Since March 2022, the UK government has frozen £5.3 billion of former Chelsea owner Roman Abramovich’s assets. Over three and a half years later, the funds remain inaccessible. Furious, Abramovich has filed a lawsuit, claiming the initial investigation was unlawful.
Abramovich purchased Chelsea in 2003 and spent 19 years building the club, earning acclaim as the greatest owner in club history. However, following the Russia-Ukraine conflict, his status in the UK dramatically reversed—from welcome to persona non grata, barred even from Stamford Bridge. In April 2022, the Jersey government froze £5.3 billion of his assets, including £2.5 billion from the sale of Chelsea. The UK demanded that Abramovich donate these funds to Ukraine, which he refused, insisting the money should remain untouched until a court ruling is delivered.
For three years, Abramovich retained top lawyers to challenge the freeze, but the government consistently refused. The Jersey authorities, who conducted covert investigations and raids, have now admitted wrongdoing and been found unlawful by the courts. Yet the UK government refuses to correct its mistake. Last week, the Prime Minister personally intervened, threatening Abramovich to donate all Chelsea sale proceeds to Ukraine or face legal action. According to The Telegraph, negotiations between Abramovich and the government have broken down.
