Chelsea Sale Proceeds Remain Frozen in UK Bank After Three Years

The £2.5 billion generated from the sale of Chelsea Football Club remains frozen in a UK bank account nearly three years after former owner Roman Abramovich pledged the funds for humanitarian aid following Russia's invasion of Ukraine. The UK government, which sanctioned Abramovich due to his ties to President Putin, confirmed that the proceeds are still untouched as officials work to establish an independent foundation to manage the distribution of the money. Critics, including legal adviser Lyra Nightingale, argue that there has been a lack of transparency and urgency in releasing the funds, which were committed for the benefit of Ukrainian war victims. Meanwhile, the Charity Commission has yet to receive any applications for the foundation intended to oversee the funds, leading to concerns about the government's commitment to fulfilling Abramovich's pledge. Discussions around the usage of the funds have been complicated by differing views on aid distribution, with Abramovich suggesting that the aid should also extend to Russian victims of the conflict. The ongoing situation highlights the challenges in ensuring that humanitarian commitments are met amidst geopolitical tensions.