The long-running saga of Chelsea's multi-billion-pound takeover has taken a dramatic new twist. Recent company accounts reveal that former owner Roman Abramovich is legally required to donate only the net proceeds of the sale to a charitable foundation. With massive internal debts owed to a Jersey-based investment firm, less than half of the headline price will reach war victims.According to a report by The Times, the long-standing saga surrounding the proceeds of Chelsea’s sale has taken a dramatic turn. While the club was sold to Blueco 22 Ltd for a total price of £2.5 billion, accounts for Fordstam Ltd reveal that Roman Abramovich is legally obliged to pass on only approximately £987 million to a charitable foundation. This total sale figure consisted of a £2.35bn payment received, a £150m holdback amount, and £41.6m in transaction fees.This net gain figure comes as a significant blow to those expecting the full sum to be utilised for humanitarian aid following the Russian invasion of Ukraine. The company's financial statements note that Abramovich intends to donate the net proceeds from the sale, after allowing for other balance sheet items. Furthermore, £1.24m was spent during the financial year simply setting up a structure to handle this donation, alongside legal and audit fees.The stark discrepancy between the sale price and the donation amount boils down to massive internal debts held by the former holding structure. Fordstam’s accounts for the year ending June 2023 confirm that the company owes £1.4bn to a Jersey-registered entity called Camberley International Investments.This related party was famously used by the Russian billionaire to pump loans into the club during his trophy-laden two-decade reign at Stamford Bridge. While the cash currently sits frozen in a UK bank account, these liabilities must be settled within the balance sheet before a true net figure is reached.The situation is further complicated by a fierce legal tug-of-war between his team and the British government. Lawyers for the former owner have reportedly warned against any attempts at confiscation, insisting the sale proceeds belong to him entirely. Furthermore, a dispute rages over the charity's scope; he seeks to help all victims of the conflict, whereas the government insists funds must be used within Ukraine's borders.Pressure is mounting, as prime minister Sir Keir Starmer has previously threatened to seize the frozen £2.35bn if an agreement to release the money is not reached by March 17. Adding to the financial complexity, the frozen cash balance managed to generate a staggering £62.8m in interest over a single year.Add GOAL.com as a preferred source on Google to see more of our reportingAdding to the uncertainty, funds linked to Camberley International Investments are currently under investigation by the Attorney General of Jersey to determine if certain assets constitute the proceeds of crime, an action Abramovich is vigorously contesting. Meanwhile, the net gain of £987m specifically excludes the £150m holdback retained by Blueco 22 until May 2027. Fordstam has excluded this sum due to “doubts over its full recoverability,” as the funds are earmarked to cover potential fines from 74 FA charges. These charges relate to alleged off-the-books payments, including a secret payment to Eden Hazard’s former agent, though Chelsea are hopeful of receiving only a fine as they self-reported the breaches after discovering them during the 2022 takeover.