August 19, 2022

Chelsea pay out £28million a month in wages

Chelsea could reportedly go bust in just 17 days after club owner Roman Abramovich was sanctioned by the UK government as a result of his close ties to Russian president Vladimir Putin.

Abramovich, along with several other high-profile Russians with interests in the UK, was named in a government report, and later had all of their assets frozen.

The sanctions mean that Chelsea are unable to offer players new contracts, buy players and even sell tickets and merchandise – with Abramovich also currently barred from selling the south London club. However, the Blues chief will reportedly ask the Government for a special licence to sell the club.

As reported by the Daily Mail, Chelsea will ‘beg’ the Government to ease sanctions on them amid concerns that the club could ‘run out of money’ in 17 days.

The report adds that Chelsea currently pay out a staggering £28million a month in wages, with the most recent accounts showing reserves of £16million.

Given that the Blues are banned from raising money from tickets and merchandise – worth at least £600,000 per match day – it could take as little as 17 days for the club to go bust.

It comes after main sponsor Three temporarily suspended its £40m deal with the club following sanctions imposed on Abramovich by the UK government, with Nike, Hyundai and grocery delivery firm Zapp also thought to be considering ending their contracts with Chelsea.

On the pitch, Thomas Tuchel’s side secured comfortable 3-1 victory over bottom side Norwich on Thursday night, with Trevoh Chalobah, Mason Mount and Kai Havertz all getting on the scoresheet.

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However, Blues fans could once again be heard chanting the name of Abramovich – despite being asked not to by the club’s Supporters’ Trust.

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