UK plans legal action against Abramovich for Chelsea sale proceeds
Britain is preparing to take former Chelsea owner Roman Abramovich to court in a bid to seize the £2.5 billion proceeds from the sale of the club and redirect the money to humanitarian relief in Ukraine, Sir Keir Starmer has warned, escalating a long-running standoff over funds frozen since 2022, reports BritPanorama.
The Prime Minister informed the House of Commons that Abramovich had been given a final opportunity to honour the commitment made at the time of Chelsea’s sale following Russia’s invasion of Ukraine.
If the Russian oligarch fails to release the money voluntarily, the Government is prepared to pursue legal action to ensure it is transferred regardless. During Prime Minister’s Questions, Sir Keir stated the Government was collaborating closely with international allies to unlock frozen Russian assets for the benefit of Ukrainians affected by the war.
Sir Keir confirmed that a licence has now been issued to allow the release of the Chelsea sale proceeds, which have been immobilised for more than three years. “We have been working on an update with our allies on frozen Russian assets to support Ukrainians in their hour of need,” he told MPs.
“Today, I can announce that we’re issuing a licence to transfer £2.5 billion from the sale of Chelsea Football Club, that’s been frozen, those funds, since 2022.” His message to Abramovich was clear: “The clock is ticking, honour the commitment that you made and pay up now, and if you don’t, we’re prepared to go to court so every penny reaches those whose lives have been torn apart by Putin’s illegal war.”
Abramovich sold Chelsea in May 2022 after being sanctioned by the UK Government due to alleged links to the Kremlin, which he has consistently denied. The sale was expedited under a special licence that permitted the club to change ownership but froze the proceeds on the condition that the money would be donated to charitable causes supporting victims of the war in Ukraine.
Despite ongoing negotiations, the funds have remained untouched, caught in legal and diplomatic limbo. The renewed pressure brings an extraordinary chapter in English football into sharper political focus.
Abramovich’s 19-year stewardship of Chelsea transformed both the club and the Premier League. Buying Chelsea in 2003 for £140 million, he ushered in an era of unprecedented investment, which saw the club win five Premier League titles, two Champions Leagues, five FA Cups, and two Europa Leagues.
His approach, marked by substantial spending and decisive management changes, reshaped expectations across football. However, Abramovich’s ownership also attracted scrutiny, with critics questioning the source of his wealth and the role of oligarch money in British football long before the invasion of Ukraine forced these issues to the forefront. As sanctions were imposed, Chelsea faced severe operational restrictions, stoking fears for the club’s future.
The eventual £2.5 billion sale to the Todd Boehly-Clearlake Capital consortium was welcomed as a rescue, stabilising the club and severing ties with its most controversial benefactor. More than three years on, however, the unresolved fate of the sale proceeds has emerged as a significant diplomatic flashpoint.
The future of the funds and their purpose will resonate within both football and foreign policy debates, not just about financial ethics but also about the broader implications of wealth and power in sport. It is a reminder of how the lines between sport and politics often blur, with stakes that extend far beyond the pitch.
