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Abramovich

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world27 days ago

UK demands Abramovich transfer Chelsea sale proceeds to Ukraine

The UK government has given Roman Abramovich a final deadline to donate £2.5 billion from the sale of Chelsea to Ukraine or face legal action, amid ongoing disputes over the use of the frozen funds. The government seeks to ensure the money benefits Ukrainian humanitarian causes, while Abramovich argues it should aid all war victims, including in Russia. The UK has not specified the legal basis for seizing the funds but is considering issuing a license to transfer the money to a charitable foundation, with potential for broader use of future gains. The dispute highlights the complexities of freezing and seizing Russian assets in the context of the Ukraine conflict.

via DW|
#abramovich#chelsea#frozen-assets
world28 days ago

UK warns Abramovich to transfer Chelsea sale proceeds to Ukraine or face legal action

The UK government has given Roman Abramovich a final 90-day deadline to transfer 2.5 billion pounds from the sale of Chelsea to Ukraine's victims or face legal action, as part of sanctions following Russia's invasion of Ukraine. The funds are currently frozen, and the UK aims to ensure they are used solely for humanitarian aid in Ukraine, with the government prepared to enforce the law if necessary.

via Al Jazeera|
#abramovich#chelsea#sanctions
world28 days ago

UK urges Abramovich to transfer Chelsea sale proceeds to Ukraine victims

The UK has given Roman Abramovich a final 90-day deadline to transfer 2.5 billion pounds from Chelsea's sale to Ukraine's victims or face legal action, as part of sanctions related to Russia's invasion of Ukraine. The government plans to issue a license to transfer the funds to a charitable foundation supporting Ukraine, with European leaders also considering using frozen Russian assets for Ukraine's needs.

via NBC News|
#abramovich#chelsea#funds
sports2 years ago

The Impact of Corporate Ownership on European Football.

The financial gap between the wealthiest soccer clubs and their rivals is wider than ever before, depriving many national leagues of any element of surprise. The corruption scandal surrounding FIFA has shown that the body making decisions about hosting the World Cup is flawed. The Premier League has run itself better than any other league in the world, but the purchase of Chelsea by Roman Abramovich was hugely important in shaping the economic development of English football. It decoupled success on the pitch from wealth, allowing clubs to have money just because they had a megarich owner.

via Jacobin magazine|
#abramovich#corruption#fifa
politics2 years ago

Russian billionaire Abramovich funded Putin's former teacher's apartment purchase.

Financial records reveal that the money for an apartment purchased for Russian President Vladimir Putin's former teacher, Mina Yuditskaya-Berliner, did not come from Putin, but from an offshore account secretly controlled by Russian billionaire Roman Abramovich. The transaction highlights the system of patronage and hidden wealth in Russia, where oligarchs like Abramovich know what is expected of them and play along. Abramovich has long denied any financial linkage to Putin, but the documents obtained by The Washington Post and the International Consortium of Investigative Journalists suggest otherwise.

via The Washington Post|
#abramovich#israel#offshore-accounts