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Berliner Abendpost - UK threatens Abramovich with legal action over Chelsea sale funds

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Berlin - 03.07. 2025 - 14:08:19

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Liverpool football star Diogo Jota dies in car crash in Spain
Stock markets, dollar steady before US jobs data
'We will all miss you': Cristiano Ronaldo on Diogo Jota's death
Djokovic aims to step up history bid at Wimbledon
Reaction to Diogo Jota's death
British and Irish Lions call up former England captain Owen Farrell
Liverpool left 'devastated' by death of Diogo Jota
Ethiopia's mega dam on the Nile 'now complete': PM
US-Vietnam trade deal sows new China standoff
Hundreds evacuated as Greece wildfire rages on Crete

×

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UK threatens Abramovich with legal action over Chelsea sale funds

POLITICS 03.06.2025

UK threatens Abramovich with legal action over Chelsea sale funds / Photo: OZAN KOSE - AFP

Berliner Abendpost

The UK government is threatening former Chelsea owner Roman Abramovich with legal action over the frozen £2.5 billion ($3.4 billion) generated from the sale of the club, which has been earmarked to help Ukraine's war victims.

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Finance minister Rachel Reeves and foreign minister David Lammy said late Monday they were "frustrated" by the failure to reach agreement with Abramovich over where the funds of the May 2022 sale go.

The UK government want the funds to be directed towards humanitarian purposes in Ukraine, but the oligarch insists they be used for all victims of the conflict, including in Russia.

A consortium led by US businessman Todd Boehly bought the Premier League giants after Abramovich was sanctioned following Russian President Vladimir Putin's invasion of Ukraine, and the frozen funds are being held in a UK bank account.

They still legally belong to Abramovic and cannot be moved without a licence from the Office of Financial Sanctions Implementation.

"The government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine," said 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.

The 58-year-old Russian billionaire bought the club in 2003 and had an estimated fortune of $14.5 billion in 2021.

Chelsea enjoyed their most successful ever period under Abramovich, winning two Champions Leagues, five Premier Leagues, five FA Cups, two Europa Leagues and a Club World Cup.

R.Keller--BlnAP