Funds from the sale of a Premier League football club have accumulated significant interest while held in a UK bank account, with the total rising from £2.3 billion to nearly £2.5 billion. The money remains tied up amid a legal dispute over its intended use and an ongoing criminal investigation. Analysts have noted the company managing the frozen assets could be considered the most profitable football-related business globally. The situation highlights the financial and legal complexities surrounding the proceeds of the 2022 sale.
Proceeds are in a UK account amid a dispute about how the money should be used and a separate criminal investigationFunds from Roman Abramovich’s sale of Chelsea FC have earned at least £175m in interest while locked in a UK bank account, new accounts show, leading one analyst to describe the company housing the frozen cash as “the most profitable football business in the world”.Accounts for Fordstam, the company through which the billionaire Russian oligarch owned Chelsea, show that the proceeds of the sale completed in May 2022 have risen from £2.3bn to nearly £2.5bn. Continue reading...
