10 March, 04:38 PM
Roman Abramovich (Photo: REUTERS/Alexander Ermochenko)
Roman Abramovich (Photo: REUTERS/Alexander Ermochenko)
The UK government is preparing to sue Russian oligarch Roman Abramovich to unlock over £2 billion from the Chelsea Football Club sale for Ukraine aid, The Guardian reported on March 10, citing its sources.
According to these sources, British officials are deeply frustrated by their inability to reach an agreement with Abramovich on how the funds should be used and are now prepared to pursue a public legal battle.
“Ministers are seeking ways to maintain cash flow to Ukraine after Donald Trump decided to freeze U.S. military aid to the country and halt intelligence sharing,” the publication wrote.
One source told The Guardian that the government believes “we are heading to court on this matter.”
“There are fundamental disagreements with Abramovich himself regarding where the money can be spent, and it seems the law will be the only way to resolve this issue,” the source said.
A spokesperson for the UK Foreign Office told the publication that the British government is “working hard to ensure the funds from the Chelsea sale are sent to humanitarian needs in Ukraine as soon as possible.”
“They are currently frozen in a British bank while an independent foundation is being established to manage and distribute the money,” the spokesperson said.
According to the source, negotiations are ongoing with Abramovich’s representatives, international experts, and partners, but British authorities are “prepared to push hard to resolve the situation.”
The Guardian’s sources added that while the UK government has yet to make a final decision on filing a lawsuit against Abramovich, officials consider it the most likely solution.
Abramovich’s representatives did not respond to requests for comment.
The Guardian noted that British Prime Minister Keir Starmer is under pressure following his recent decision to cut the humanitarian aid budget and redirect those funds to defense spending — prompting his push to unlock Abramovich’s money to fill the funding gap.
The proceeds from the Chelsea sale, now estimated at £2.7 billion, are held in a UK bank account controlled by Abramovich’s company Fordstam, the publication reported.
The UK government had previously promised to establish a foundation to handle the funds, to be led by former Unicef UK head Mike Penrose, but this has yet to happen.
According to The Guardian’s sources, UK Foreign Secretary David Lammy has invited Penrose to a meeting in Whitehall — the first since the Labour Party formed the new government — to discuss the possibility of releasing the Chelsea sale funds.
On May 27, 2022, the sale of Chelsea Football Club by Roman Abramovich to a U.S. investor consortium led by Todd Boehly was finalized.
The deal was worth £4.25 billion, with £2.5 billion directly allocated to the club’s share purchase.
On July 4, 2023, Penrose, who was set to manage the distribution of these funds, stated that the money could only be used in Ukraine and would be directed toward humanitarian programs.
On March 4, 2025, during an interview with BBC Radio 4, Lyra Nightingale, a legal counsel for the human rights organization Redress, said that £2.5 billion from Abramovich’s Chelsea sale “remains locked” — even three years later — despite plans to allocate it for humanitarian aid to Ukraine.
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