Football
Roman Abramovich granted permission to pump £30million into Chelsea despite sanctions
The UK government has allowed Chelsea owner Roman Abramovich permission to inject £30 million into the club for operational costs, according to a BBC story.
Despite the UK government’s sanctions on Abramovich, this continues to be the case.
The Blues’ cash flow worries have been alleviated when the government changed the conditions of the club’s special licence to allow the Roman Abramovich-owned Fordstam to transfer £30 million to fund running expenditures.
“Under this license, subject to the terms below, the Parent may pay the Club up to £30,000,000.00 in consideration of cashflow or liquidity challenges encountered by the Club,” according to the newly modified license.
Chelsea’s monthly salary cost is over £28 million, and Abramovich’s cash infusion will assist keep the club afloat until the club’s sale is completed, as Chelsea will not be able to collect revenue from ticket sales or goods.
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