Lammy: UK Will “Double Down” to Release Chelsea FC Funds for Ukraine Assistance

UK Foreign Secretary David Lammy vowed on March 9 to take “action,” including potential legal steps, to unlock £2.3 billion from the sale of Chelsea Football Club by Russian billionaire Roman Abramovich.

In the report by the Financial Times, the funds, frozen by the UK government, have been held in a dedicated trust for over two years as discussions on their allocation continue.

“I’m frustrated that it hasn’t happened, is the truth—and that money needs to be distributed, it needs to be used,” Lammy said, emphasizing a shift toward an “action-oriented approach” to break the deadlock.

He stated that while litigation is not his first choice due to the time it would take, it remains an option alongside negotiations with the foundation set to manage the funds.

The UK government insists the money must be spent within Ukraine, while the proposed foundation—led by former Unicef UK chief executive Mike Penrose—has advocated for flexibility in using the funds to support refugees displaced by the war. “I’m determined to see that money get out the door and to do all I can to bring that about,” Lammy said, acknowledging the legal complexities surrounding the issue.

Abramovich, who was sanctioned by the UK in March 2022, previously stated in a message on Chelsea’s website that the foundation would be “for the benefit of all victims of the war in Ukraine,” providing “critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.”

Lammy’s push comes as Ukraine faces mounting pressure after the U.S. paused all military aid. He underscored the urgency of the moment, calling for increased efforts to assist Kyiv.

In addition to his stance on the Chelsea funds, Lammy also backed the creation of a multilateral defense bank to help the UK and Europe finance defense expansion.

The UK Foreign Office stated that officials are “working hard to ensure the proceeds from the sale of Chelsea FC reach humanitarian causes in Ukraine as quickly as possible.”

The funds remain frozen in a UK bank account while an independent foundation is established to oversee their distribution. “UK officials continue to hold discussions with Mr. Abramovich’s representatives, experts, and international partners, and we will double down on our efforts to reach a resolution,” the Foreign Office said.

A representative for Abramovich did not immediately respond to requests for comment.

Earlier, on February 10, DB Ventures, David Beckham’s company, registered the David Beckham trademark with Rospatent, Russia’s federal intellectual property office.