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Tuesday, July 16, 2024

Court Freezes $7B Linked to Chelsea FC Owner Abramovich

Chelsea-FC
Chelsea FC

With the deadline for final Chelsea FC bids just one day away, Bloomberg reported that more than $7 billion in assets linked to current owner Roman Abramovich have been frozen by a Jersey court.

Abramovich was recently sanctioned by the U.K. government and European Union for his ties to Vladimir Putin following Russia’s invasion of Ukraine. 

The amount frozen by the local Royal Court totals roughly half of Abramovich’s estimated wealth of $13.9 billion.

According to U.K. filings from last year, Abramovich’s Chelsea holding company has an outstanding $1.4 billion loan from Jersey’s Camberley International Investments Ltd.

He isn’t the only Russian billionaire to be sanctioned offshore.

Cayman Islands authorities said they froze around $7.3 billion in assets tied to Russian individuals and companies sanctioned by the U.K.

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