• Barclays has temporarily suspended the bank accounts associated with Chelsea FC, according to Sky Sports.
  • The British government froze all UK assets of Russian oligarch Roman Abramovich, but the team was granted a license to remain operational.
  • The bank reportedly needs time to fully assess the government's restrictions placed on the club.

In the wake of the economic sanctions the UK levied on Russian oligarch and Chelsea FC owner Roman Abramovich, Barclays has temporarily suspended the bank accounts associated with the West London club, according to Sky Sports.

The measure was reportedly taken to give the bank a chance to assess the special license that the UK government granted Chelsea Thursday. Unlike the rest of Abramovich's assets in the UK, which have been frozen indefinitely, the team has been allowed to continue operations but under specific restrictions. 

Among those:

  • The club cannot transfer, loan, or sign any players, provided the sanctions are still in place when the transfer window next opens;
  • No new tickets to matches will be sold; only those previously holding tickets are allowed to attend games;
  • The team's physical and online team stores have been shuttered, and no merchandise may be sold by the team;
  • The club can only pay up to £20,000 ($26,000) per game for travel costs. 

Additionally, the license doesn't allow Abramovich to sell the club, as he had intended to do. However, the government stated it would be open to a sale, provided none of the proceeds go to Abramovich. 

The club told Sky Sports it hopes the bank account freeze is temporary, as Barclays fully comprehends the restrictions put in place and will be lifted soon. A Barclays representative declined to comment. 

Chelsea defeated Norwich City 3-1 just hours after the UK government announced sanctions against owner Roman Abramovich and restrictions to the club's operations. Foto: Stephen Pond/Getty Images

Also in response to the sanctions on Thursday, Chelsea's jersey sponsor, European telecommunications company Three, suspended its relationship with the club and asked the team to remove its logos from the Blues' kits. Given just hours to react to that request, Chelsea was still wearing jerseys that bore Three's logo as it defeated Norwich City 3-1 Thursday evening.

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