Britain delays launch of £2.3bn ($2.9bn) relief fund for Ukraine set up after Russian billionaire Roman Abramovich sold the football club from Chelsea. On this subject informed Mike Penrose, interim CEO of the Bloomberg fund.
According to him, the organization is ready to go, but “there are complexities and delays associated with political approval both between the UK and the EU, and within the UK”.
The foundation plans to focus on humanitarian projects that support medical, educational and housing programs for Ukrainians, Penrose said.
The fund team prepared all the necessary documents and compiled a list of seven candidates for board members. Penrose did not name them, noting only that these people have a long history of charitable work. The fund has also decided on a list of investment managers to control the finances. Jan Egeland, secretary general of the Norwegian Refugee Council, was named chair.
“We won’t make any decisions until we know the money is coming. We don’t want to end up with charity but no money,” Penrose said.
According to Bloomberg, the proceeds from the sale of Chelsea remain blocked in a UK bank account.
Sell Chelsea
Roman Abramovich has owned London’s Chelsea Football Club since 2003. In February 2022, two days after the start of the military operation in Ukraine, the billionaire handed over management of the club to the trustees of the charitable foundation.
Early March, Abramovich announcement that Chelsea will sell, and the proceeds will go to a fund to help all victims of military operations in Ukraine. Businessman representative clarified that we are talking about victims on all sides.
In March 2022, the UK imposed sanctions on Abramovich, Chelsea was restricted as an asset for a businessman. Shortly after, the English Premier League (EPL) removed Abramovich as manager of the club.
In May, the billionaire sold Chelsea to a consortium led by American businessman and co-owner of the Los Angeles Dodgers baseball club, Todd Boely.
In January 2023 The Telegraph informed that the British government is about to authorize the transfer of the money from the sale of Chelsea to an aid fund for the victims of the Ukrainian conflict. Abramovich’s Press Office underline that the billionaire himself does not have access to the funds from the sale of the club and does not participate in their distribution.
