Abramovich's lawyers say he will fight any UK attempt to seize chelsea sale money

Abramovich Will Contest UK Attempt to Seize £2.5bn Chelsea Sale Proceeds

Legal Battle Over Chelsea Sale Proceeds

By Andrew MacAskill

Background: Sanctions and Sale of Chelsea FC

LONDON, March 9 (Reuters) - Lawyers for Russian businessman Roman Abramovich warned the British government on Monday that he would fight any attempt to seize the 2.5 billion pounds ($3.34 billion) from the sale of Chelsea soccer club, saying the money belongs to him.

The British government sanctioned Abramovich in a crackdown on Russian oligarchs following Moscow's full-scale invasion of Ukraine, triggering a rushed sale of the Premier League club in 2022. 

Frozen Funds and Ongoing Dispute

Almost four years later, the money remains frozen in a British bank account because of a dispute over how the money would be used. The British government warned Abramovich last year he must release the cash, or he could be taken to court.

Abramovich’s Legal Position

Ownership Claims and Accusations

Abramovich's lawyers at Kobre & Kim said the money from the sale remains "wholly owned" by their client and accused the government of "politically charged and highly publicised statements" on him.

Commitment to Charitable Use

They said Abramovich remains fully committed to using the money for charitable purposes and the government's restrictions on how it can be spent were to blame for the delay. 

"The UK government appears to be treating this proposed donation as a form of punitive measure against Mr Abramovich," the lawyers said in the letter, seen by Reuters.

Government Response and Conditions

Official Statements

In response to the letter, Britain's foreign minister Yvette Cooper, said: "It is time Roman Abramovich does the right thing but if he won't we will act".

Restrictions on Use of Funds

Britain wants the money spent only in Ukraine in line with a wider European push for Moscow to foot the bill for the vast destruction and deaths triggered by its invasion. 

Abramovich wants more flexibility over how the money would be spent, according to sources.

Next Steps and Potential Legal Action

Government Pressure and Legal Threats

British Prime Minister Keir Starmer said in December that "the clock is ticking" over finding a resolution.

Abramovich's lawyers said if the government opens formal confiscation proceedings it would be contested in court. 

Reiteration of Charitable Intentions

"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," the letter said. 

(Reporting by Andrew MacAskill; Editing by Andrew Cawthorne)