Chelsea’s bank accounts temporarily suspended: Reports

Chelsea Football Club are facing a financial crisis after their bank accounts were reportedly frozen Barclays following Roman Abramovich’s sanctions.
According to a report in Sky Sports, the London-based club also had their credit cards frozen.
The reason behind the move is reportedly because the bank needs time to assess the licence Chelsea has been given to continue football-related activities.
According to sources close to the website, the club are hopeful that the suspension will be lifted shortly.

“The licence allows the club to continue with day-to-day activities but the banks don’t have the risk appetite for it,” times.co.uk quoted a source close to the club as saying.
“They’ve frozen some of the corporate credit cards. It’s put a lot more pressure on the club,” it added.

Reality bites for #CFC. I’m at Under-23s game and went to get a much needed cup of tea and a bite to eat from the bar area. On autopilot, reached for my wallet. “It’s free,” replied the employee behind the counter. #Sanctions.
— Simon Johnson (@SJohnsonSport) March 11, 2022
As per another report Dominic Fifield of The Athletic, it is learned that since the suspension extends to company credit cards they have currently been left unable to buy fuel for the team bus.
The club’s future was already in doubt: Abramovich, whose $2 billion investment in Chelsea over 19 years transformed the team into a force in European football, had put the squad up for sale last week amid growing calls that sanctions be imposed on a man the government has labeled a “pro-Kremlin oligarch” linked to “destabilizing … undermining and threatening” Ukraine.
The British government also has alleged that Abramovich has obtained financial benefits from Putin’s adminration, including contracts in the buildup to Russia hosting the 2018 World Cup.
Chelsea will face Newcastle in their next Premier League match.
(With AP inputs)