchs threatening the UK with multi-million-pound lawsuits for damages at the taxpayer’s expense and also allow the UK to mirror allies’ designations,” added the release.

“There can be no safe havens for those who have supported Putin’s invasion. Today’s sanctions are the latest step in our ruthless pursuit of those who enable the killing of civilians, destruction of hospitals and illegal occupation of Ukraine,” tweeted UK Prime Minister Boris Johnson.

“Today’s sanctions show once again that oligarchs and kleptocrats have no place in our economy or society. With their close links to Putin, they are complicit in his aggression. The blood of the Ukrainian people is on their hands. They should hang their heads in shame. Our support for Ukraine will not waver. We will not stop in this mission to ramp up the pressure on the Putin regime and choke off funds to his brutal war machine,” said Foreign Secretary Liz Truss.

These sanctions are the latest step in the UK’s response to Putin’s illegal and unprovoked invasion, designed to ensure he fails in Ukraine by crippling Russia’s economy supporting his war machine, added the release.

The UK has already sanctioned more than 200 of Russia’s most significant and high-value individuals, entities and subsidiaries since the invasion, with over 500 of them now covered by the UK’s sanctions list.

Meanwhile, Russian Foreign Minister Sergey Lavrov is holding a meeting with Turkish Foreign Minister Mevlut Cavusoglu and Ukrainian Foreign Minister Dmitry Kuleba in Turkey’s Antalya.

“In #Antalya, Russian Foreign Minister Sergey #Lavrov holds a meeting with Turkish Foreign Minister Mevlut Cavusoglu and Ukrainian Foreign Minister Dmitry #Kuleba,” tweeted the Ministry of Foreign Affairs of Russia. (ANI)

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Chelsea up for sale, confirms Roman Abramovich

Abramovich, 55, is alleged to have strong ties to Russian president Vladimir Putin, which he has denied….reports Asian Lite News

 Business tycoon Roman Abramovich’s future as Chelsea football club owner is in doubt after a Swiss billionaire claimed that he has been offered the chance to buy the club, BBC reported.

Hansjorg Wyss told a Swiss newspaper that Abramovich “wants to get rid of Chelsea quickly” after the threat of sanctions was raised in the Parliament.

Abramovich gave “stewardship and care” of Chelsea to its foundation trustees following Russia’s invasion of Ukraine.

Chelsea have chosen not to respond to Wyss’s claims.

The west London club always previously denied reports that they are up for sale, BBC reported.

Abramovich, 55, is alleged to have strong ties to Russian president Vladimir Putin, which he has denied. Other Russian billionaires have already been the subject of European Union sanctions where their assets have been frozen.

That has included Russian billionaire Alisher Usmanov, who has commercial links to Everton, BBC reported.

The UK government is yet to sanction Abramovich or Usmanov, but Labour MP Chris Bryant said in the Parliament on Tuesday that Abramovich was “terrified of being sanctioned which is why he is going to sell his home, and another flat as well”.

Wyss also said: “Abramovich is trying to sell all of his villas in England, he also wants to get rid of Chelsea quickly.

“I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.”

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Chelsea owner trying to broker end to war in Ukraine

Abramovich’s involvement followed a request from Ukrainian film producer Alexander Rodnyansky…reports Asian Lite News

Russian-Israeli billionaire Roman Abramovich, who owns the Premier League football club Chelsea, has come under pressure to speak out following the invasion of Ukraine by Vladimir Putin’s forces, PA Media reported.

There have been calls in the Parliament for him to face sanctions as a major oligarch “with links to the Russian state”, The Guardian reported.

A spokesman for the Chelsea owner said: “I can confirm that Roman Abramovich was contacted by the Ukrainian side for support in achieving a peaceful resolution, and that he has been trying to help ever since.

“Considering what is at stake, we would ask for your understanding as to why we have not commented on neither the situation as such nor his involvement.”

Abramovich’s involvement followed a request from Ukrainian film producer Alexander Rodnyansky.

There were no further details about Abramovich’s role, although it was acknowledged that his influence was “limited”, The Guardian reported.

“I can confirm that the Ukrainian side have been trying to find someone in Russia willing to help them in finding a peaceful resolution,” Rodnyansky said.

He added: “They are connected to Roman Abramovich through the Jewish community and reached out to him for help. Roman Abramovich has been trying to mobilise support for a peaceful resolution ever since.

“Although Roman Abramovich’s influence is limited, he is the only one who responded and taken it upon himself to try.

“If this will have an impact or not, I don’t know, but I am in contact with (Ukraine President Volodymyr) Zelenskiy’s staff myself, and know that they are grateful for his genuine efforts”.

Abramovich stepped back from day-to-day running of Chelsea on Saturday night, handing stewardship to the west London club’s charitable foundation trustees, The Guardian reported.

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