Roman Abramovich’s lawyers fire back at Keir Starmer in bid to keep control of £2.35bn Chelsea money
Roman Abramovich’s legal representatives have declared that the £2.35billion proceeds from Chelsea’s sale remain entirely his property and warned the Russian oligarch is prepared to contest any seizure attempts.
The letter, dispatched on Monday, directly challenges Sir Keir Starmer’s December ultimatum that demanded the sanctioned Abramovich to “pay up now” or face court proceedings.
Abramovich’s counsel maintains there exists “no legal basis” for the Government’s threats regarding the frozen funds.
The correspondence emphasises that although the money is currently frozen, it belongs to Fordstam Limited, Abramovich’s UK-registered company.
The lawyers said: “It is important to emphasise that the funds although currently frozen remain the property of Fordstam Limited, which is wholly owned by Mr Abramovich.”
The correspondence launches a scathing attack on what it describes as “politically charged and highly publicised statements made by the UK Government”.
Abramovich’s lawyers also argued that this confrontational approach reflects a pattern of mishandling that has lasted nearly four years.
The letter added: “Unfortunately, this approach is consistent with the manner in which the UK Government has handled this matter since the sale of Chelsea FC in 2022 across the tenure of four prime ministers and five foreign secretaries.”
Roman Abramovich’s legal representatives have fired back at the UK Government
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The legal team accuses ministers of acting without proper authority, claiming the Government “has now chosen to threaten litigation and to issue a licence unilaterally, without having a legal basis for doing so”.
This marks the first occasion that communications from Abramovich’s camp to UK authorities have been made public.
The impasse dates back to April 2022, when the Royal Court of Jersey imposed a freezing order on $5.25billion worth of Abramovich’s assets, just weeks after he pledged to donate the proceeds from Chelsea.
Jersey’s attorney general identified Abramovich as a suspect in a criminal investigation, triggering an ongoing legal battle as the Russian, who denies any wrongdoing, seeks to clear his name.
The letter directly challenges Sir Keir Starmer’s December ultimatum demanding the sanctioned oligarch ‘pay up now’ or face court proceedings
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PAComplicating matters further, Fordstam carries an outstanding £1.5billion debt to Camberley International Investments, the Jersey-based parent company also subject to an assets freeze.
A fundamental disagreement remains over how the charitable funds should be distributed.
The Government insists money must be spent exclusively within Ukraine to prevent any risk of it reaching Russia.
Abramovich, however, backed by organisations including Save the Children, argues the conflict has created humanitarian crises extending beyond Ukrainian borders.
Roman Abramovich was a popular owner during his time at Chelsea | PADespite the standoff, Abramovich’s lawyers insist he remains dedicated to fulfilling his original charitable pledge.
The letter said: “The proposal to donate these proceeds was initiated by Mr Abramovich prior to the imposition of sanctions, and he remains fully committed to ensuring that the funds are used for charitable purposes. As such, any donation will be made voluntarily by our clients.”
The Prime Minister’s December intervention represented the second occasion in six months that ministers had threatened legal action against the billionaire.
Former officials involved in earlier negotiations have cautioned that attempting to seize the funds would constitute a “nuclear option” that could unsettle financial markets.
