Statement confirmed all proceeds would be placed in a frozen UK bank account and Russian owner Roman Abramovich, who is currently subject to sanctions by the British government, would donate all of the proceeds to charitable causes.
Russian oligarchs are estimated to hold "at least $1 trillion in wealth abroad, often concealed in offshore companies whose true ownership is hard to determine," the economists said in a letter to the G20.
Escaping turmoil back home, Russians are pouring into the emirate which offers a lax regulatory environment to secure their wealth.
Bayrak's company, willing to bid over $1.3 billion for the football club, is set to make the application by the Friday deadline.
Russian billionaire Roman Abramovich, who was sanctioned by the UK last week, put Chelsea up for sale on March 2 following Russia's incursion into Ukraine.
The latest sanctions follow three rounds of punitive measures which included freezing of assets of the Russian central bank following Russia's incursion into Ukraine.
“It is with extreme reluctance that we are asking the FA board to direct that the game be played behind closed doors for matters of sporting integrity,” Chelsea say after its owner Roman Abramovich was sanctioned last week.
Rabbi Daniel Litvak has been barred from leaving Portugal as an investigation looks into how Roman Abramovich was granted citizenship.
Abramovich was one of seven more oligarchs sanctioned this week by the UK following Russia's attacks on Ukraine.
Selling the football club or transferring players are not included on the list of permitted activities under a special licence that has scuppered Roman Abramovich’s plans to offload the London club.
Russian billionaire Roman Abramovich believes it is in the "best interest" of the Champions League holders if he parts ways with the club he has transformed since his purchase in 2003.
FIFA said that English Premier Football League club Chelsea was banned from signing players in the next two transfer seasons for breaching regulations over the transfer of minors.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2023 TRT World.
Like
Follow