The UK government has warned it may take legal action against Roman Abramovich over the frozen £2.5 billion ($3.4 billion) generated from the 2022 sale of Chelsea Football Club, which was intended to support humanitarian efforts in Ukraine.
In a joint statement released late Monday, Finance Minister Rachel Reeves and Foreign Secretary David Lammy expressed frustration over the impasse with the former Chelsea owner, saying they are prepared to go to court if necessary.
“The government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine,” the ministers said.
“We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far.
“While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible,” they added.
Abramovich has reportedly insisted that the funds be used to help all victims of the war — including Russians — a position at odds with the UK government’s aim to direct the money solely toward Ukrainian humanitarian relief.
The £2.5 billion remains frozen in a UK bank account and cannot be released without a licence from the Office of Financial Sanctions Implementation (OFSI), as the funds are still legally Abramovich’s.
A consortium led by U.S. businessman Todd Boehly purchased Chelsea FC in May 2022 after Abramovich was sanctioned by the UK government in response to Russia’s invasion of Ukraine. The billionaire, who bought the club in 2003, oversaw Chelsea’s most successful era, winning major domestic and international trophies, including two Champions League titles and five Premier League crowns.
At the time of the sale, Abramovich stated that the net proceeds would be donated to charitable causes, but the final destination of the funds has remained a point of contention.
As diplomatic and legal negotiations continue, the UK government appears increasingly willing to escalate the matter in court to unlock the funds for Ukrainian relief.
