Roman Abramovich pledged £2.5bn donation from Chelsea sale in 2022
Funds remain frozen as Abramovich objects to money being spent exclusively in Ukraine
Deadline of March 17 missed; legal action now being prepared by British government
Roman Abramovich Yet To Hand Over Chelsea Sale Funds Meant For Ukraine Victims; British Govt Vows ‘Further Steps’
The British government says it will take “further steps” to ensure Roman Abramovich honours his £2.5bn Chelsea sale pledge to donate proceeds to victims of Russia’s war in Ukraine, after missing a deadline
Summary
The British government said Tuesday it will take “further steps” to ensure Roman Abramovich releases the 2.5 billion pounds (then $3.2 billion) he pledged to donate from the sale of Premier League soccer giant Chelsea in 2022.
Abramovich was forced to sell Chelsea after his native Russia’s military invasion of Ukraine, and the London club was bought by a consortium led by American investors Todd Boehly and Clearlake Capital for what, at the time, was the highest price ever paid for a sports team.
Abramovich pledged to give the proceeds from the sale to victims of Russia’s war in Ukraine but the funds remain frozen amid a dispute between him and the British government, which says he has objected to plans for the money be spent exclusively in Ukraine.
Britain’s Press Association reported Tuesday that the government is preparing to take legal action against Abramovich after he missed a deadline of March 17 to hand over the money.
“We gave Roman Abramovich his last chance to do the right thing,” the government said. “Once again, he has failed to make the donation he committed to.
“We will now take further steps to ensure that the promise he made at the time of the Chelsea sale is kept.”
Published At: