Chelsea players are looking for ways out should Roman Abramovich’s punishments cause the club to go bankrupt.
Agents contacted attorneys overnight and yesterday to discuss possibilities if wage payments are delayed in the coming months.
If takeover bids fail, a number of Chelsea’s competitors are said to be circling.
Because of the Ukraine situation, CEOs may soon struggle to fulfill their monthly wage costs of £28 million (€25.6 million). The club’s parent business had just £17m (€15.5m) in cash at the end of last year’s finances. Lawyers acknowledged, on the condition of anonymity, that worried agents had inquired about athletes’ employment rights.
According to one legal authority, athletes may have to go unpaid for two months before a representation may cancel their contract. In light of Abramovich’s sanction, a court could rule in favor of a player who quits early.
Thomas Tuchel and his team have remained united in recent weeks, but representation has warned attorneys they need to know their alternatives if the club goes bankrupt.
Chelsea’s immediate financial situation remains unclear after giving up Abramovich’s financial backing, match-day cash, and prize money for only 24 hours.
Banks have reportedly stopped credit cards related to the club’s business accounts, making obtaining a loan difficult.
Nike has nine years left on its £60m (€54.9m)-per-year agreement and has yet to announce if it would continue to support the team after primary shirt sponsor Three pulled out. After Trivago declared yesterday that it will keep its £10m-a-year deal, the club has become hopeful.
Sources close to the UK government and Chelsea say officials would assist speed up any acquisition if the buyer was considered suitable and appropriate. Also, the present license may be tweaked to allow them to keep playing. Finance Ministers from both countries are still in negotiations with the club.
Chelsea’s banned jersey sponsorship might be replaced with a message of peace, according to Tuchel.
Chelsea defeated Norwich City 3-1 in their first match after Abramovich’s assets were blocked and Three suspended its sponsorship of the team.
For tomorrow’s match against Newcastle United, the sponsor’s name will be erased and Chelsea’s travel expenditures will be limited to £20,000.
Tuchel said: “We can always wear a message for peace. It can never be the wrong message. Maybe the worrying thing is to find enough shirts to play in, with the sanctions, but as long as the bus is full of fuel we will arrive and be competitive. When it’s a big storm you dig in, hold together, stay strong and go through it.”