Abramovich to Fight UK Government Over Chelsea Sale Proceeds
Roman Abramovich, the former owner of Chelsea Football Club, is preparing to legally challenge the UK government’s attempt to seize the £2.35 billion ($3.1 billion) generated from the club’s sale in May 2022. The funds remain frozen in a UK bank account amid a dispute over their intended use for aiding victims of the war in Ukraine.
Background of the Dispute
In 2022, the UK and European Union imposed sanctions on Abramovich due to his alleged ties to Vladimir Putin’s regime following Russia’s invasion of Ukraine. This led to the forced sale of Chelsea FC to a consortium led by Todd Boehly. While the sale generated substantial funds, the UK government has sought to ensure the money is specifically allocated to humanitarian aid in Ukraine.
Government Pressure and Abramovich’s Response
UK Prime Minister Keir Starmer urged Abramovich to transfer the funds to a new foundation dedicated to Ukrainian humanitarian aid, stating the government was prepared to enforce this through legal action. However, Abramovich’s legal team, Kobre & Kim, has responded by asserting that the proceeds are “wholly” owned by Fordstam Ltd, a company fully owned by Abramovich.
The lawyers argue that Abramovich remains “fully committed” to charitable donations but blame the government for the delays, claiming there is no “legal basis” for the government to threaten litigation or unilaterally issue a license to transfer the funds. They contend that the government is treating the potential donation as a punitive measure against Abramovich.
Government Stance
Yvette Cooper, Britain’s foreign secretary, countered that the money was promised to Ukraine over three years ago and demanded Abramovich “do the right thing.” She warned that the government would take action if he refuses to comply. Starmer previously stated in December 2025, “the clock is ticking” on reaching a resolution.
Potential Legal Battle
Abramovich’s legal team has indicated they will contest any formal confiscation proceedings in court. They maintain that Abramovich initiated the donation proposal before sanctions were imposed and remains dedicated to using the funds for charitable purposes.
Ongoing Debate Over Asset Allocation
The dispute highlights a broader European discussion regarding the use of frozen Russian assets to fund Ukraine’s reconstruction. Britain seeks to ringfence the funds specifically for use in Ukraine, while Abramovich has previously indicated a desire for more flexibility in how the money is spent, initially suggesting it could benefit all victims of the war, potentially including Russian recipients.