London — The UK government is gearing up for a serious showdown with Russian businessman Roman Abramovich over £2.5 billion — the money from his sale of Chelsea Football Club. Abramovich had hoped to use the funds to help victims of Russia’s war in Ukraine, but the British government says the money must be spent strictly in Ukraine.
Since Russia’s invasion of Ukraine in 2022, Abramovich has been caught in the crossfire of sanctions aimed at Russian oligarchs. Forced to sell Chelsea quickly, the £2.5 billion from that sale has been frozen in a UK bank account ever since.
The British government insists that the money should be used only for humanitarian aid inside Ukraine, aligning with a broader European push to hold Moscow responsible for the devastating consequences of the war. Abramovich, however, wants the money to be distributed more broadly to all victims of the conflict.
In a rare joint statement on Tuesday, UK Finance Minister Rachel Reeves and Foreign Secretary David Lammy expressed frustration that no agreement has been reached so far, but emphasized that the government is ready to take the matter to court if needed.
“The government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion. We remain hopeful that Mr. Abramovich will work with us, but we are prepared to pursue legal action if necessary,” they said.
Abramovich’s legal team has not yet responded to requests for comment.
For years, under Abramovich’s ownership, Chelsea enjoyed unprecedented success. The club was sold last May to a consortium led by U.S. investor Todd Boehly and private equity firm Clearlake Capital, but the proceeds remain frozen, with strict rules preventing the money from being spent without special government approval.
The situation underscores the complex human and political challenges that continue to ripple from the war — and how billions of pounds from a beloved football club now hang in the balance between diplomacy, justice, and humanitarian need.
