UK to Sue Roman Abramovich Over £2.5 Billion Chelsea Sale Funds

Alabi AbeebJune 3, 202534

UK Government Sues Roman Abramovich Over £2.5 Billion Chelsea Sale Dispute.
Frozen Chelsea Funds Spark Legal Battle Over Ukraine Aid.
Abramovich’s Standoff With Britain Leaves War Victims Waiting.

The UK government is trying to sue Roman Abramovich, the ex-owner of Chelsea, with regard to the £2.5 billion ($3.4 billion) frozen from the sale of the club and slated to assist victims of war in Ukraine.

Late on Monday, Foreign Minister David Lammy and Finance Minister Rachel Reeves expressed their frustration that no deal could be reached with Abramovich concerning the application of the proceeds from the sale in May 2022.

Roman Abramovich Stance

The billionaire wants the funds to be available to all victims of the conflict, including those in Russia.

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Whereas the UK government wants the funds to be used for humanitarian works in Ukraine,

Background on Abramovich and Chelsea Sale

After having been sanctioned for Putin’s illegal invasion of Ukraine, Abramovich was stripped of ownership of the Premier League titan by a cartel of investors under US investor Todd Boehly.

Status of the Frozen Funds

The frozen money at the moment is being held in an account in a UK bank.

The money still legally belongs to Abramovic and cannot be transferred without an authorisation from the Office of Financial Sanctions Implementation.

Also Read: Transfer News: Chelsea Secure Delap and Essugo Signings

Official Statement by Government Ministers

“The government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine,” declared the two ministers.

“We are deeply frustrated that it has not been possible to reach 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,” they added.