Chelsea owner Roman Abramovich could donate some funds from the sale of the club to Russian people

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Roman Abramovich’s promise to donate ‘net proceeds’ from sale of Chelsea will see funds go to all victims of war in Ukraine ‘regardless of origin’ amid confusion over who would benefit and questions from the UK’s security minister over what the term meant

  • Owner Roman Abramovich has announced that he intends to sell Chelsea 
  • He has claimed he will donate funds from the sale to victims of war in Ukraine
  • However, it was unclear whether this would just be for Ukrainian victims
  • It has now emerged that the donation will go to all victims of the war 

Roman Abramovich will not be donating the proceeds of his sale of Chelsea exclusively to Ukrainian victims of the ongoing war in Ukraine, according to reports.

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The 55-year-old announced his intention to sell Chelsea on Wednesday after owning the club for 19 years.

In a statement announcing his decision, Abramovich revealed: ‘I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine.

‘This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.’

Abramovich’s pledge was met with scepticism by UK security minister Damian Hinds, who appeared on Good Morning Britain on Thursday morning.

When asked by the ITV show if he understood exactly what Abramovich meant by ‘net proceeds’, Hinds replied: ‘No, because you can define net proceeds in different ways, as any corporate financier would tell you.’

It now appears to be a little clearer as to who could benefit from the money as a key spokesperson has claimed that funds will be given to all victims of the war, regardless of their origin, according to The Guardian.

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This has opened up the possibility of money going to Russian citizens and their families. 

Some of Roman Abramovich’s donation could go to Russian people and their families

UK security minister Damian Hinds had earlier questioned what was meant by 'net proceeds'

UK security minister Damian Hinds had earlier questioned what was meant by ‘net proceeds’

However, uncertainty remains over the sale of Chelsea, and any subsequent donation that could be made, as it is unclear as to how much Abramovich could realistically sell the club for. 

It is understood that Abramovich is aiming to bring in as much as £4billion from the transaction.

However, financial experts have suggested that he may struggle to get more than £2bn for the west London club.

Abramovich did write in his statement on Chelsea’s website: ‘The sale of the Club will not be fast-tracked but will follow due process.’

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The situation appears to be moving swiftly, though, as Abramovich could potentially face sanctions shortly, and interested parties have been invited to bid by March 15. 

It has been revealed that all victims of the war in Ukraine will receive funds from the donation

It has been revealed that all victims of the war in Ukraine will receive funds from the donation


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