Now World ViewRoman Abramovich statement released in major update after clear Chelsea message sent
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Roman Abramovich's money from the sale of Chelsea in 2022 is still being held in a UK bank account, football.london understands. The Russian-Israeli oligarch pledged to use the funds to support victims of the Ukraine war.
It has been confirmed by the Foreign Office that the money generated has still not been released. Abramovich was among the high-profile Russian figures sanctioned by the UK government in 2022 after Vladimir Putin's invasion of Ukraine.
Then-Prime Minister Boris Johnson described Abramovich as being "pro-Kremlin" and stated that he would only be able to sell Chelsea if there was no personal benefit from the deal. A consortium led by Clearlake Capital and Todd Boehly completed a rapid takeover of the club in under three months.
During the period, in which Chelsea were unable to make money and had to stop selling matchday tickets and saw even the club shop closed, Clearlake-Boehly agreed to commit an initial £2.5billion to buying Abramovich out. More than £1.5billion more was promised as an investment into all aspects of Chelsea, from the stadium to foundation work, women's and academy teams.
Clearlake-Boehly have already spent masses of money on new players for the first-team squad and were the target of a protest from supporters last week. Abramovich’s name was sung during the fan-organised outcry and has been heard regularly at matches in recent weeks and throughout the Clearlake-Boehly tenure, especially when matters have turned sour.
It is now over three years since Abramovich was sanctioned by the UK. He said at the time that “all net proceeds from the sale will be donated for the benefit of all victims of the war in Ukraine." The £2.5billion is still untouched.
A spokesperson for the Foreign Office addressed the situation. “This government is working hard to ensure the proceeds from the sale of Chelsea FC reach humanitarian causes in Ukraine as quickly as possible," a statement reads.
“The proceeds are currently frozen in a UK bank account while a new independent foundation is established to manage and distribute the money. UK officials continue to hold discussions with Mr Abramovich’s representatives, experts and international partners, and we will double down on our efforts to reach a resolution.”
Now, under Labour, as opposed to Johnson's Conservative Party, things remain up in the air. Abramovich wrote off more than £1.5billion in debt during the sale process. He remains a popular figure within the fanbase.
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- Roman Abramovich
