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Chelsea ‘will run out of cash in just 17 DAYS with club chiefs set to beg Government to relax sanctions’
CHELSEA will today beg the Government to ease sanctions on them amid fears the club could go bust in just SEVENTEEN DAYS.
The Blues' billionaire owner Roman Abramovich was hit with several punishing financial measures on Thursday and had all of his UK-based assets - including Chelsea - frozen due to his relationship with Russian President Vladimir Putin.
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Abramovich is currently barred from selling the club, although the Blues brass will reportedly ask the Government for a special licence to sell up.
That's according to who claim the club's current cash reserves will burn out in a mere 17 days due to the sanctions imposed on them.
March 28 is currently the date the Blues are set to run out of dosh - which has prompted Chelsea chiefs to beg the Government to allow them to sell the club in a desperate bid to avoid going out of business.
Chelsea currently pay out a whopping £28million a month on wages for their star players.
READ MORE ON THE CHELSEA CHAOS
But recent accounts have shown the West Londoners only have £16million in the bank.
It's unclear what will happen to Chelsea should they run out of cash and go into administration.
A Premier League club has never gone into administration - so there is no precedent for exactly what will happen.
In the EFL - there is a strict 12-point deduction penalty which is applied to any clubs that fall into administration.
In the Premier League - that penalty is 9 points. Although it's not clear if it would be applied immediately - or at the start of next season.
The Blues are in financial chaos as the sanctions imposed on them will see them miss out on £600,000 per match day.
And shirt sponsors Three have temporarily suspended their £120m deal following the crackdown on Abramovich - who has been accused of being a Krelim crony of Putin's.
Kit manufacturers Nike are said to be 'considering' terminating their £900m contract with the Carabao Cup holders.
Abramovich put the club up for sale for £3billion last week in the wake of
But Government sanctions currently prevent the 55-year-old from cashing in on the SW6 outfit.
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The Government, however, will allow the oligarch to pass on ownership of the club so long as he doesn't pocket a penny from the sale.
Digital minister Chris Philp said: "As the licence conditions are written today the sale would not be allowed.
"If a buyer emerged then it would be open to that buyer or to the football club to approach the Government and asked for the licence conditions to be varied in a way that allowed that sale to take place.
"But to be clear, no proposal would be accepted which saw the proceeds of any sale ending up in an unrestricted bank account owned by Abramovich.
"He can't benefit from the proceeds of any sale."
British Billionaire Nick Candy is interested in acquiring the club, as well as American Todd Boehly.
Candy told The Daily Mail: We are examining the details of the announcement and we are still interested in making a bid.
"Clearly this is a time of great uncertainty for all Chelsea fans.
"In our view, no one is the owner of a football club – you are the custodian of it for the fans and the community."
On the pitch, it was business as usual for the high-flying Blues as they ran out 3-1 winners over relegation battlers Norwich on Thursday night.
After the match, Blues boss Thomas Tuchel said: "We can trust each other and this will not change.
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"As long as we have enough shirts and a bus to drive to the games we will be there and will compete hard."
Chelsea will be back in action on Saturday afternoon, welcoming Newcastle United to Stamford Bridge.
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