Roman Abramovich has been warned that he could be taken to court in order for the UK government to access funds generated from the sale of Chelsea in 2022. The Russian-Israeli oligarch had the money put into a frozen bank account three years ago.
After Abramovich was sanctioned by the UK government, then under the watch of Conservative Prime Minister Boris Johnson, he announced that almost two decades on from taking over at Stamford Bridge, Chelsea were up for sale. Following the Russian invasion of Ukraine, Abramovich was described as being 'pro-Kremlin' due to his alleged links with Vladimir Putin.
Earlier this year, football.london reported that £2.5billion from the sale of Chelsea to a consortium headed by American group Clearlake Capital and businessman Todd Boehly, was still stuck in the UK bank account. Abramovich had promised that "all net proceeds from the sale will be donated for the benefit of all victims of the war in Ukraine."
In March, a spokesperson for the Foreign Office said: "This government is working hard to ensure the proceeds from the sale of Chelsea FC reach humanitarian causes in Ukraine as quickly as possible. The proceeds are currently frozen in a UK bank account while a new independent foundation is established to manage and distribute the money.
"UK officials continue to hold discussions with Mr Abramovich's representatives, experts and international partners, and we will double down on our efforts to reach a resolution." Things have escalated since then with Chancellor Rachel Reeves and Foreign Secretary David Lammy going a step further.
"The Government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion," they said in a statement this week. "We are deeply frustrated that it has not been possible to reach an agreement on this with Mr Abramovich so far.
"While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required, to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.” Since Abramovich sold Chelsea the government has changed hands with Labour's Keir Starmer now in charge.
The Office of Financial Sanctions Implementation explained why things have taken such a long time. "This is a complex legal issue, but the UK is working with international partners, has engaged with Abramovich's team, and is exploring all options to ensure the proceeds reach vulnerable people in Ukraine who are most in need," the statement said.
"We are determined to see the proceeds reach humanitarian causes in Ukraine as soon as possible. We are doing everything we can to bring that about quickly."
Former sports minister, Richard Caborn, also added: "I have written to Keir Starmer to express my concern and ask him to get the Foreign Office to look at this as a matter of urgency, as we are now in a potentially fast-moving situation.
"This is more than £2billion from the sale of Chelsea which could do a huge amount of good in Ukraine but it is nearly three years now and not a penny has reached there." Meanwhile, Chairwoman of the DCMS select committee, Dame Caroline Dinenage continued: "What it needs for everyone’s certainty and peace of mind is for this issue to be brought to a swift conclusion as soon as possible."
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