Boris Johnson finally reveals what to do with £3billion Roman Abramovich funds
Roman Abramovich, the owner of Chelsea, revealed his intention to sell the club in March, and the process has been underway for the past two months.
However, because Abramovich has been sanctioned by the British government, he will be unable to receive the proceeds of the transaction.
Before the sanctions, Roman Abramovich stated that a portion of the revenues from the sale will be donated to Ukrainian conflict victims.
Abramovich’s assets have been frozen indefinitely due to sanctions imposed by the UK.
The British government is purportedly trying to avoid the proceeds of roughly £3 billion that have been frozen in a bank account because Blues owner Roman Abramovich has been sanctioned because of his ties to Russian President Vladimir Putin.
According to the New York Times, UK Prime Minister Boris Johnson wants the money to go to a foundation that would help Ukraine recover from the Russian invasion, but there are reservations about the legalities of establishing such an effort so rapidly.
Boris Johnson wants the money to go to a charity that will assist Ukraine in its recovery from the Russian invasion.
Meanwhile, former Arsenal vice-chairman David Dein has written to Nadine Dorries, the Secretary of State for Digital, Culture, Media and Sport (DCMS), requesting that £750 million from the sale be used to improve 20,000 playing surfaces, build over 1,000 artificial pitches, and renovate changing rooms.