Jersey Update: £2.35B from Chelsea Sale Frozen in Abramovich Firm's Jersey Account

Recent company accounts show that the £2.35 billion proceeds from the Chelsea FC sale, plus £150 million in accrued interest, have been frozen in a bank account held by Fordstam Ltd, a UK company owned by Roman Abramovich, since 2022.

• Fordstam Ltd - United Kingdom private limited company, incorporated on 2 June 2003. Its current registered office address is:
• Apartment 35.1, Tower West 1, Waterfront Drive, Chelsea Waterfront, London SW10 0AA, England
• https://find-and-update.company-information.service.gov.uk/company/04784127

What the Accounts Say

• Outstanding Loan to Jersey Firm Latest filings show approximately £1.429 billion of the frozen funds is owed to Camberley International Investments Limited, a Jersey-registered company also controlled by Abramovich. [footballtr…nsfers.com], [techstory.in]
• Camberley International Investments Limited  
• Registration Number: 132799 - Type: Registered Company Private - Status: Active (Continued In) - Registered on: 17/11/2020
• Registered Office: 50 La Colomberie, St. Helier, JE2 4QB, Jersey
• https://www.jerseyfsc.org/registry/registry-entities/entity/317107

• Charitable Intent Conditional on Debt Settlement The accounts confirm Abramovich’s intention to gift the net proceeds, after clearing these internal debts, to a charitable foundation for Ukraine. However, “allowing for other balance sheet items” must precede any donation. [footballtr…nsfers.com], [techstory.in]

JERSEY MONEY LAUNDERING AND SANCTIONS OFFENCES INVESTIGATION

• Jersey authorities are also pursuing a criminal investigation into Camberley International Investments Ltd over allegations of facilitating money laundering from historical asset transfers and potential economic sanctions violations.
• Investigative steps taken include seeking financial documentation from Swiss banks and coordinating with international partners.
• Jersey’s Attorney General has formally sought criminal assistance from Switzerland, pursuing banking records related to Roman Abramovich and linked entities—this includes Camberley—as part of a broader probe into money laundering and breaches of economic sanctions. [comsuregroup.com], [wallstreet…blower.org]

• It has been reported that Swiss judges confirmed that Jersey’s investigation targets money laundering and sanctions violations tied to a $13 billion company sale, alleging proceeds were steered through Jersey-based companies and trusts—including Camberley. [comsuregroup.com], [wallstreet…blower.org]
• The Moscow Times reports that Jersey launched a sweeping probe into Abramovich’s wealth accumulation (notably the sale of Sibneft in the 1990s) and subsequent sanction breaches post-2022. This investigation explicitly includes transfers through trusts and offshore companies in Jersey. [themoscowtimes.com], [wallstreet…blower.org]

Why Funds Remain Frozen

1. UK Sanctions & OFSI Oversight As the funds are held under UK sanctions in Fordstam’s account, no repayment or charitable distribution is possible without a license from the Office of Financial Sanctions Implementation (OFSI). [techstory.in]
2. Legal and Financial Impasse Until the internal loan from Camberley is formally settled or written off and regulatory approval is granted, the funds remain inactive. [techstory.in], [footballtr…nsfers.com]
3. Complex Jersey Involvement The UK government insists on redirecting the funds for humanitarian assistance. Abramovich’s representatives, however, note the legal and procedural hurdles stemming from his Jersey interests. [footballtr…nsfers.com], [techstory.in]

Wider Implications

• Ukraine Aid at Risk Earmarked initially to support war victims, only approximately £923–£987 million may be available, depending on debt resolution. The rest remains tied up in internal claims. [techstory.in], [footballtr…nsfers.com]
• Political and Legal Pressure Mounting The UK government has warned of legal action if the funds aren't released. Meanwhile, Abramovich has engaged top lawyers to challenge Jersey’s ongoing probes into his assets. [tell.ng], [newsukraine.rbc.ua]
• Offshore Structures Under Scrutiny This situation highlights the complexities and vulnerabilities of offshore financial structures. It raises crucial questions about the transparency and enforceability of internal debts that can obstruct charitable disbursements.

Bottom Line

The promised proceeds from the Chelsea sale remain in limbo. An internal loan of over £1.4 billion prevents a direct transfer to the war relief foundation, and sanctions regulations block any movement without governmental approval. As legal and political battles unfold in both the UK and Jersey, the ultimate charitable pay-out remains uncertain.

All Source Links

• Abramovich controversy: Ukraine war victims may receive less than half of £2.35bn sale   FootballTransfers.com [footballtr…nsfers.com]
• Abramovich’s Chelsea sale funds still frozen…   TechStory [techstory.in]
• Billions pledged to Ukraine war victims tied up in Jersey bank account   Bailiwick Express [bailiwickexpress.com]
• Abramovich’s £1.4B Chelsea sale standoff: funds frozen until Jersey probe ends   TELL Magazine [tell.ng]
• Roman Abramovich hires top lawyers to fight for proceeds from Chelsea sale   RBC-Ukraine [newsukraine.rbc.ua]
• [themoscowtimes.com], [wallstreet…blower.org]