According to The Guardian, funds from the sale of football club Chelsea by Roman Abramovich have generated at least £175 million in interest while frozen in a UK bank account. Recent reports show that this has led one analyst to describe the company holding the frozen funds as "the most profitable football business in the world."

Financial reports for Fordstam Ltd, through which the Russian billionaire owned Chelsea, show that proceeds from the May 2022 sale have grown from £2.3 billion to nearly £2.5 billion.

Abramovich was sanctioned by the UK in 2022 due to his links to Vladimir Putin. He previously pledged to donate the funds to victims of the war in Ukraine. However, due to ongoing legal disputes with the British government over how the funds should be used, the money remains frozen.

The situation is further complicated by a separate criminal investigation by Jersey authorities into the original source of the oil magnate's wealth.

Another uncertainty concerns whether a £1.4 billion loan—part of a complex network of offshore companies Abramovich used to finance Chelsea's success—will be deducted from the amount eventually available for donation.

Meanwhile, the initial £2.35 billion has been rapidly generating interest, earning £114 million in 2024 and almost £63 million in the previous year. Given that the latest reports cover the period until June 2024, with two additional years having passed since then, the final sum has likely increased significantly.

Stefan Borson, head of the sports team at law firm McCarthy Denning and a football finance expert, said: "When you factor in the interest accrued, it now looks like the most profitable football business in the world," ironically highlighting the chronic unprofitability of high-spending football clubs.

He added: "It provides no further indication as to whether progress has been made on the distribution of the sale proceeds."

Due to the dispute with the UK government, the £2.5 billion in sale proceeds remain frozen in a Barclays bank account. The UK government has promised to pursue legal action if Abramovich fails to unlock the funds by a March 2026 deadline.

The government wants the money to go exclusively to Ukraine, but Abramovich reportedly intends to challenge ministers and direct the funds to a charity with a broader global focus.

A government spokesman said: "From the outset, we have been clear that proceeds from the sale of Chelsea Football Club should be used for humanitarian purposes in Ukraine. Roman Abramovich has yet to fulfil the commitment he made during the sale. The government is taking further steps to ensure this commitment is met, including continuing to prepare for potential legal action if necessary.

"Our absolute priority remains ensuring that these funds reach the most vulnerable people in Ukraine, who have endured more than four years of relentless suffering."

It also remains unclear whether the donation will be reduced by Abramovich's claim against Fordstam for repayment of the £1.4 billion loan. This loan was provided by his company Camberley International Investments, based in Jersey.

Kieran Maguire, a football finance expert, said: "It has never been clear whether Abramovich intended to donate all proceeds from the sale to a Ukraine relief fund, or only the profits."

He added: "The fact that the sum owed to his offshore company remains on the accounts suggests the latter is more likely."

The future of this loan is further complicated by two factors.

While Abramovich remains on the sanctions list, the money cannot legally be returned to him without permission from the Treasury's Office of Financial Sanctions Implementation.

Meanwhile, Jersey prosecutors are also investigating whether the proceeds from the Chelsea sale constitute criminal proceeds as part of an investigation into corruption and money laundering. The investigation focuses on the source of Abramovich's vast wealth, including his sale of the oil and gas company Sibneft. The Russian government acquired the company for $13 billion in 2005.

The Guardian approached Roman Abramovich's lawyers for comment.

Переведено ИИ.

Сайт AF теперь доступен! Читайте полные новости, комментарии, детали матчей и статистику на компьютере. Посетите: www.allfootballapp.com