Chelsea may ask the government to ease sanctions against them to save the club from financial ruin. It has been revealed that the club could go bankrupt in just over a fortnight, as ministers consider forcing through a £3 billion sale without Roman Abramovich’s permission or receiving any of the money.
Running out of Cash
According to a source, Chelsea could run out of liquid cash in 17 days as a result of the latest sanctions levied on Roman Abramovich. Following Russia’s recent invasion of Ukraine, the UK government sanctioned the club’s Russian owner. The proceeds from the sale will most likely be donated to a non-profit organization such as the Disasters Emergency Committee.
The Blues are unable to sell tickets or products to fans due to the fines imposed. They are also unable to sign any new players in the transfer window or renew the contracts of existing squad members.
As a result of the fines, the club’s sponsors have canceled their contracts. Three UK, Chelsea’s main shirt sponsor, has already discontinued their partnership with the club, with Hyundai and Nike certain to follow suit soon.
Money Lost Due to Unsold Tickets
Unless tickets were acquired before Thursday’s ruling, only season ticket holders will be allowed to attend games. Chelsea’s lowest ticket price is currently £47, implying a potential loss of £603,198 per game.
The Blues are scheduled to host Brentford, West Ham, Wolves, and Watford in the Premier League, as well as FA Cup and Champions League home matches, which may result in a £2.4 million deficit.
The Blues may run out of money sooner than intended as a result of this. The club only has a £16 million reserve in the bank. The players are paid a total of £28 million every month in salary. This does not include wages and salaries paid to non-playing personnel and other club employees.
Critical Situation for Chelsea
Due to a lack of funds, the club’s management will meet with the Department of Digital, Culture, Media, and Sport later today. They want the ban on the sale of matchday tickets repealed because it is one of their main sources of revenue.
If at all feasible, Chelsea will want the contract renewal ban lifted. Some of their major players’ contracts have less than six months left on them. Antonio Rudiger and Cesar Azpilicueta, for example, are among them.
Chelsea won 3-1 at Norwich City in the Premier League, despite the off-field drama. Trevoh Chalobah, Mason Mount, and Kai Havertz scored for the Blues rounding off a solid win at Carrow Road.
Chelsea had won four games in a row in the league, with three of them coming away from home. On Sunday, Thomas Tuchel’s side will face Newcastle United at Stamford Bridge. They next go to Lille for the second leg of their Champions League Round of 16 matches.
