More trouble as Chelsea’s bank accounts frozen amid sanctions

The sanction against Chelsea due to their link to Russian billionaire Roman Abramovich has landed them in more trouble.

This comes as the latest report via The Times UK revealed that the bank accounts belonging to Chelsea had been frozen amid the sanction on the club by the UK government.

While Blues have been granted a special licence to continue with football-related activities, however, a proposed sale of the club has been paused.

The reports revealed that a special license expires on May 31 2022, but HM Treasury may vary, revoke or suspend this license at any time.

Also, the club’s bank accounts have now been frozen, leaving the club facing ‘financial paralysis’.

Although Chelsea were granted the license to carry on with day-to-day activities, some of the club’s corporate accounts, including credit cards have been frozen.

This is due to banks being ‘risk-averse’.

A source said: “The licence allows the club to continue with day-to-day activities but the banks don’t have the risk appetite for it.

“They’ve frozen some of the corporate credit cards. It puts a lot more pressure on the club.”