Roman Abramovich Disqualified from Being Chelsea Director Due to Government Sanctions

The Premier League Board announced Saturday that Russian oligarch Roman Abramovich has been "disqualified" as director of Chelsea after being hit with government sanctions following Russia's military invasion of Ukraine.

Here's the Premier League's full statement:

"Following the imposition of sanctions by the UK Government, the Premier League Board has disqualified Roman Abramovich as a Director of Chelsea Football Club. The Board's decision does not impact on the club's ability to train and play its fixtures, as set out under the terms of a license issued by the Government which expires on 31 May 2022."

Abramovich, who's owned Chelsea since 2003, has released two statements since Russia's attack on its western neighbor began last month.

First, he announced Feb. 26 the Blues were being transferred to the care of the club's charitable foundation.

As pressure continued to mount, he confirmed plans to sell the club on March 2:

"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."

Matt Slater of The Athletic reported Friday the UK government allowed The Raine Group, the U.S.-based bank handling the sale, to move forward with the sale and there's "confidence" the process could wrap up within the next four-to-six weeks.

Although Blues players were allowed to continue training and playing matches, the situation has still had an impact on the club.

The Times reported Chelsea is facing financial uncertainty after its credit cards were frozen as part of the sanctions against Abramovich.

In the meantime, the Blues are facing strict restrictions on spending, including $26,000 for traveling to away matches and $1.17 million for hosting home fixtures, per ESPN's James Olley.

Abramovich's initial asking price for the Premier League side was $3.9 billion, but it's now uncertain whether he'll be able to attract anywhere near that amount given the pressure to complete the sale as quickly as possible, according to Olley.

Meanwhile, the Blues return to action Sunday when they host Newcastle United at Stamford Bridge.