Abramovich, who was hit with UK sanctions in 2022<\/a> over his ties to Vladimir Putin, has previously pledged to donate the money to victims of the war in Ukraine. However, the funds have yet to be released, amid an ongoing legal dispute with the British government about how the money should be used.<\/p>\n The picture is further complicated by a separate criminal investigation by the Jersey authorities<\/a> into the original source of the oil tycoon\u2019s wealth.<\/p>\n There is also uncertainty about whether \u00a31.4bn in loans \u2013 part of a vast network of offshore companies<\/a> that the oligarch used to fund Chelsea\u2019s success \u2013 will be deducted from the final sum available for donation.<\/p>\n In the meantime, the money, an initial \u00a32.35bn, has been accruing interest rapidly, earning \u00a3114m in 2024 and nearly \u00a363m the year before that. The total is likely to have risen significantly because another two years have elapsed since June 2024, the latest date covered by the accounts.<\/p>\n Stefan Borson, a football finance expert who is head of sport at the law firm McCarthy Denning, said: \u201cWith the interest received, this now appears to be the most profitable football-related business in the world,\u201d a tongue-in-cheek reference to the lack of profitability among high-spending football clubs.<\/p>\n \u201cIt sheds no further insight as to what progress (or otherwise) has been made in distributing the proceeds of the sale.\u201d<\/p>\n The \u00a32.5bn proceeds remain frozen in a Barclays bank account owing to a dispute with the UK government, which pledged to take legal action<\/a> after Abramovich missed a March 2026 deadline to free up the funds.<\/p>\n The government wants the money to be earmarked for Ukraine but, according to reports, Abramovich is prepared to defy ministers by giving it to a foundation with a more global outlook.<\/p>\n A government spokesperson said: \u201cWe have been clear from the start that the proceeds of the sale of Chelsea<\/a> FC must be used for humanitarian causes in Ukraine. Roman Abramovich has yet to fulfil the commitment made at the time of the sale. The government is taking further steps to ensure that promise is kept, including continuing preparations for potential legal action if necessary.<\/p>\n \u201cOur absolute priority remains ensuring the funds reach the most vulnerable in Ukraine who have endured over four years of relentless suffering.\u201d<\/p>\n It is also unclear whether the donation will be reduced by any demand from Abramovich that Fordstam repays \u00a31.4bn in loans extended by his Camberley International Investment vehicle, based in Jersey.<\/p>\n
![\"\"](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/09\/1789151172_98_500.jpg\")
<\/p>\n