The UK government need to decide whether to make an emergency move to block Roman Abramovich's plans, with the ex-Chelsea owner set to defy Keir Starmer
Roman Abramovich following his team's victory during the UEFA Champions League Final between Manchester City and Chelsea FC.
Roman Abromaovich sold Chelsea in 2022 and has not returned to football since.(Image: Alexander Hassenstein - UEFA, UEFA via Getty Images)
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Roman Abramovich is set to defy the UK government and register a charity to donate the £2.35billion proceeds from the sale of Chelsea. The move comes with those funds still frozen, and the government committed to releasing the pot onlyif it is to be spent within Ukraine.
Upon announcing the sale of the west London club, Abramovich committed to setting up a 'charitable foundation where all net proceeds from the sale will be donated'. He said funds would be designated for the 'victims of the war in Ukraine', leading to some dispute.
In an attempt to make progress, according to the Telegraph, Abramovich has now put his plan into action, and a foundation is being registered by former Unicerf chief executive Mike Penrose. Its mission, however, does not align with the government's request and is intended for all victims of conflict rather than only Ukrainian ones.
Abramovich had been set a March 17 deadline to release the funds, but the proceeds are currently out of the Russian's reach. Fordstam, a company owned by the 59-year-old, saw the money frozen with Abramovich sanctioned.
Penrose said in a statement: “I can confirm that I am preparing a submission to the Charity Commission to register a new foundation dedicated to supporting victims of conflict worldwide. I am confident in the strength of the board I have assembled, which brings together individuals with significant experience in humanitarian work across the globe.
“The application will be submitted this week. The foundation’s objectives are aligned with those set out in the deed of undertaking, and we are hopeful that, once the relevant legal matters are resolved, the foundation will be in a position to receive a donation.”
The charity's remit be will be "for the public benefit, the saving of lives and relief of suffering through the provision of humanitarian assistance to people in need anywhere in the world who are victims of conflict, by the provision of grant financing (or other suitable support) to organisations able to provide relief, humanitarian assistance, post-conflict support and/or reconstruction.”
It is now for the UK Government to act, having previously threatened legal action. They need to decide whether to make an emergency move to block the charity's registration.
Former Chelsea owner Roman Abramovich
Former Chelsea owner Roman Abramovich has pushed on with his plan(Image: Getty Images)
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A representative of Abramovich said: “Our understanding is that a foundation is currently in the process of being registered, which we welcome. Mr Abramovich maintains his intention to donate funds to humanitarian causes once the relevant legal obstacles are resolved.”
Prime Minister Keir Starmer has previously called on Abramovich to honour his word. He told the House of Commons in December: "Honour the commitment you made and pay up now, and if you don't, we are prepared to go to court so every penny reaches those whose lives have been torn apart by Putin's illegal war."