Source:REUTERS/Peter Powell
[Saba Sports News] According to British media reports, the £4.25 billion proceeds from Roman Abramovich’s sale of Chelsea remain frozen. Latest accounts show the funds have generated approximately £250 million in interest to date. Disputes between the UK government and Abramovich over the ultimate use of the money remain unresolved, with the British side even issuing warnings of legal action. The interest income alone on the assets frozen following Abramovich’s sale of Chelsea has reached £250 million. In 2022, the former Chelsea owner was forced to sell the club for £4.25 billion. However, the funds are still held in a UK bank account, as the British government and Abramovich have failed to reach an agreement on their use. According to the annual accounts of Abramovich’s firm, Fordstam Limited, for the year ending June 2023, the funds generate around £63 million in interest annually.
The editor believes that the UK government’s position is clear: this fund can only be used to help Ukrainian victims. However, Abramovich’s side hopes the money can also be directed to Russia in addition to Ukraine, which the UK government deems completely unacceptable.