According to a report by The Times, the long-standing saga surrounding the proceeds of Chelsea’s sale has taken a dramatic turn. While the club was sold to Blueco 22 Ltd for a total price of £2.5 billion, accounts for Fordstam Ltd reveal that Roman Abramovich is legally obliged to pass on only approximately £987 million to a charitable foundation. This total sale figure consisted of a £2.35bn payment received, a £150m holdback amount, and £41.6m in transaction fees.
This net gain figure comes as a significant blow to those expecting the full sum to be utilised for humanitarian aid following the Russian invasion of Ukraine. The company’s financial statements note that Abramovich intends to donate the net proceeds from the sale, after allowing for other balance sheet items. Furthermore, £1.24m was spent during the financial year simply setting up a structure to handle this donation, alongside legal and audit fees.