Roman Abramovich intends to push on with Chelsea sale proceeds despite political pressure from Starmer

Former Chelsea owner Roman Abramovich is moving ahead with plans to establish a charity for the £2.35 billion proceeds from the club’s sale, despite UK government demands that the frozen funds be used exclusively for Ukraine. When announcing the Blues’ sale, Abramovich pledged to create a charitable foundation where all net proceeds would go to “victims of the war in Ukraine,” a move that has sparked some controversy.

According to The Telegraph, Abramovich has now initiated the plan with former UNICEF CEO Mike Penrose overseeing the registration of the foundation. However, the charity’s stated mission differs from the government’s directive, aiming to support victims of conflict worldwide, rather than solely in Ukraine.

The UK had set a March 17 deadline for the funds’ release, but the £2.35 billion remains frozen under Fordstam, a company owned by the 59-year-old, following Abramovich’s sanctions, reports the Mirror.

Penrose confirmed: “I can confirm that I am preparing a submission to the Charity Commission to register a new foundation dedicated to supporting victims of conflict worldwide.”