Roman Abramovich must sell Chelsea before the threat of sanctions deters any bank from transferring the proceeds out of the country, according to a leading economic sanctions expert.
Abramovich, 55, announced he had made the "incredibly difficult" choice to put the Blues up for sale with a statement on Wednesday, insisting this was in the "best interest" of the club.
He is believed to be demanding £3billion for Chelsea and his decision comes amid mounting pressure for the government to implement sanctions against Russian oligarchs with assets in the United Kingdom following Vladimir Putin 's invasion of Ukraine last week.
Alisher Usmanov, the former Arsenal shareholder and Everton commercial partner, has already been hit with a full asset freeze and travel ban.
Before confirming he is selling Chelsea, Abramovich transferred the "stewardship and care" of the club to their trustees.
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Dr Nathanael Tilahun, an Assistant Professor in the Research Centre for Financial & Corporate Integrity, claims this move will count for nothing in the eyes of the law should Abramovich face UK government sanctions.
However, he explained Chelsea will be free to go about their financial transactions as usual if a new buyer completes a deal to take control of the club.
Abramovich, in contrast, may struggle to transfer the money raised from the sale out of the country as banks grow increasingly cautious about the growing risk of sanctions.
"If sanctions are going to materialise - I have my own doubts that would be the case - obviously Chelsea would be impacted," Tilahun told Mirror Football.
"Chelsea are owned by Abramovich and until last week were controlled by him. Last week, he gave control to the trust.
"From a legal point of view that did not make sense, because they will get to you whether you are in control or the owner. He devolved his control but ownership remains.
"Let's say ownership is passed, that technically frees Chelsea from the threat of sanctions; they would be free to undertake financial transactions.
"Obviously if Chelsea are sold, the proceeds go to the owner and we can only assume those funds - at least initially - would still be in the UK, so the challenge would be getting them out of the UK.
"That is especially true if the billionaire is sanctioned - if that becomes official and the government outlines a proposal - as banks will already have tried to take action.
"Banks take pre-emptive action sometimes before sanctions materialise."
Tilahun suspects Abramovich is not facing a race against time to sell Chelsea so much as a race to complete the transaction before the threat of sanctions grows too great.
"Once the rumours of sanctions are officially out there, the banks are supposed to do a risk-based analysis," he said.
"Their risk departments will come up and say, 'look guys, take a pause on this'. Timescale is not as important as the credibility of the rumour."
While Tilahun harbours doubts over Abramovich being sanctioned at all, he added: "Even if he is not, he might face trouble moving money out of the country if the rumours appear credible or talks are official.
"It is up to the banks to determine their risk appetite. The impact could hit you before the sanctions are listed."
