Roman Abramovich has been given 81 days to sell Chelsea, who are on the verge of folding after the United Kingdom government sanctioned the Russian billionaire, according to Metro UK.
According to the report, the government also granted Chelsea a ‘general licence,’ allowing the West London club to operate under restrictions that will have a significant impact on many Blues fans.
Chelsea have been told that a deal must be reached before the Premier League giants’ license expires on May 31 in order for them to continue operating as a viable business.
The UK government had on Thursday sanctioned Abramovich, who has owned Chelsea since 2003.
Abramovich’s links to Russian President Vladimir Putin’s regime forced the UK government to sanction him.
The likes of British property tycoon Nick Candy remain interested in buying Chelsea, but the reigning Champions League holders can now only be sold on the condition that Abramovich agrees to walk away without receiving any financial gain.