Three years after severing ties with the Premier League club, the British government continues to push for legal action to ensure the sale proceeds are directed toward victims of the conflict in Ukraine. ..Continue Reading
Abramovich was sanctioned following Russia’s invasion in 2022 and subsequently sold Chelsea, a two-time Champions League winner, to a consortium led by Todd Boehly and Clearlake Capital for £2.5 billion in May of that year.
In his new book, Sanctioned: The Inside Story of the Sale of Chelsea FC, the 58-year-old reflects on his departure from the club he helped transform over two decades.
When asked about Chelsea and the future, Abramovich said: ‘Perhaps one day there would be a situation where I could attend a match and say a proper goodbye, but nothing more than that.
‘I don’t have any interest in any role in a football club, certainly not a professional role.
‘There might be something where I could help with academies and youngsters, giving greater opportunities to people from difficult backgrounds, if there were an initiative that could make a difference.
‘But as for ownership or a professional role at a club, I am done with that in this lifetime.’
Before finalizing the sale, Abramovich stated that the net proceeds would be directed to a charitable foundation aimed at supporting all victims of the war in Ukraine.
However, the funds have remained frozen in a bank account, with the British government asserting that they have yet to reach those in need.
Earlier this month, Treasury chief Rachel Reeves and Foreign Secretary David Lammy issued a joint statement confirming that the government is prepared to take legal action to ensure the money is properly allocated.
‘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 are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far,’ they said.
‘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.’
Abramovich faced sanctions when the British government, under then-Foreign Secretary Liz Truss, took action against individuals with alleged ties to Russian President Vladimir Putin, labeling them as “oligarchs and kleptocrats” involved in his aggression.
Despite the sale of Chelsea, the proceeds remain Abramovich’s property, though they are frozen and cannot be accessed or transferred without approval from the Office of Financial Sanctions Implementation.
In his upcoming book, Abramovich addresses the accusations against him, stating that he refuses to let them become a distraction.
‘There is an old Russian saying, ‘The dogs bark but the caravan keeps moving,’ and that fits here,’ he also told the book’s author, Nick Purewal.
‘Whatever I do, people will always accuse me of some kind of agenda. In the end, I have done what I have done simply to try to help.’
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