‘Time Is of the Essence’: UK PM Keir Starmer Warns Roman Abramovich Over Chelsea Sale Funds

British Prime Minister Keir Starmer on Wednesday issued a strong and public warning to Roman Abramovich, the former owner of Chelsea Football Club, stating that “the clock is ticking” on the long-delayed transfer of funds from the club’s sale. The £2.5 billion (approximately $3.4 billion) remains frozen in the UK and was originally pledged to support victims of the war in Ukraine.

Speaking directly in Parliament, Starmer delivered a blunt message to the Russian-Israeli Billionaire, urging him to act without further delay. “Honour the commitment you made and pay up now,” the prime minister said. “And if you don’t, we are prepared to go to court, so every penny reaches those whose lives have been torn apart by Putin’s illegal war.”

The remarks mark the strongest intervention yet by the UK Government in a dispute that has dragged on for more than three years since the sale of Chelsea Football Club in May 2022. The funds have remained frozen amid legal and political disagreements over how the money should be distributed.

The issue resurfaced prominently after reports emerged suggesting that Starmer had consented to the transfer of funds to Ukraine, pending final legal clearance. A widely shared social media post claimed that Ukrainian President Volodymyr Zelenskyy would now receive the £2.5 billion that has been frozen since Abramovich left the UK following sanctions imposed after Russia’s invasion of Ukraine.

Government sources have previously acknowledged growing frustration within Westminster over the stalemate. As early as June, ministers admitted they had been unable to reach a consensus with Abramovich regarding the final allocation of the proceeds from the Chelsea sale.

At the heart of the dispute lies a fundamental disagreement. The UK government has insisted that the funds be used strictly for humanitarian relief in Ukraine. Abramovich, however, has maintained that the money should support all victims of the conflict, including civilians affected inside Russia — a position British officials have repeatedly rejected.

Chelsea Football Club was sold after Abramovich was sanctioned by the UK government due to his alleged links to Russian President Vladimir putin. The Premier League giants were ultimately purchased by a consortium led by US investor Todd Boehly, bringing an end to Abramovich’s nearly two-decade ownership of the club.

Despite the sale, the £2.5 billion raised remains frozen in a UK bank account. Legally, the funds are still considered Abramovich’s property and cannot be moved or distributed without a licence from the Office of Financial Sanctions Implementation (OFSI).

On Wednesday, Starmer informed Members of Parliament that the government was now taking decisive steps to break the deadlock. “I can announce that we’re issuing a licence to transfer £2.5 billion from the sale of Chelsea Football Club that’s been frozen since 2022,” he said.

Reinforcing the urgency of the matter, the prime minister added, “My message to Abramovich is this: the clock is ticking.” The statement signals that the UK government is prepared to escalate the matter legally if further delays occur.

Abramovich, now 59, purchased Chelsea in 2003 and transformed the club into one of Europe’s most dominant footballing forces. At the peak of his wealth, his net worth was estimated at $14.5 billion in 2021.

Under his ownership, Chelsea enjoyed the most successful era in its history, winning two UEFA Champions League titles, five Premier League trophies, five FA Cups, two Europa League titles, and a FIFA Club World Cup.

As political pressure mounts and legal options are placed firmly on the table, the fate of the £2.5 billion Chelsea windfall now appears closer than ever to being decided — with the UK government determined that the money ultimately serves those devastated by the ongoing war in Ukraine.