Hull City manager confirms the end of the loan spell for Chelsea youngster Harvey Vale. (Photo by GLYN KIRK/AFP via Getty Images)
According to The Times (Subscription Required), Chelsea have been dealt another financial blow as the main shirt sponsor, Three, are looking to review their current deal following the United Kingdom government’s decision to freeze the club. They recently imposed a sanction on club owner Roman Abramovich leading to the organization’s current plight.
The UK Government took this stance as they look to make life difficult for those who supported Vladimir Putin and his Russian regime. The latter is currently engaged in an invasion of Ukraine, receiving worldwide condemnation for the actions. Abramovich has ties to Putin, which eventually resulted in his assets getting frozen, including Chelsea.
Now, Three, the club’s principal shirt sponsor, have confirmed that they are assessing the current circumstances to make necessary changes if required. Thomas Tuchel‘s side earns around £40million a year from their agreement, but that could now be affected by Three’s actions.
No one can really blame the Three for taking that stance since they are simply protecting their own interests. We saw similar instances in the past when Covid-19 initially wreaked havoc across world football. Premier League broadcasters reviewed their respective deals in that particular situation.
That being said, the impact of a potential revamped deal certainly cannot be taken lightly due to the financial impact it would have on the club’s budget. That coupled with the already imposed restrictions could greatly affect the day-to-day running of the club not to mention plans for the summer transfer window.
After all, restrictions on ticket sales and transfer business could prove to be detrimental if a solution cannot be found quickly enough. Abramovich can help us get through this plight if he agrees to a special dispensation that will see him earn nothing from the club’s sale.
The Russian oligarch should agree with the UK Government’s demands to protect the club’s interests. It’s not like he had any intentions to earn money from a potential sale, either. After all, the club owner had revealed in a club statement that he would not demand the club to repay the debts owed to him.
Moreover, Abramovich mentioned that all the money from the sale would go to a charitable foundation, which would be used to help the people in need in Ukraine. Since he would not have earned any amount going by his own words, one would expect him to accept the special dispensation from the UK Government. Whether that will happen or not remains to be seen.
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