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Abramovich Seeks to Release £2.5bn Chelsea Proceeds for Ukraine Support
Roman Abramovich has renewed efforts to unlock £2.5 billion from the sale of Chelsea FC, pledging the money to support Ukraine following Russia’s full-scale invasion.
The funds have been frozen in the UK since 2022, when Abramovich sold Chelsea under a special government licence after being sanctioned over alleged links to the Kremlin. From the outset, the billionaire committed to placing the entire net proceeds into a foundation dedicated to humanitarian assistance connected to the war in Ukraine.
A Deal Trapped by Sanctions
Abramovich sold Chelsea in May 2022 to a consortium led by Todd Boehly and Clearlake Capital. While the club changed hands, the proceeds were locked in a UK bank account, pending approval from UK government regulators. Officials have insisted that any release must comply strictly with sanctions and ensure the money is used exclusively for humanitarian purposes—such as aid for refugees, medical relief, and reconstruction—rather than any military activity.
Renewed Push to Free the Funds
Sources close to the process say Abramovich has intensified discussions with UK authorities to resolve legal and technical hurdles delaying the transfer. His representatives argue that prolonged freezing undermines the original pledge to help civilians affected by the conflict and that a clear governance structure can guarantee transparent, humanitarian-only spending.
Political and Legal Sensitivities
The case remains politically sensitive. Critics question whether Abramovich should retain any influence over how the funds are distributed, given the sanctions regime and the broader context of Russia’s war against Ukraine. The UK government has signalled it will not authorise a release unless there are watertight assurances on oversight and compliance.
What Happens Next?
If approved, the £2.5bn would represent one of the largest private humanitarian commitments linked to the war, potentially funding long-term relief and rebuilding efforts. Until an agreement is reached, however, the money will remain frozen—symbolising the complex intersection of sport, geopolitics, and sanctions that followed Russia’s invasion from Russia.
For now, the world watches to see whether a breakthrough can finally turn the Chelsea sale proceeds into tangible support for those suffering from the war’s devastation.
Attached is a news article regarding abramovich being told to give out 2.5 billion to support the war in Ukraine
https://www.bbc.com/news/articles/cx2e64lr3zeo.amp
Article written and configured by Christopher Stanley
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