Chelsea have been handed a financial boost following the sanction of their owner, Roman Abramovich by the UK parliament. The Russian oligarch has been frozen out of the club, and has also been disqualified as a director.
As a result, he is not allowed to invest any money into the club to help them complete the season. Chelsea’s sponsors, Hyundai and 3 mobile have also suspended their relationships with the club.
After previously ruling out income for the club through ticket sales or merchandise, the Blues have been handed a lifeline to aid their finances.
Chelsea receive boost in finances after Abramovich sanction
The West London club were in danger of being driven to administration if they couldn’t meet their financial expenditure. But, they have now been given permission to access their TV revenue and prize money.
Chelsea could receive up to €131 million to help them finish the season, or until the new owners take over the club. This could be achieved through the €41 million from TV revenue, €46 million for finishing third in the Premier League, and a potential €43 million if they are able to win the Champions League again.
The Blues have also had their travel budget restricted to €24,000. But, they had already purchased their tickets for the Champions League trip to Lille. As a result, that fixture remains unaffected. The limit would potentially be lifted if they can progress into the quarter finals of the Champions League.
