Roman Abramovich, who used to own Chelsea, is reportedly planning to go against the UK Government by starting a new charity that would send the £2.35 billion from the Blues’ 2022 sale to people affected by war all over the world. This action goes against the UK Government’s claim that the money can only be spent in Ukraine.
It seems that the registration with the Charity Commission is going ahead without the approval of the Ministers. This is likely to upset Keir Starmer’s Government, which has repeatedly threatened to take legal action against the Russian billionaire. Abramovich promised to give all the money from the sale of Chelsea to charity when the Todd Boehly-led Clearlake consortium took over the team in May 2022. However, the money has been frozen ever since he was sanctioned for allegedly having ties to Vladimir Putin.
Mike Penrose, who is in charge of registering the foundation, made a statement about it:
“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.”
A spokesperson for Abramovich also spoke about the development in a short statement:
“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.”
The charity’s stated goal is to save lives and ease suffering by giving humanitarian aid to people affected by conflict around the world. This will be done by giving grants to groups that can help with relief and rebuilding after the conflict. Jan Egeland, a former high-ranking Norwegian diplomat and Kofi Annan’s advisor at the UN, was initially chosen as the foundation’s interim chairman.
Why The £2.35 Billion Is Still Frozen After Almost Four Years Of Deadlock
The fight over Abramovich’s sale proceeds from Chelsea has been going on for almost four years, making it one of the most complicated financial standoffs in UK history involving sanctions. The UK Government granted permission to send money to a humanitarian foundation in December 2025. However, the Office of Financial Sanctions Implementation (OFSI) made it clear that the money could only be used for causes in Ukraine.
After that, Abramovich missed the March 17 deadline to send the money, which made things even worse with the Government. Officials from the Government said they are now preparing for a possible court case to ensure the money is released and used as planned.
A spokesperson for the UK Government made it very clear that the administration was angry:
“We gave Roman Abramovich his last chance to do the right thing. Once again, he has failed to make the donation he committed to. We will now take further steps to ensure that the promise he made at the time of the Chelsea sale is kept.”
Recent reports from Abramovich’s company Fordstam Ltd make things even more complicated. They say that only £987 million of the proceeds from the sale is considered a “net gain on sale”. The company also owes about £1.4 billion to Camberley International Investments, which is registered in Jersey. In April 2022, the Royal Court of Jersey froze about $7 billion of his assets.
Now, Jersey’s Attorney General has named Abramovich as a suspect in a criminal investigation. Since neither side seems willing to back down, the next few weeks could finally decide whether this long-running story goes to court or is settled through negotiation.