Roman Abramovich's Assets Frozen; Needs UK Government's Permission to Sell Chelsea

The UK government froze the assets of Roman Abramovich on Thursday, which will halt the billionaire's attempted sale of Premier League club Chelsea.

Reuters' Michael Holden and William James reported Thursday the move, which included several oligarchs with links to Russian president Vladimir Putin, effectively puts the Blues under government control in wake of Russia's military invasion of Ukraine.

"There can be no safe havens for those who have supported Putin's vicious assault on Ukraine," Prime Minister Boris Johnson said. "We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies."

Along with a ban on transactions, the ruling also prevents Abramovich from entering or staying in Great Britain. A spokesperson for the Russian businessman declined comment to Reuters on the sanctions.

The government's decision has also resulted in Three requesting to temporarily suspend its sponsorship deal:

Abramovich announced Feb. 26, two days after Russia's invasion of Ukraine began, he was handing over control of Chelsea to the club's charitable foundation.

He provided an updated statement March 2, saying he'd put the club up for sale, with all proceeds set to go to those impacted by Russia's military action:

"The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and club. Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery."

Sources told ESPN that Abramovich received "multiple bids" for Chelsea before the asset freeze was enacted, but none reached his nearly $4 billion valuation of the club.

Among those to enter an offer was a group led by Todd Boehly, who has stakes in MLB's Los Angeles Dodgers and the NBA's Los Angeles Lakers, and Swiss billionaire Hansjorg Wyss, per ESPN.

A spokesperson for the Chelsea Supporters' Trust released a statement to ESPN asking for supporters to become involved in discussions about the team's future.

"The CST implores the government to conduct a swift process to minimize the uncertainty over Chelsea's future ... and for supporters to be given a golden share as part of a sale of the club," the spokesperson said.

The UK government said some of Chelsea's operations, including matches, can continue uninterrupted amid the ownership uncertainty.