Roman Abramovich’s secret lavish life as Keir Starmer issues ultimatum over £2.5bn Chelsea funds

Prime Minister Keir Starmer has told ex-Chelsea owner Roman Abramovich to release frozen proceeds from the club’s sale to help Ukraine, while he lives a secretive life in Turkey

Prime Minister Keir Starmer has delivered an ultimatum to former Chelsea owner Roman Abramovich, demanding that he surrender funds from the sale of his Stamford Bridge stake. The UK could encounter resistance from the Russian billionaire, though, despite him reportedly being confined to Turkey owing to EU sanctions.

Abramovich, 59, owned the Blues for almost two decades before being forced to sell up following Russia’s renewed assault on Ukraine. American tycoon Todd Boehly emerged victorious from the subsequent auction to acquire the Premier League heavyweights as his predecessor withdrew to Istanbul.

Given his links to the Kremlin, Abramovich’s British assets were frozen, and he was prevented from touching the £2.5billion he pocketed from the sale. Those monies remain legally his despite being inaccessible, but Labour chief Starmer has now declared they must be handed over to the UK government to support Ukraine’s war efforts.

The Telegraph revealed in early 2025 that Abramovich was residing in a “gilded cage” in Turkey, where he continues to live an extravagant lifestyle. The Russian’s wealth suffered during the conflict’s escalation in 2022, though he and his relatives have regained assets and are now thought to be valued at £6.9bn, according to Forbes.

That represents a substantial safety net despite EU and UK restrictions curtailing his movement beyond Turkey. Nevertheless, Abramovich is thought to have preserved much of the lavish lifestyle that once enabled him to globe-trot freely.

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Starmer issued an ultimatum to the Russian oil magnate on Wednesday, demanding he honour his pledge to release funds from Chelsea’s sale. Abramovich has been given 90 days to comply, but former barrister Starmer has already made clear his willingness to pursue legal action if needed.

“My message to Abramovich is this – the clock is ticking,” said the PM. “Honour the commitment that you made and pay up now. If you don’t, we’re prepared to go to court so every penny reaches those whose lives have been torn apart by Putin’s illegal war.”

Severing his Premier League connections hasn’t prevented Abramovich from maintaining his luxurious standards. Indeed, he’s believed to frequent some of Istanbul’s most exclusive restaurants along the Bosphorus Strait, with chef and restaurant owner Omer Ataysin becoming a familiar host.

“I love Abramovich so much,” Ataysin told The Telegraph earlier this year before withdrawing his remarks after pressure from Abramovich’s lawyers. “He loves eating lamb and kebab. He always wants to order cold appetisers and my special salad for his home. He especially loves lamb tenderloin and spicy kebab.”

Sources suggest Abramovich may be planning to make Istanbul a permanent base, with allegations emerging that he has carried out unauthorised building work on a property he owns on the Asian side of the Bosphorus. Turkey’s authorities were allegedly informed about the use of “unauthorised wooden and prefabricated structures” on the mansion, previously belonging to convicted felon Adnan Oktar.

The heat is intensifying on Abramovich, who was connected with a potential acquisition of Super Lig powerhouse Galatasaray, to comply following Starmer’s appeal and unlock the Chelsea takeover money. Chancellor Rachel Reeves has also stepped in to try and persuade the Russian oligarch as time runs out.

“It’s unacceptable that more than £2.5bn of money owed to the Ukrainian people can be allowed to remain frozen in a UK bank account,” said the Chancellor. “It’s time for Roman Abramovich to pay up. If he doesn’t act then we are prepared to do what is necessary to make sure that money gets to the Ukrainian people.”

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