Former Chelsea owner Roman Abramovich has been warned by the UK Government that "time is running out" for him to hand over billions of pounds from the sale of the Premier League club to the Ukraine before it is taken out of his hands.
The former Blues owner was sanctioned by the UK government in 2022 as part of its response to Russia's invasion of Ukraine and the decision was made to sell the club.
American billionaire Todd Boehly and Clearlake Capital would go on to buy the club in a £4.25billion deal, but Abramovich made it clear money from the sale would go to Ukraine.
However, that money has so far not made its way to humanitarian causes in the Ukraine and remains frozen in a bank account.
Roman Abramovich Made Decision To Sell Chelsea After UK Sanctions
Former Chelsea owner Roman Abramovich
Abramovich was alleged to have strong ties to Russian President Vladimir Putin, although that was denied. In a statement outlining his plans to sell the club four years ago, Abramovich said: "I have always taken decisions with the club's best interest at heart.
"In the current situation, I have therefore taken the decision to sell the club, as I believe this is in the best interest of the club, the fans, the employees, as well as the club's sponsors and partners.
"The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid.
"I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine."
Abramovich agreed to transfer the cash after selling the Blues, but has so far failed to reach an agreement and the funds remain frozen.
UK Government Issue Warning To Former Chelsea Owner
Chelsea v Sunderland - Premier LeagueLONDON, ENGLAND - DECEMBER 19: Chelsea owner Roman Abramovich is seen on the stand during the Barclays Premier League match between Chelsea and Sunderland at Stamford Bridge on December 19, 2015 in London, England. (Photo by Clive Mason/Getty Images)
Now, UK foreign secretary Yvette Cooper has told the Russian oligarch that time is running out.
She said: "We said that we would give him time to comply. That is following the proper process and time is running out for him. He should do this because this is money that he holds from the sale of Chelsea.
"We know that this has been a huge benefit as a result of the Russian regime. And we think that money needs to go for the people of Ukraine. He has got this final chance. Now the clock is ticking on him."
Cooper's comments come just two months after UK Prime Minister Sir Keir Starmer told Abramovich to pay up or face court action.
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Roman Abramovich was forced to sell Chelsea due to his relationship with Vladimir Putin, and he's now received a warning from the UK government.