Dangote’s hopes of buying Chelsea for 1.3 Trillion Naira extinguished by sanctions on Abramovich

The United Kingdom has responded to the ongoing Russia/Ukraine crisis by freezing all of Roman Abramovich’s assets in the UK and have imposed heavy sanctions on him due to his involvement with Russian president Vladamir Putin.

This means that Abramovich can no longer sell Chelsea because it is no longer his property which comes as a huge blow to all the potential buyers and investors who had been circling around and waiting to pounce on the opportunity.

One of those people is Africa and Nigeria’s richest man Aliko Dangote who had reportedly been planning to take advantage of the opportunity presented by Abramovich’s situation.

Dangote had always been a public admirer of Arsenal and had made multiple attempts to buy the club in the past but without success.

And with current Arsenal owner Stan Kroenke refusing to sell, it was reported that Dangote would look to turn his attention to Chelsea even though the man himself neither publicly confirmed nor deny the reports.

If indeed he wanted to really cough up the 1.3 trillion Naira required to buy Chelsea, he can no longer do so now that the property has been frozen.

As for Chelsea FC, they have been given a special licence to continue operating, but they will do so with restrictions hanging over them. 

While the asset remains frozen, the club cannot sell tickets, no merchandise sales are allowed and they cannot sign players or hand out new contracts.