LONDON: Lavish spending, sustained only by Roman Abramovich’s investment, funded Chelsea’s 21 trophies during his 19 years as owner.
Now there are fears the Premier League club could run out of money after the British government sanctioned the Russian oligarch and froze his assets.
A team that won the Champions League last year and was crowned world champions by FIFA a month ago has now had some banking facilities frozen with officials unable to use corporate credit cards while Barclaycard assesses what is permitted under government rules.
Chelsea is only allowed to continue operating and playing games under conditions set out by the government through a special license, with caps on spending and a prohibition on selling tickets that will impair the cash flow for a club with a last published wage bill of almost 28 million pounds ($36 million) a month.
Chelsea officials spent Friday in talks with the government to discuss how the club can continue to pay staff, operate Stamford Bridge on matchdays and ensure the club can be sold.
Abramovich had already announced plans to sell his trophy asset last week before he was sanctioned on Thursday over links to Russian President Vladimir Putin following the invasion of Ukraine.
The Raine Group, an investment bank, is working on the sale process on behalf of Abramovich, who remains owner of Chelsea. He originally hoped to divert the proceeds into a new foundation for the victims of the war in Ukraine, which he is yet to condemn Putin for launching. But the government will only sanction a sale that does not see Abramovich benefit as the government tightens the screw on influential it views as enabling Putin’s regime.
There are potential buyers waiting in the wings, including British property investor Nick Candy and Todd Boehly, a part owner of the MLB’s Los Angeles Dodgers.
“I would describe Chelsea as a distressed asset,” said Rob Wilson, a football finance expert from Sheffield Hallam University, “and the association that they’ve got with the owner is what’s distressing them.”
The only bright spots for Chelsea on its second day as a sanctioned entity were that no more sponsors suspended deals after the jersey backer, communications firm Three, asked for its logo to be removed. Jersey maker Nike was yet to halt its sponsorship. Another sponsor, hotel search website Trivago, said it would remain sponsor of the training kits.
“We are looking forward to a transition of ownership as soon as possible and want to support the club in this process,” Trivago said. “We will provide any update to our business relationship if and when appropriate.”
The statement condemned the “unprovoked and catastrophic invasion of Ukraine” without naming Russia. Hotels on its website could still be booked in Russia on Friday night.
Booking travel is a looming challenge for Chelsea. The trip to France to play Lille in the Champions League next week has already been bought. But the spending on travel to future games has been capped at 20,000 pounds by the government.
Chelsea can also only spend 500,000 pounds on matchdays — starting Sunday at home to Newcastle in the Premier League that the club has won five times under Abramovich. The league title had been won only once in the 98 years before Abramovich bought the club in 2003.
Only five times during his ownership has Chelsea made a profit, according to the respected Swiss Ramble account on Twitter that analyzes club accounts. There have been cumulative losses of around 900 million pounds in almost two decades of Abramovich’s ownership, while annual revenue has grown from 110 million pounds in 2003 to 435 million pounds in the last financial year.
Chelsea has been reliant on the 1.5 billion pounds of loans that Abramovich has pumped into the club which he has said he will not ask to be repaid.
The club can no longer even sell merchandise with the club shop closing within hours of the sanctioning announcement on Thursday. There is also a prohibition from the government on selling new tickets to generate revenue. Only season ticket holders can go to Premier League matches. There is the prospect of the stadium being empty for next week’s FA Cup quarterfinal against Middlesbrough and a potential Champions League last eight match as tickets for those games would not be included for fans who bought season passes.
The impact could be felt hardest by temporary staff no longer being required to work at matches.
“We would like the club to have the ability to trade as close to maximum capacity as possible,” said Dan Silver of the Chelsea Supporters’ Trust. “All these people rely on that (money) to put food on the plate. It’s harsh on them, and the punishment falling all the way downhill is harsh.
“We don’t want to have any jobs lost as a result of this, because the bigger picture is to keep everybody in the club protected and looked after.”
The priority will be avoiding having to go into administration — bankruptcy protection. History, though, could be repeating itself. Chelsea was sold for 1 pound in 1982 to Ken Bates due to financial trouble and then Abramovich stepped in with his 2003 takeover when there were further cash problems.
Chelsea financially perilous after Abramovich is sanctioned
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Chelsea financially perilous after Abramovich is sanctioned
- Now there are fears the Premier League club could run out of money after the British government sanctioned the Russian oligarch and froze his assets
- Chelsea is only allowed to continue operating and playing games under conditions set out by the government through a special license
Qatar fighting to keep World Cup dreams alive, says Lopetegui
Qatar are within “touching distance” of qualifying for the 2026 World Cup and will go all out against Iran and Uzbekistan over the next week to keep their dream alive, says new coach Julen Lopetegui.
Qatar, who hosted the 2022 World Cup but have never reached the tournament via the qualification route, cannot finish in the top two in Group A to earn an automatic berth in 2027 but can still secure a spot in the playoffs for teams finishing third and fourth.
The Gulf side are currently fourth on 10 points, four ahead of Kyrgyzstan.
Former Spain and Real Madrid coach Lopetegui takes charge of Qatar for the first time when they face group leaders Iran in Doha on Thursday before they close out the third round by visiting second-placed Uzbekistan on June 10.
“Qatar has never qualified for a World Cup through the qualifiers before, and it’s a dream we’re determined to fight for,” Lopetegui told FIFA’s website in an interview published on Tuesday.
“It’s within touching distance. We’ve got two games left to play, both of which will be incredibly difficult, and in quick succession.
“However, despite all the difficulties, we’re determined to give it our best shot to earn ourselves another chance of qualifying in October.”
Qatar have enjoyed considerable continental success in recent years, winning back-to-back Asian Cup titles, but Lopetegui said they are in a transitional phase and still finding their feet.
“There’s no doubt in anyone’s mind that this generation has achieved some very impressive things in the Asian Cup,” added the Spaniard, who was appointed coach in May.
“However, generations come to an end, and now we need to turn our attention to starting the process again, which will be no mean feat. While we do that, we’ll be doing our best to compete, which is the most important thing in the short term.”
FIFA’s inaugural Club World Cup set to kick off in the US amid challenges
- Lionel Messi’s Inter Miami face Saudi Arabia’s Al-Ahli in the opening fixture on June 15 at Miami’s Hard Rock Stadium, with tickets still widely available days before kickoff
- European champions Paris St. Germain are the in-form team heading into the tournament after their historic 5-0 thrashing of Inter Milan in the Champions League final on Saturday
- Whether you call it soccer or football, for FIFA the tournament represents a dress rehearsal and a referendum on America’s appetite for the sport
NEW YORK: FIFA’s billion-dollar gamble to revolutionize club football begins a week on Sunday with plenty of cash up for grabs but questionable enthusiasm as 32 teams prepare to contest the expanded Club World Cup in 12 stadiums across the United States.
The tournament — designed as a glittering showcase ahead of the 2026 World Cup — has had to contend with the prospect of empty seats along with controversial qualification rules and player welfare concerns after an exhausting European season.
Lionel Messi’s Inter Miami face Saudi Arabia’s Al-Ahli in the opening fixture on June 15 at Miami’s Hard Rock Stadium, with tickets still widely available days before kickoff.
A glance at FIFA’s website shows lots of tickets available, including for the July 13 final at New Jersey’s MetLife Stadium.
Messi’s presence underscores the tournament’s contentious foundations.
Inter Miami gained entry by topping Major League Soccer’s regular season standings, despite losing in the first round of the playoffs – a decision critics say shows FIFA’s desperation to have the Argentina great at their inaugural showpiece.
FIFA’s decision to give the host nation a spot and award it to Inter Miami underlined the opaque nature of the qualifying criteria for the tournament, which won’t feature Liverpool, Barcelona or Napoli who have all just been crowned champions of three of the most prestigious leagues in Europe.
Apart from the winners of each confederation’s premier club competitions, teams qualified according to a ranking based on their performances over a four-year period.
There is also the case of Club Leon, the 2023 CONCACAF Champions Cup winners, who were excluded from the tournament just over a month ago due to having shared ownership with another qualifier. The spot has gone to MLS’s Los Angeles FC.
Rights deal
Nailing down a last-gasp $1 billion TV rights deal with sports streaming platform DAZN six months before the tournament means a total of $2 billion in expected revenues.
That led FIFA to announce a total prize pot of $1 billion, with the winning club to receive up to $125 million.
That figure represents 25 perceent more than Paris St. Germain earned from their entire 17-match Champions League campaign.
But this largesse has not quelled concerns about player welfare, with the global players union FIFPro taking legal action against FIFA over a tournament that further compresses the precious recovery time between gruelling seasons.
Furthermore there is still concern over the playing surfaces after last season’s Copa America, when many headlines focused on the sub-par conditions and smaller pitch dimensions.
Those pitches, measuring 100 by 64 meters, were 740 square meters smaller than FIFA’s standard size, prompting widespread discontent among players and coaches.
FIFA has given assurances that this time the NFL stadiums hosting the matches will meet their specifications, confirming that all venues will feature natural grass and adhere to the standard regulation dimensions of 105 by 68 meters.
Divided into eight groups of four teams, top contenders include Real Madrid, winners of six of the last 12 Champions League titles, plus German champions Bayern Munich and 2023 Premier League and Champions League winners Manchester City.
European champions Paris St. Germain are the in-form team heading into the tournament after their historic 5-0 thrashing of Inter Milan in the Champions League final on Saturday.
But they must survive a tough Group B featuring South American and Brazilian champions Botafogo and 2024 CONCACAF winners Seattle Sounders plus Spanish giants Atletico Madrid.
Whether you call it soccer or football, for FIFA the tournament represents a dress rehearsal and a referendum on America’s appetite for the sport and on the world governing body’s vision for its commercial future ahead of the 2026 World Cup being co-hosted by the US, Mexico and Canada.
Djokovic, Sinner into French Open quarters as No.361 Boisson springs upset
- The 38-year-old Djokovic dusted aside Britain’s Cameron Norrie in three sets, his 6-2, 6-3, 6-2 victory on Court Philippe Chatrier
PARIS: Novak Djokovic sailed into a record 19th French Open quarter-final on Monday, while world number one Jannik Sinner dismantled Andrey Rublev in straight sets.
World number 361 Lois Boisson knocked out women’s third seed Jessica Pegula to become the first home quarter-finalist at Roland Garros since 2017.
The 38-year-old Djokovic dusted aside Britain’s Cameron Norrie in three sets, his 6-2, 6-3, 6-2 victory on Court Philippe Chatrier bringing up the Serbian’s 100th match win at the French Open.
His tally of 19 quarter-final appearances at Roland Garros is the record for a single Grand Slam tournament, surpassing Roger Federer’s 18 Wimbledon quarter-finals.
But Djokovic, a three-time French Open champion, is focused on much bigger goals as he chases a new outright record of 25 Grand Slam titles this week.
“I feel good. I know I can play better. But 12 sets played, 12 sets won, it’s been solid so far,” said Djokovic, who will likely face a much more difficult test against world number three Alexander Zverev.
“It’s great, but victory number 101 would be better. I’m very honored... But I need to continue now.”
Djokovic has not played anyone ranked higher than 73rd through the first four rounds. Zverev is last year’s runner-up and advanced when Djokovic retired injured from their last meeting in the Australian Open semifinals in January.
Zverev moved into his seventh Roland Garros quarter-final when Dutch opponent Tallon Griekspoor quit with an abdominal problem while trailing 6-4, 3-0.
The German is still hunting a first Grand Slam title. He lost the 2024 final to Carlos Alcaraz and then finished runner-up to Sinner in Melbourne.
“Novak Djokovic will never be a (dark) horse. For me, Carlos is the favorite,” said Zverev. “Then I would say the next three in line are Jannik, myself, and Novak, right? I still believe that.”
World number one Sinner fired a warning shot to his title rivals with a ruthless 6-1, 6-3, 6-4 victory over Russian 17th seed Rublev in the night session.
Sinner, who returned from a three-month doping ban last month at the Italian Open, will face the unseeded Alexander Bublik for a place in the last four.
Italy’s Sinner is targeting a third consecutive Grand Slam title after lifting the US Open trophy last year and winning his second successive Australian Open in January.
“Today was a very good performance but we try to keep going and see how it goes,” said the three-time major champion.
Bublik took down his second top-10 rival in Paris as the rejuvenated Kazakh came from a set behind to defeat British fifth seed Jack Draper 5-7, 6-3, 6-2, 6-4.
Bublik, ranked 62nd, is into his first Grand Slam quarter-final.
Boisson sent shockwaves through Roland Garros as she kept the French flag flying with an improbable 3-6, 6-4, 6-4 win over 2024 US Open runner-up Pegula, to join Coco Gauff and Mirra Andreeva in the last eight.
Boisson, 22, came from a set down against last year’s US Open runner-up to prolong her dream run on her Grand Slam debut.
She is the first French singles quarter-finalist in Paris since Caroline Garica and Kristina Mladenovic made it to the same stage eight years ago. Mary Pierce was the tournament’s last French champion in 2000.
“I really don’t know what to say,” said Boisson, who was roared on by the home fans on Court Philippe Chatrier.
“To play on this court with such an atmosphere was incredible. I was confident before the match and knew I could do it even if she was really strong.”
Boisson missed last year’s French Open after tearing the anterior cruciate ligament in her left knee a week before it started.
She is the lowest-ranked woman to reach a Grand Slam quarter-final since former top-20 player Kaia Kanepi at the 2017 US Open. Kanepi had dropped to 418th at the time.
Boisson goes on to face 18-year-old Russian rising star Andreeva on Wednesday for a place in the semifinals.
Sixth seed Andreeva moved through in straight sets as she cut short an attempted fightback by Daria Kasatkina to advance 6-3, 7-5.
Andreeva is through to her second major quarter-final, having reached the last four at Roland Garros 12 months ago when she knocked out Aryna Sabalenka.
World number two Gauff brushed Russian 20th seed Ekaterina Alexandrova aside 6-0, 7-5 to step up her pursuit of a first Roland Garros crown, and second Grand Slam title.
Former US Open champion Gauff will play reigning Australian Open champion Madison Keys in an all-American quarter-final.
Unseeded Frenchwoman Boisson stuns Pegula and joins No. 2 Gauff in the quarterfinals
- Boisson, a wild card entry ranked 361st, threw her head back and roared after beating third-seeded American Jessica Pegula 3-6, 6-4, 6-4 on Court Philippe-Chatrier in Monday’s fourth-round play
PARIS: Lois Boisson had never even played at the French Open before, let alone in the biggest arena at Roland-Garros, and now the unseeded 21-year-old Frenchwoman is through to the quarterfinals.
Boisson, a wild card entry ranked 361st, threw her head back and roared after beating third-seeded American Jessica Pegula 3-6, 6-4, 6-4 on Court Philippe-Chatrier in Monday’s fourth-round play.
Quite some victory, considering Pegula was the US Open runner-up last year. Understandably, Boisson was nervous as she served for the match and saved three break points.
After Pegula missed an easy-looking winner at the net, and then clutched her head in her hands, Boisson had her first match point, and the biggest point of her career so far.
Pegula returned a strong serve to the back of the court, where Boisson unleashed a brilliant forehand winner down the line. She then raised her arms in the air, realizing the enormity of her win.
“I really don’t know what to say, but ‘Thank you to all of you’” Boisson told the crowd in her post-match interview. “Playing on this court with such an atmosphere was really incredible.”
Boisson made the notoriously hard-to-please crowd laugh when she added: “I’m really happy on here. I can stay a long time if you like.”
The crowd broke into chants of “Lois, Lois” and she waved back to them.
She was in the news last month. British player Harriet Dart apologized to Boisson after asking the chair umpire to tell her to put some deodorant on. Now she’s the only French player — male or female — left at Roland-Garros.
Asked what her ambitions were for the rest of the tournament — she plays sixth-seeded Mirra Andreeva on Wednesday in the quarterfinals — she replied, “I hope to win, right?”
That prompted more laughter from the crowd at Court Philippe-Chatrier, which included tournament director Amelie Mauresmo, who has been criticized in some quarters for the lack of women playing in the night session.
Top-ranked Jannik Sinner was playing his fourth-round match later Monday in the night session against No. 17 Andrey Rublev, following 24-time Grand Slam winner Novak Djokovic’s match against Britain’s Cameron Norrie.
What else happened at the French Open on Monday?
In other women’s fourth-round play, second-seeded Coco Gauff, the 2023 US Open champion, won 6-0, 7-5 against No. 20 Ekaterina Alexandrova.
Over on Court Suzanne-Lenglen, the 18-year-old Andreeva, who reached the semifinals at Roland-Garros last year for her best performance at a major, won 7-5, 6-3 against No. 17 Daria Kasatkina. She playfully threw her wristband at Andreeva when they came to the net and Andreeva joked she would keep it.
No. 7 Madison Keys also advanced on Court Suzanne-Lenglen after beating Hailey Baptiste 6-3, 7-5 in an all-American contest. There’s another one coming up for Keys against Gauff.
In remaining men’s fourth-round play, No. 3 Alexander Zverev, last year’s runner-up, was leading 6-4, 3-0 against Tallon Griekspoor when the unseeded Dutch player retired from the match. He later said it was due to an abdominal strain.
Who is playing Tuesday at Roland-Garros?
The quarterfinals are underway, with two men’s matches and two women’s matches, all on Court Philippe-Chatrier.
Top-ranked Aryna Sabalenka faces Olympic champion Qinwen Zheng followed by defending women’s champ Iga Swiatek against No. 13 Elina Svitolina.
The first men’s contest sees eighth-seeded Italian Lorenzo Musetti take on No. 15-seeded American Frances Tiafoe, before defending champion Carlos Alcaraz plays 12th-seeded American Tommy Paul.
Gauff into fifth successive French Open quarter-final
- Coco Gauff reached a fifth successive French Open quarter-final on Monday as the world number two brushed Russian 20th seed Ekaterina Alexandrova aside 6-0, 7-5
Gauff raced through the opening set backed by three breaks of serve. Alexandrova put up more of a fight in the second set but Gauff eventually closed out victory in 82 minutes.
The 21-year-old Gauff will play reigning Australian Open champion Madison Keys or unseeded Hailey Baptiste in an all-American quarter-final.
