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Sale of Chelsea FC
26 May 2022
Type
Written Ministerial Statement
Department
Department for Digital, Culture, Media and Sport
At a Glance
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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Assessment & feedback
Summary accuracy