UK Threatens Legal Action Against Roman Abramovich Over Chelsea Sale Funds
The United Kingdom has expressed its intention to bring Roman Abramovich, former owner of Chelsea, to trial over the freezing of 2.5 billion pounds sterling (approximately 3.4 billion dollars) from the sale of the football club. These funds, originally intended for the victims of the war in Ukraine, are in dispute.
Following the 2022 Russian invasion of Ukraine, the UK imposed sanctions on Abramovich, leading to the hurried sale of the Premier League club and the freezing of funds.
The British government insists that the funds be used exclusively in Ukraine, in line with the European effort to make Russia bear the costs of the war. Abramovich, for his part, seeks greater flexibility and wants the money to benefit all victims of the conflict.
“The government is determined to ensure that the proceeds from the sale of Chelsea Football Club go to humanitarian causes in Ukraine, following Russia’s illegal large-scale invasion. We are deeply frustrated that it has not been possible to reach an agreement with Mr. Abramovich so far,” said Rachel Reeves, British Finance Minister, and David Lammy, Foreign Secretary, in a joint statement.
Rachel Reeves and David Lammy
Both ministers pointed out that, although negotiations remain open, the government is “fully prepared to take legal action if necessary”.
Abramovich owned Chelsea between 2002 and 2022.
The funds from the sale of Chelsea are frozen in a British bank account and cannot be transferred or used without a license from the Office of Financial Sanctions Implementation, the agency of the Treasury responsible for enforcing sanctions.
Under Abramovich’s ownership, Chelsea experienced its most successful period before being sold to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital in May 2022.An interview with Abramovich, the first since 2006, is scheduled to be published next week in a book titled “Sanctioned” by Nick Purewal.
