Chelsea owner Roman Abramovich has been sanctioned by the UK government as part of a response to Russia's ongoing military conflict in Ukraine, but could still sell the club.
Provided the Government issues a licence, only granted if Abramovich can prove he would not benefit from the sale, Chelsea could pass into new hands.
Earlier this month, the 55-year-old announced that he was selling the club after more than 18 years of ownership, pledging to donate all net proceeds to a new foundation to benefit victims of Russia’s war in Ukraine.
In the meantime Chelsea have been granted a special licence to continue operating, but on a significantly limited basis, with restrictions placed on ticket sales and merchandising, as well as a ban on the signing of new players and new contracts.
Chelsea's shirt sponsors, mobile communications firm Three, have also confirmed the suspension of their deal with the club.
Abramovich is one of seven further oligarchs to have their assets frozen over alleged links to Russian president Vladimir Putin.
The Russian-Israeli billionaire bought Chelsea in 2003 and has since bankrolled a period of unprecedented success, with the club winning 19 major trophies including five Premier League titles and two Champions Leagues.
When Chelsea lifted the Club World Cup earlier this year it meant they had won every major trophy possible under Abramovich's ownership.
Prime Minister Boris Johnson said: "There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine.
"Today’s sanctions are the latest step in the UK’s unwavering support for the Ukrainian people.
"We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies."
Chelsea are in next action when they travel to Norwich in the Premier League on Thursday.
In a statement released on Thursday afternoon, the club said: "We will fulfil our men’s and women’s team fixtures today against Norwich and West Ham, respectively, and intend to engage in discussions with the UK Government regarding the scope of the licence.
"This will include seeking permission for the licence to be amended in order to allow the Club to operate as normal as possible.
"We will also be seeking guidance from the UK Government on the impact of these measures on the Chelsea Foundation and its important work in our communities."
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