Commons Sense

House of Commons · Written Ministerial Statement

Sale of Chelsea FC

26 May 2022 · Department for Digital, Culture, Media and Sport

Proposed by Nadine Dorries Con Mid Bedfordshire

BrexitUkraine

Summarised by AI from the official record, so it can contain mistakes.

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At a glance

Key points

  • Written Ministerial Statement on the sale of Chelsea FC PLC
  • OFSI has issued a licence to facilitate the transfer of ownership away from Roman Abramovich
  • Net proceeds from the sale will be frozen and directed to charity for Ukraine war victims under government supervision

Issue summary

The statement addresses the licensing approval for the sale of Chelsea FC PLC to ensure it can be transferred away from sanctioned owner Roman Abramovich.

Action requested

OFSI has issued a licence to enable the transfer of ownership, with expected completion within days. The net proceeds will be frozen and committed to charity for Ukraine war victims under government oversight.

Key facts

  • OFSI issued a licence on 24 May to allow Chelsea FC PLC sale.
  • Roman Abramovich is a Designated Person under Russia sanctions since 10 March.
  • Asset freeze prohibits dealings with assets owned or controlled by Mr. Abramovich.
  • The club was at risk of going into administration without government action.
  • A Deed of Undertaking commits proceeds to charity for Ukraine war victims.
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