Chelsea sale controversy: Prime Minister Keir Starmer warns ‘clock is ticking’

UK Prime Minister Keir Starmer has warned that time is running out for the proceeds of the sale of Chelsea to find their way to Ukraine.

Former owner Roman Abramovich faces the prospect of being sued by the UK, which wants to ensure the money is set to Ukraine following Russia’s invasion of the country in February 2022.

Abramovich was forced to sell Chelsea to Todd Boehly and Clearlake Capital for £2.5 billion after his assets were frozen in the wake of Vladimir Putin’s incursion.

The 59-year-old said at the time that all proceeds of the sale were bound for Ukraine, but the money remains frozen in a UK bank account.

In June, the UK threatened to sue Abramovich to ensure the money finds its way to those he had initially pledged to help.

With no movement on the case, Starmer has issued a warning to the Russian businessman to uphold his word.

“The clock is ticking on Roman Abramovich to honour the commitment he made when Chelsea FC was sold and transfer the £2.5 billion to a humanitarian cause for Ukraine. This Government is prepared to enforce it through the courts so that every penny reaches those whose lives have been torn apart by Putin’s illegal war,” Starmer said.

Chelsea sale proceeds to Ukraine: Why is Abramovich delaying?

Abramovich was given a licence to sell Chelsea on the basis that he would not directly benefit from the sale.

Although he cannot touch the money raised from the deal, it still legally belongs to him.

The billionaire had previously committed to sending the £2.5bn to “all victims of the war in Ukraine”, which would have included those in Russia.

The UK government is insisting that it be spent on humanitarian efforts in Ukraine.

No resolution has been made to this sticking point, and hence Abramovich retains control of the cash – something the UK is ready to go to the courts to resolve.

Related stories:

Chelsea Transfer News Today: Jamal Musiala revenge as January plan confirmed

Garnacho cameo could spell DISASTER for €56m Chelsea flop

The FootballTransfers app

Check out FootballTransfers’ new app for all of football’s big storylines, transfer rumours and exclusive news in one convenient place directly on your mobile device.

The FootballTransfers app is available on Google Play and in the Apple App Store. Download here:

•Google Play

•App Store