Manager Keir Starmer has given former Chelsea owner Roman Abramovich a tough ultimatum to keep his promise to transfer £2.5bn from the club’s sale to aid Ukraine. The British government is preparing legal proceedings against the Russian oligarch if he fails to fulfill his promise to donate profits to the Ukrainian people.
Abramovich sold his football club in 2022 following sanctions imposed by Britain over his links to Vladimir Putin after the invasion of Ukraine. The funds were earmarked for humanitarian purposes related to the Ukraine conflict, but remain held in British bank accounts amid a dispute between Abramovich’s legal representatives and the British government.
Prime Minister Rachel Reeves today gave permission to allow funds to be transferred to a newly established foundation for humanitarian relief in Ukraine.
The billionaire has been warned that the government will take legal action if he fails to meet his commitments.
Speaking at PMQs, Starmer said: “Today, Mr Speaker, I can announce that we will be issuing a license to transfer £2.5 billion from the sale of Chelsea Football Club, which has been frozen from 2022.
“My message to Abramovich is this: The clock is ticking. Honor your commitments and pay now. If you don’t, we are ready to go to court to make sure every penny goes to those whose lives have been torn apart by President Putin’s illegal war.”
Mr Reeves said: “It is unacceptable that more than £2.5 billion owed to the people of Ukraine is left frozen in UK bank accounts. It is time for Roman Abramovich to pay it back. If he fails to act, we are prepared to do whatever it takes to ensure that money reaches the people of Ukraine.”
The government has committed to establishing a foundation to distribute the funds, which will be chaired by former UNICEF UK representative Mike Penrose.
Mr Reeves and Foreign Secretary David Lammy said in June they were “frustrated” by the failure to reach an agreement with Mr Abramovich over frozen earnings.
They said: “The Government is determined to ensure that the proceeds from the sale of Chelsea Football Club will be used for humanitarian purposes in Ukraine in the wake of Russia’s illegal and full-scale invasion.”
“We are very frustrated that we have not been able to reach an agreement on this matter with Mr. Abramovich so far.
“While the door to negotiations remains open, we are prepared to pursue this matter through the courts if necessary to ensure that those suffering in Ukraine benefit from these proceeds as soon as possible.”
