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☆ Proceeds of Chelsea Sale Have Yet to Reach Any Ukraine War Victims
▼ + stars: | 2023-06-20 | by ( Tariq Panja | ) www.nytimes.com time to read: +1 min

It was the biggest price paid for a soccer team, and for a while the biggest price paid for a sports team anywhere in the world. And the enormous proceeds were to create what would be one of the biggest humanitarian charities ever established. But 13 months after the forced sale of Chelsea F.C. after the British government sanctioned its Russian oligarch owner, Roman Abramovich, the charity has yet to be established and not a cent of the $3.1 billion (2.5 billion pounds) has gone toward its intended purpose: providing aid to victims of the war in Ukraine. The government’s permission is required before any transfer of the money from a frozen bank account to the charity, to ensure that none of the money is funneled to Russia, or to Abramovich.

Persons: Roman Abramovich, Mike Penrose, Abramovich Organizations: Chelsea F.C, Russian, United Nations Children’s Fund Locations: Ukraine, Russia

The logo of Russia’s state gas company Gazprom was emblazoned on the shirts of players at the soccer club Toennies chaired. In Germany, Toennies’ story is far from unique. At the centre of Gazprom’s influence campaign was Schalke 04, the soccer club Toennies chaired at the time and which Gazprom began sponsoring in 2006. Russian gas imports have dropped dramatically and Germany is supplying tanks and other weapons systems to Ukraine. In 2001 Toennies assumed another of his older brother’s roles – chairman of soccer club Schalke 04.

Persons: Clemens Toennies, Vladimir Putin, Toennies, Willy Brandt, ”, Putin, Sberbank, Angela Merkel, “, ” Merkel, Bernd, Clemens, Putin’s, Alexei Gromov, Gromov, Gerhard Schroeder, Schroeder Organizations: Gazprom, Toennies, Schalke, Gazprom’s, Reuters, Miele, Volkswagen, Deutsche Telekom, ” Schalke, Chelsea, Kremlin, Former Locations: WIEDENBRUECK, Germany, Russia, Russian, Moscow, Ukraine, Berlin, Russians, Crimea, Gazprom, Rheda, German, Europe, Nord Stream, Dresden

☆ Chelsea: How American billionaire owner blew over $600 million but ended up with nothing this season
▼ + stars: | 2023-04-20 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +8 min

CNN —“We’re all in – 100%,” US billionaire businessman Todd Boehly told Chelsea fans upon his arrival at the club in May 2022. Chelsea crashed out of the Champions League after losing to Real Madrid 4-0 on aggregate. Following the loss against Real Madrid, Chelsea captain Thiago Silva spoke candidly to reporters on the issues that come with this kind of spending. Besides Kai Havertz and Marc Cucurella, no Chelsea outfield player has started more than 20 games in the Premier League this season. The Blues are on course to have their lowest scoring season in Premier League history with their current total of 30 goals.

☆ Chelsea’s New American Owner Inherited One Old Habit: Firing Managers
▼ + stars: | 2023-04-03 | by ( Joshua Robinson | ) www.wsj.com time to read: 1 min

On the day Chelsea unveiled Graham Potter as its new head coach last September, the club went to great lengths to show it was heading in a new direction. The days of short-term spending and disposable managers were gone, along with Chelsea’s former owner, the Russian oligarch Roman Abramovich . Under its new ownership group, led by the American investor and Los Angeles Dodgers co-owner Todd Boehly, the club was going to build something for the future with what it called “one of the most exciting coaches in the game.” At 47, Potter was young, proven in the Premier League, and above all, the club said, “an innovator.”

☆ The 8-year-old daughter of a Vladimir Putin ally is listed as the owner of a multimillion-dollar apartment in one of London's most exclusive areas
▼ + stars: | 2023-03-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Vladimir Gruzdev is a Vladimir Putin ally whose net worth was estimated to be $900 million in 2021. His 8-year-old daughter owns a London apartment that could be worth $5 million to $10 million today. Vladimir Gruzdev made his name as a grocery-store tycoon before starting a career in politics, which won him special recognition by Putin in 2010. The apartment was purchased for £2.3 million in 2000 through a company based in the Cayman Islands, where the tax rate is 0%. One property-valuation website suggests it could be worth over $10 million, but its actual value on the open market is unclear.

☆ Chelsea coach Potter calls for patience after fresh defeat
▼ + stars: | 2023-02-26 | by ( William Schomberg | ) www.reuters.com time to read: +2 min

Speaking after a 2-0 defeat at the home of arch-rivals Tottenham Hotspur - the 13th time in 15 games in all competitions that Chelsea have failed to win - Potter said he was frustrated and disappointed by the latest setback. Potter also highlighted Liverpool boss Juergen Klopp's inability to halt the slide in form of his side after winning the Champions League and the Premier League in recent years. Potter also faced questions from reporters about his side's inability to score, having found the net only once in their last five league games. The loss of several players through injury and easing them back into action, plus integrating a host of new signings, represented challenges, Potter added. "So as a team, we're just not quite there in terms of how we want it to look and how we want to really function in a good way.

☆ Russian oligarchs' superyachts have avoided the US west coast and the Mediterranean since Russia invaded Ukraine, heat maps show
▼ + stars: | 2023-02-25 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

Russian oligarchs' superyachts were detected in different regions after the Ukraine war began. Heat maps show oligarchs' yachts have avoided America's west coast and the Mediterranean. The MediterraneanSpire MaritimeSpire's data found that the Mediterranean was a hotspot for Russian oligarchs' superyachts before Russia invaded Ukraine. Turkey still offers a safe haven for Russian oligarchs' assets because it's yet to sanction Russia for its aggression against Ukraine. Arabian SeaSpire MaritimeSpire's data also honed in on the movements of Russian oligarchs' yachts around the Arabian Sea.

☆ A Russian general was poisoned by a letter laced with an unknown toxin, close Putin ally says
▼ + stars: | 2023-02-13 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Chechen leader Ramzan Kadyrov said his top general in Ukraine has been poisoned. Apti Alaudinov was poisoned after handling a letter sent to him earlier this month, Kadyrov said. Kadyrov, who is also a close ally of Russian President Vladimir Putin, said his top general in Ukraine has been poisoned after handling a letter that was sent to him on February 8. Apti Alaudinov, who commands the Akhmat special forces, picked up a letter that was "saturated with a poisonous substance," Kadyrov said. In March last year, Russian oligarch Roman Abramovich briefly went blind after an apparent poisoning during peace meetings with Ukrainian negotiators.

☆ These heat maps show the dramatic change in the movements of oligarchs' superyachts since Russia invaded Ukraine
▼ + stars: | 2023-02-08 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

☆ Chelsea shrugs off cost-of-living crisis
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 1 (Reuters Breakingviews) - The cost-of-living crisis has yet to reach soccer players. Chelsea Football Club, owned by a consortium led by American businessman Todd Boehly, spent a record 330 million euros in the January player transfer window, according to Transfermarkt. It brings total spending on footballers since the Los Angeles Dodgers owner acquired the club last May to over 600 million euros. It also brings total spending by Premier League clubs this season to a record 2.8 billion pounds, beating the 1.86 billion pounds spent in the 2017/18 season. The Boehly-led consortium bought Chelsea from Roman Abramovich for 2.5 billion pounds, equivalent to a toppy 5.7 times trailing sales.

Downing Street referred requests for comment to the business ministry, which oversees Companies House, Britain’s public registry of companies. And, in most cases, if foreign companies purchased the property before 1999 or hold UK property in a trust they don’t need to publicly disclose the beneficial owners. The Cyprus-based company, A. Corp Trustee Limited, wasn’t listed on Britain’s new property register as of Tuesday morning. A listing on the UK’s new property register for Hanley Limited identifies the beneficial owner as a Swiss company called Pomerol Capital Sa. Ravellot also wasn’t on the new property register.

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/roman-abramovich-ukraine-russia-peace-sanctions-11674572583

☆ Potter says managing Chelsea is the hardest job in football
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

I think it is probably the hardest job in football because of that leadership change and the expectations because of, rightly, where people see Chelsea," Potter said before Chelsea's trip to Fulham on Thursday. "The reality of where the club is in terms of establishing itself as a well-run football club that functions well in a really competitive environment, maybe we're not there yet. "I'm not after pity, I'm really grateful and privileged to be here," Potter said. "This club was run a certain way for 20 years and run really well. ($1=0.82 pounds)Reporting by Hritika Sharma in Bengaluru; Editing by Neil FullickOur Standards: The Thomson Reuters Trust Principles.

☆ Roman Abramovich transferred superyachts and private jets worth $4 billion to his children just before the Ukraine invasion, report says
▼ + stars: | 2023-01-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Roman Abramovich transferred assets to his children before the Ukraine invasion, per The Guardian. Assets worth more than $4 billion were transferred to his seven children only three weeks before the start of the war, the report said. His children's beneficial interest in the trust's assets – including the Eclipse superyacht worth $700 million and shares in Russian companies – rose from 51% to 100%, per the report. Companies controlled by Abramovich's trusts had assets worth $2.5 billion at the end of 2021, per the reports. Abramovich seemingly reorganized other assets just weeks before the invasion of Ukraine.

☆ How Russian billionaire Roman Abramovich fell from grace after Putin's invasion of Ukraine
▼ + stars: | 2022-12-24 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +1 min

A few days after the start of the war, Abramovich said he was selling Chelsea FC, ending 19 years of ownership. Roman Abramovich celebrates Chelsea FC winning the Premier League in London, England, on May 21, 2017. Catherine Ivill/AMA/Getty ImagesAbramovich announced he was selling the Premier League soccer team on March 2. "Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine," he added.

☆ Soccer-In year of drama, World Cup shines spotlight on growth in the sport
▼ + stars: | 2022-12-20 | by ( Manasi Pathak | ) www.reuters.com time to read: +5 min

Dec 20 (Reuters) - Lionel Messi's World Cup fairytale lit up the year in soccer as heroics and heartbreak at the finals captivated fans and highlighted the growth of the world's most popular sport despite the criticism of host country Qatar's human rights record. With matches played in air-conditioned stadiums to cope with the heat of the desert state and no beer on tap in stadiums, spectators experienced a World Cup like never before. Playing in a fifth World Cup for Argentina, the incomparable Messi once again left everyone in awe of his magical powers on the field as he smashed records and delivered on the hopes of a nation, bringing the World Cup home after 36 years. The South American giants were handed a shock defeat by Saudi Arabia in their first group game, which statisticians Gracenote credited as the biggest upset in World Cup history. With every continent represented in the World Cup last 16, the most diverse knockout stage in the tournament's history was evidence of the sport's expanding reach.

☆ The cofounder of venture capital firm Target Global left after his Russian oligarch father was sanctioned
▼ + stars: | 2022-12-12 | by ( Shona Ghosh | ) www.businessinsider.com time to read: +3 min

Alexander Frolov, the son of a sanctioned Russian oligarch, has left his tech investment firm. The UK sanctioned Alexander Frolov Senior on November 2. Alexander Frolov, the son of a sanctioned Russian oligarch, has left the venture capital firm he cofounded and ran, Target Global, amid ongoing concerns about Russian money flowing into European tech startups. The move was first reported by German publication FinanceFwd and was confirmed to Insider Monday by a spokesman for Target Global. The UK sanctioned Russian oligarch Alexander Frolov, formerly CEO of steel-mining firm Evraz, in November 2022.

☆ Take Five: Everything to play for
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +5 min

Markets are hopeful the Federal Reserve will soon slow the pace of its aggressive rate hikes. The U.S. economy likely created 200,000 new jobs, a Reuters poll of economists forecasts found, in what would be the smallest gain since December 2020. Manufacturing indicators, mainly PMIs, due next week might attest to the weakness already seen across the economy. Inflation in the euro zone was 10.6% in October, more than five times the European Central Bank's 2% target. Indeed, the Fed may be getting ready to slow the pace of its rate hikes, but the ECB is not there yet.

Deals for European football clubs this year, beginning with the sanctions-driven sale of Chelsea Football Club by Russian oligarch Roman Abramovich in May, have fetched top dollar. Those complaints were aired again this month by superstar player Cristiano Ronaldo, who parted ways with Manchester United for the second time. Spokespeople for the six members of the Glazer family that are major Manchester United shareholders could not be reached for comment. More deals are in the works, with Manchester United arch rival Liverpool Football Club also exploring a sale. In August, Elon Musk tweeted: "I'm buying Manchester United ur welcome" only to then clarify he meant it as a joke.

☆ Russian Oligarch Roman Abramovich Wins Apology From Police in Channel Islands
▼ + stars: | 2022-11-10 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

Roman Abramovich holds a large chunk of his wealth via companies registered on the English Channel island of Jersey. LONDON—A court on the English Channel island of Jersey ordered the local police force to apologize to Roman Abramovich and pay damages to the Russian oligarch after it concluded the police unlawfully gained warrants to search properties linked to him earlier this year. In a rare legal victory for a recently sanctioned Russian billionaire, the Royal Court of Jersey said Wednesday in a filing that the police had agreed to issue “a private apology for the unlawful warrants” to Mr. Abramovich and pay unspecified damages.

☆ Exclusive: Jersey police admit unlawfully searching premises linked to Roman Abramovich
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 10 (Reuters) - Police on Jersey have admitted they conducted unlawful searches at premises allegedly linked to Russian billionaire Roman Abramovich and have agreed to pay damages and apologise, according to a legal document seen by Reuters. Jersey police were granted search warrants and searched premises allegedly linked to Abramovich in April 2022, seizing documents and devices, according to a legal document signed in a Jersey court. In a consent order dated Nov. 9 and confirmed by two sources, Jersey police acknowledged that "the search warrants were obtained unlawfully" and agreed "that the search warrants should be quashed," according to a copy of the document seen by Reuters. Jersey police did not immediately respond to a written request for comment. "Mr Abramovich has always acted in accordance with the law, we are pleased that the Jersey Police have conceded in relation to these unlawful and unfounded searches," Abramovich's spokeswoman said.

The frozen Russian assets were 6 billion pounds more than the amount reported across all other British sanctions regimes. It does not include physical assets such as real estate or assets held in Crown Dependencies such as Guernsey and Jersey. The European Union, a 27-nation bloc with an economy five times larger, said in July it had frozen 13.8 billion euros ($13.83 billion) of Russian assets over the war in Ukraine. While Russian assets are currently only frozen, there are discussions on what options are available to seize them. In the first test of Britain's approach to enforcing sanctions, Russian billionaire Petr Aven is challenging in a London court allegations that he evaded sanctions.

☆ Russia's Rusal files London lawsuit against Potanin over Nornickel pact
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +4 min

The dispute centres on an agreement brokered by Moscow in 2012 between Nornickel's two largest shareholders, Potanin and Rusal, which protected its dividend payouts. Disputes over dividends have been the main reason for on-and-off rows between shareholders at Nornickel and Rusal over the past 14 years. SEEKING COMPENSATIONThe London lawsuit comes as Moscow faces Western sanctions over what it calls a "special military operation" in Ukraine. While Nornickel has not been directly targeted by Western sanctions, Potanin was sanctioned by Britain in June. Potanin has been chief executive of Nornickel for the duration of the agreement and Rusal said in its statement that it now required a "professional independent executive" as CEO.

☆ 20 crew members supply Roman Abramovich's $600 million superyacht with provisions, electricity, and water every day as the Ukraine war wages on, report says
▼ + stars: | 2022-10-24 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

A crew supplies Russian billionaire Roman Abramovich's yacht on a daily basis, a worker told the NYT. The yacht is docked in Turkey, a country that hasn't yet imposed sanctions on Russia over the war. The worker said that the crew came on a daily basis to supply the yacht with electricity, water, and provisions, as well as remove the waste onboard. His Solaris yacht has avoided sailing into EU territory since the Ukraine war broke out. Yalıkavak Marina told The Times in a statement that Solaris was kept outside of the marina's boundaries because of "international concerns."

☆ Truphone to pay $600,000 U.S. fine, ensure Russian ownership divested
▼ + stars: | 2022-10-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 20 (Reuters) - The parent company of a small Montana wireless carrier will pay a $600,000 fine and ensure that any ownership interests by Russian investors is divested, a U.S. agency said on Thursday. The Federal Communications Commission (FCC) in April said Truphone, the owner of Montana-based iSmart Mobile, had been indirectly controlled by Russian oligarchs since at least 2011. Under the settlement, London-based Truphone will ensure that any stake held by Alexander Abramov, Alexander Frolov or Roman Abramovich will be divested, the FCC said. The FCC had proposed fining Truphone $660,000 in April for failing to disclose accurate ownership stakes held by foreign entities and transferring control of licenses without government approval. Truphone said it will ensure no individuals or entities designated by the Treasury Department's sanction list have any ownership or investment interests.

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