The £2.35bn Chelsea sale fund, intended to aid victims of the Ukraine war, remains tied up due to a legal dispute between Roman Abramovich and the Jersey government.
Idman.Biz reports that while earlier reports suggested delays were caused by Abramovich’s reluctance to limit spending to Ukraine, court documents reveal a key factor has been the Russian billionaire’s legal battle over deleted government data linked to a prior investigation.
The funds, from Chelsea’s 2022 sale to the Todd Boehly-led Clearlake consortium, were frozen shortly after Abramovich faced UK sanctions over his Kremlin ties. Abramovich successfully challenged Jersey authorities, with the Royal Court describing their conduct as “extreme” and ordering them to cover his legal costs.
The UK Government has stated it remains committed to ensuring the funds reach Ukrainian humanitarian causes, though negotiations continue amid ongoing legal proceedings. The Jersey government denies conspiracy claims, emphasizing the independence of the courts.
Abramovich’s legal fight now represents the main obstacle to releasing the sale proceeds to war victims.
