Roman Abramovich legal battle with UK government over funds from Chelsea sale takes fresh twist | OneFootball

A legal battle between Roman Abramovich and the UK Government over funds from his sale of Chelsea Football Club could be impacted by a Jersey investigation into whether the money constitutes "proceeds of crime".

Accounts for Fordstam Limited, the company through which Abramovich owned Chelsea, reveal that a loan to Fordstam from another Abramovich entity, Camberley International Investments Ltd, is under scrutiny by authorities on the Channel Island. This investigation, the accounts state, could potentially include proceeds from the club’s sale.

"From judgments published by the Jersey Court in November 2025, it is understood that the funds provided by Camberley International Investments Limited may be affected by an ongoing criminal investigation initiated by the Attorney General of Jersey, into whether certain assets (potentially including the net proceeds) amount to the proceeds of crime," the Fordstam report detailed in a section titled ‘Principal risks and uncertainties facing the company’. Abramovich denies any wrongdoing.

The Jersey inquiry introduces a new layer of complexity to the ongoing dispute between Abramovich and the UK Government concerning the use of the money raised from the 2022 sale, which currently remains frozen in a UK account.

While media reports suggest Abramovich’s legal team insists on his right to allocate the money as he sees fit, the government maintains the funds must be ringfenced for Ukraine.

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Foreign Secretary Yvette Cooper insists the money from the sale should go to Ukraine (PA) (PA Wire)

Foreign Secretary Yvette Cooper underscored the government’s position, stating: "This money was promised to Ukraine over three years ago. It is time Roman Abramovich does the right thing but if he won’t we will act."

Abramovich faced sanctions and asset freezes by the UK government following Russia’s 2022 invasion of Ukraine, which ultimately compelled the sale of Chelsea to a consortium led by American businessman Todd Boehly.

Financial disclosures from Fordstam indicate the net proceeds from the Chelsea sale would amount to £987 million, after accounting for the repayment of a substantial £1.4 billion loan to Camberley.

Furthermore, the Fordstam accounts state that the Boehly consortium withheld £150 million for a five-year period to cover "losses incurred by any member of the CFC group from the period of the acquisition date to the payment due date resulting from any proceeding in relation to events which took place before the acquisition date".

Separately, Chelsea is understood to be anticipating a financial rather than sporting sanction in connection with 74 Football Association charges.

These charges relate to alleged rule breaches that occurred during Abramovich’s tenure at the club.

A club statement issued last September highlighted the "unprecedented transparency" demonstrated by the current ownership in cooperating with football authorities to bring these alleged breaches to light.