Roman Abramovich has been given 81 days to agree a deal to sell Chelsea, without making any profit, before the ‘licence’ that allows the club to play on to the end of the season expires on May 31.

Otherwise the survival of the Blues as a functioning entity cannot be guaranteed.

An astonishing day saw the government effectively take control of the Blues after the Russian billionaire was placed on the UK sanctions list.

As shirt sponsors Three suspended their £40m contract, Chelsea were facing a further potential near-£66m financial black hole with their Premier League and UEFA prize money likely to be withheld.

And it emerged that the ‘licence’ that will allow the club to play on to the end of the season will not be renewed unless Abramovich agrees a sale – and walks away without a penny.

Chelsea have been told that a deal must be agreed before the licence runs out on May 31 to guarantee the survival of the club as a functioning entity.

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The Prime Minister’s official spokesman explained: “A specific licence can be granted to allow any sale to proceed.

“But under no circumstance would any sale allow Roman Abramovich to profit from that or take any money from that sale,” TheSun quoted him as saying.

Under the licence, Chelsea, with a £333million-a-year wage bill and around 1,000 staff, can continue in business and pay wages.

But they are not allowed to sell any more tickets this season, likely to cost them £600,000 for each home Premier League game, and were forced to close the club’s Megastore.

Chelsea also have to ask for the terms of the licence to be varied so they can spend more than the permitted £20,000 per game on travel costs for away matches, with Champions League trips costing upwards of £60,000.

The Star