Russian oligarch Roman Abramovich has assembled a high-profile legal team to challenge Jersey authorities over more than £5.3 billion in frozen assets from the 2022 sale of Chelsea Football Club, funds partly earmarked for Ukrainian war victims, as a protracted court dispute continues to delay their release amid ongoing investigations.
Roman Abramovich, the sanctioned former owner of Chelsea FC, has enlisted top lawyers including a former White House aide and a leading UK barrister to fight Jersey’s freeze on over £5.3 billion in sale proceeds in the Channel Islands, where the assets remain locked since 2022, preventing their allocation to a charitable foundation for Ukraine war victims as required by the UK government’s sale licence.
Abramovich Bolsters Legal Defence in Jersey Court Dispute
Roman Abramovich has gathered a formidable legal team as a lengthy court battle in Jersey persists, blocking the release of billions from the Chelsea sale intended to aid Ukrainian conflict victims, according to reports from The Telegraph. The team includes Eric Herschmann, a former advisor to Donald Trump in the White House, and Lord Wolfson KC, a prominent figure in the House of Lords, supported by Howard Sharp, a former solicitor general of Jersey, Maya Lester KC, a sanctions and human rights law specialist, Richard Lack, an expert in complex finance, and others, as detailed by The Telegraph. These lawyers are preparing claims for £2.5 million in costs from the Jersey government, which Abramovich has already partially secured through a court ruling, according to The Times via RBC-Ukraine.
As reported by The Telegraph, Abramovich’s representatives argue that a £1.5 billion debt owed to Camber International Investments, the Jersey parent company with frozen assets, complicates the fund structure, insisting it cannot be disentangled until the Jersey freeze is lifted, though sources maintain this will not reduce the amount for Ukraine.
Background to Chelsea Sale and Asset Freeze
Roman Abramovich acquired Chelsea Football Club in 2003 but stepped down as director in 2022 following Russia’s invasion of Ukraine and subsequent Western sanctions linked to his ties with Vladimir Putin, prompting the sale of the club, as outlined by RBC-Ukraine citing The Times. The deal completed in May 2022 for $5.4 billion (£2.35 billion net proceeds after taxes) to a consortium led by Todd Boehly, with the UK government issuing a licence on condition that all net proceeds support war victims in Ukraine via a charitable foundation, according to RBC-Ukraine.
Origins of Jersey Investigation and Frozen Funds
Since 2022, Jersey courts have frozen the funds held in a bank account by Fordstam Ltd, Chelsea’s former parent company owned by Abramovich, amid a local government probe into their origins, with Abramovich’s side stating £1.4 billion of the £2.35 billion cannot be allocated until the investigation and court actions end, per The Times as reported by RBC-Ukraine. Abramovich’s lawyers have declined discussions on release mechanisms while the Jersey challenge remains active, and insiders note the team’s strength matches Jersey’s resources, according to The Telegraph. The UK government previously sought an agreement for humanitarian use but later indicated no deal was reached, pursuing legal action, as previously covered by RBC-Ukraine.
Government Stance and Political Pressures Mount
UK Foreign Office minister Stephen Doughty has stated the government remains confident in its legal position, including on the Jersey litigation, amid rising political pressure on Abramovich to release the funds promptly, as reported by The Telegraph. Sources close to the discussions emphasise that the £1.5 billion debt will not diminish Ukraine’s share, despite the legal entanglements, and Abramovich continues to resist engagement until the Jersey matter resolves, per the same outlet. The standoff persists with funds locked due to allegations of data breaches and financial improprieties in some reports, though specifics remain tied to the ongoing probe, according to Tell.ng.
The Jersey court battle over Roman Abramovich’s frozen Chelsea sale proceeds, now reinforced by a heavyweight legal team, continues to hold up more than £5.3 billion potentially destined for Ukrainian war relief, with no resolution reported as authorities maintain their investigative stance.
