UK lists Abramovich & 6 others & issues Chelsea Football Club General Licence [10 March 20222 @10:20am]

The UK has designated “oligarchs”

1. Roman Abramovich,
2. Oleg Deripaska,
3. Igor Sechin,
4. Andrey Kostin,
5. Alexei Miller,
6. Nikolai Tokarev and
7. Dmitri Lebedev..

Mr Abramovich is the owner of Chelsea Football Club, which is now subject to an asset freeze.

OFSI has published a blog and issued General Licence (GL) INT/2022/1327076 (Notice) concerning the Club, which authorises until 31 May 2022 the payment of:

1. Remuneration, allowances and pensions of all Club employees, including the wages of players and coaching staff.
2. Fees, dividends or other allowances to directors of the Club, payable under obligations which pre-date 10 March 2022 and are due before 31 May 2022, but not any fees, dividends or other allowances to Mr Abramovich.
3. Reasonable fees or other costs directly related to ongoing regular maintenance of the Club, including: rates, Council tax, insurance, ongoing maintenance and inspection to ensure safety and security of its site but excluding new capital works or refurbishment.
4. Reasonable costs of travel to and from fixtures (or training or practice) for players and essential staff, not exceeding £20,000 per game per team.
5. Reasonable costs necessary for the purposes of the Club hosting fixtures at its home grounds, including security, catering and stewarding, not exceeding £500,000 per fixture per team.
6. Inter-club payments to discharge obligations which existed before 10 March 2022 under player loan or sale arrangements.

Those who purchased tickets for a fixture or a Club season-ticket prior to 10 March 2022 may:

1. Attend fixtures and purchase refreshments while attending these fixtures; and
2. Make payments under contractual or other obligations entered into before 10 March 2022 in respect of season tickets.

In addition, the GL permits:

1. People/entities to pay the Club to discharge existing obligations under a player loan or sale arrangements.
2. Relevant institutions/bodies (including the English Football Association, the Premier League and UEFA) to pay revenue to the Club for broadcast licencing related to any fixtures and any performance fee.
3. The Club to receive funds, which must be frozen, from the discharge of existing obligations outlined above and broadcasting.
4. Broadcasters to broadcast any fixtures involving the Club.
5. The sale of existing stocks of Club merchandise purchased or produced before 10 March 2022, on the condition that no funds or other financial benefits are made available to the Club or Mr Abramovich.

Source

https://www.europeansanctions.com/2022/03/uk-lists-abramovich-6-others-issues-chelsea-football-club-general-licence/