Chelsea’s bank account has been temporarily suspended by Barclays in addition to the sanction against their billionaire owner, Roman Abramovich by the UK government.
The purpose behind the suspension is that the bank has to assess to review all the license Chelsea have been given to continue their routine activities and they (bank) needs time to do so.
This suspension of their account includes the temporary suspension of their credit card too that is, the club doesn’t have access to their finance at the bank presently.
Sky Sports journalist, Kaveh Solhekol while reacting to the current wake up on Chelsea football club said: “Barclays suspending Chelsea’s bank account is going to have serious, serious repercussions for the club” “The bank account being frozen means they can’t spend any money, even on the smallest things, let alone bigger payments like paying their players”
“The issue Barclays have got is that the bank account is in the name of Chelsea but the owner is still roman Abramovich, who has been sanctioned by the UK government
“Nobody in the UK is allowed to do any business with Abramovich. Chelsea has a special license to carry on their football – related activities but Barclays have to be sure they are comfortable taking the risk of carrying on providing banking services to Chelsea. Most banks are very risk – averse”
“They do not want to do business with people that have been sanctioned by a government. Just because the UK government say Chelsea can continue to carry on and play games it doesn’t mean Barclays is going to be comfortable wit that arrangement. It’s well within their rights to withdraw banking services completely. But this is a temporary suspension and Chelsea are hopeful the suspension will be lifted shortly.”
“And from their point of view, it has to be lifted shortly as this could have serious ramifications for the short – term future of Chelsea” “The bank will want to be sure that Chelsea are spending the money on what the government have allowed them to”