Charity campaign participants criticize Chelsea FC’s lack of transparency for donations

Campaign participants are increasingly concerned about the implications for Roman Abramovich’s process and demand “maximum transparency” for the UK’s £ 2.5 billion deal allocated to charity from the sale of the Chelsea Football Club. doing.

The licensed Russian oligarch is awaiting approval from the British government to proceed with the sale of the West London Club to a group led by US financier Todd Bailey.

Chelsea said in a statement last week that £ 2.5 billion would be deposited in a “frozen UK bank account with the intention of donating 100% for charitable purposes” and that the proceeds would be remitted without the approval of the UK government. He added that he couldn’t.

Critics have hit the lack of transparency in the process, although the government has emphasized that Abramovich should not benefit from funding.

According to a Chelsea statement, Abramovich’s team “discussed with government representatives presenting the structure and initial plans” and appointed “lead independent experts.”

He also identified “senior representatives of UN agencies and large global charities responsible for establishing the Foundation and planning its activities.”

Government representatives refused to identify experts and representatives, but Abramovich’s spokesperson did not respond to requests for comment.

“It’s frowned upon that this information isn’t enthusiastically disclosed,” said Laurie Stylon, executive director of the US-based Watchdog Charity Watch.

“Hopefully, the priorities of the people chosen to lead this effort are closely aligned with public opinion and interest. Of course, they tell us who this person is. If you refuse, we have no way of determining it. “

One of the concerns expressed by the government is whether the types of foundations being discussed can handle the proceeds of the sale.

“Several charities have a budget of over £ 1 billion,” said one ally of sports minister Nadine Dorries. “We need to be confident that they can handle that amount.”

“There must be maximum transparency as to who benefits and who advises the process,” said Joe Powell, co-founder of the Activists Association Kensington Against Dirty Money. rice field.

Jeff Smith, Labor Party member of Manchester, Withington, and Shadow Sports Minister, said:

According to a statement from Chelsea, Abramovich “has not been involved in this work and has been independently managed by professionals with many years of experience working in humanitarian organizations.”

Government officials said ministers had set “high standards of trust” in their dealings with Abramovich and would not be satisfied with the “gentleman’s agreement,” which is not legally watertight.

“Our position, as he said, is that all proceeds from the sale must go for good reason. We are in talks with the club about how it will be structured.” Said one.

“There is growing government consensus that funds must be spent across Ukraine,” officials said, adding that the club has nominated “serious people” to negotiate how to do this. Added.

The UK Charity Commission said, “We have not received an application to register a charity to receive the sale price.”

“If we do, the application will be evaluated according to our standard process. In the meantime, there will be no comments.”

Bailey’s group, including investment firm Clear Lake Capital, Guggenheim Partners CEO Mark Walter, and Swiss billionaire Hans Jürgwis, has added £ 2.5 billion to Chelsea for an additional £ 1.75 billion. I plan to invest.

Charity campaign participants criticize Chelsea FC’s lack of transparency for donations

Source link Charity campaign participants criticize Chelsea FC’s lack of transparency for donations

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