Author: Azizur Rahman 15 March 2022
Rahman Ravelli were asked by ITV’s Good Morning Britain and BBC Radio 5 Live’s evening news show to answer questions about the effect of sanctions on Roman Abramovich, the Russian owner of Chelsea Football Club.
Rahman Ravelli told Good Morning Britain that Abramovich may not agree to sale of Chelsea and could, effectively, “let Chelsea rot’’.
Rahman Ravelli explained to 5 Live that conditions had been put in place to allow Chelsea to keep functioning. Rahman Ravelli added that they thought the government had been quite clever in structuring the sanctions in a way that preserves Chelsea’s ability to play matches and keep functioning as a going concern.
Rahman Ravelli said it remains to be seen how a sale could be managed in a way that would prevent Abramovich profiting from it. They emphasised that any deal would have to be done in conjunction with the government, with both Abramovich and any potential purchaser having to obtain the necessary licences.
The club, Rahman Ravelli suggested, could be transferred to a charitable organisation that could then complete the club’s sale. They said he thought the government would struggle to confiscate the club via a civil recovery order, as there appears to be no suggestion that the money Abramovich used to purchase Chelsea was obtained through criminal activity.
Rahman Ravelli added that there is a risk that Abramovich could prevent Chelsea “from being a player in the Premier League’’ and disrupt football as much as he can. But they said that Abramovich’s interests in the US – which have not yet been sanctioned – could be used as leverage to ensure he enables an orderly sale of Chelsea to take place.
You can watch Rahman Ravelli's appearance on Good Morning Britain by following this link. Rahman Ravelli appears at 15 minutes.
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.