The UK government has issued a warning to former Chelsea owner Roman Abramovich, indicating potential legal repercussions for not releasing £2.5 billion from the club’s sale to support Ukraine.
Abramovich, aged 59, was compelled to sell Chelsea in 2022 due to sanctions following Russia’s invasion of Ukraine. Despite being sanctioned, he received permission to sell the club to a consortium, including Todd Boehly and Behdad Eghbali, with the condition that the proceeds would aid Ukraine war victims.
However, a dispute has arisen over the allocation of the funds, as recent accounts from Abramovich’s company, Fordstam, reveal an intention to donate only £987 million to charity after repaying interest-free loans used for Chelsea, falling short of the total sale amount.
The deadline for releasing the funds has passed, prompting reports from Sky that the UK government is preparing for potential legal action against Abramovich.
A government spokesperson stated, “We provided Roman Abramovich with a final opportunity to fulfill his commitment. Once again, he has failed to make the pledged donation. We will now take necessary steps to ensure the promised contribution from the Chelsea sale is honored.”
Abramovich contends that the frozen funds in a British bank account should benefit all war victims, potentially including Russians.
Prime Minister Keir Starmer cautioned Abramovich that legal action would ensue if the payment was not made within 90 days of the license granting fund release for humanitarian causes in Ukraine, issued in December.
Starmer emphasized, “Fulfill your commitment and make the payment promptly. Failure to do so will result in legal action to ensure that every penny reaches those affected by Putin’s illegal war.”