The British government has seized the assets of Russian Roman Abramovich, owner of Chelsea FC, following sanctions against Russia for its invasion of Ukraine. The Russian billionaire has therefore decided to sell the club.

Until Chelsea FC has a new owner it is forbidden to terminate or sign new contracts with players. It is also forbidden to sell match tickets and have revenue from them.

Chelsea FC is one of the world's most valuable and highest grossing clubs. It is being sold for three billion dollars. Many are interested in buying the club, among them Saudi and British tycoons.

Although Roman Abramovich is under sanctions this does not prevent him from deciding what to do with the club. Among the possibilities for movement in management, Abramovich can still back out of the decision to sell the club.

The Russian billionaire has hired The Raine Group to sell the club and may veto offers from the United States and Britain because both countries have sanctioned oligarchs from his homeland in response to the war against Ukraine.

After the United States and Britain, the biggest offer so far for Chelsea FC comes from Saudi Arabia, which is offering £2.66 billion. But the British government may prevent the Saudis from buying Chelsea.