Abramovich only interested in selling a minority stake
Roman Abramovich is looking to sell a minority stake at Chelsea, sources close to the Russian claimed last night after he reportedly turned to an American investment bank to attract big-money offers.
Associates of the billionaire dismissed reports he was considering giving up his 15-year ownership of the club but indicated he may have brought in the same specialists who helped Manchester City’s Abu Dhabi ownership sell a 13 per cent stake to Chinese investors in 2015.
One source close to Abramovich said that “he has no plans to sell the club”, but is interested in attracting a new minority shareholder to release funds.
The Russian has already rejected a bid this year from Britain’s richest man, Sir Jim Ratcliffe, the boss of petrochemicals giant Ineos.
The Sunday Times claimed yesterday that Chelsea’s directors had brought in Joe Ravitch from the Raine Group after Silver Lake, an American private equity firm that owns shares in Tesla and Alibaba, made an unsuccessful approach for a minority stake.
However, Chelsea categorically denied claims the owner may listen to £2 billion offers, and said nothing had changed since reports of Sir Jim’s offer. The Raine Group is yet to comment, while a spokesman for Abramovich in Moscow told Reuters he would not talk about “market speculation”.
Raine Group, the specialist bank, might seek interest from investors in China, the United States and Middle East. It was claimed last week that Liverpool’s owner, Fenway Sports Group, rejected a £2 billion takeover from an Abu Dhabi Sheikh in January. Speculation over Abramovich’s plans for the club has rumbled on for months.
Chelsea’s transfer spending, compared with Premier League rivals, has slowed significantly, despite the £71.6 million deal for Kepa Arrizabalaga, the world’s most expensive goalkeeper. Meanwhile, ambitious plans to redevelop Stamford Bridge were halted in May.
Tensions between Britain and Russia grew this year after London accused Moscow of poisoning former double-agent Sergei Skripal in Britain in March.
Russia has denied involvement in the poisoning but wealthy Russians have been affected by the frosty relations between the countries. Abramovich ran into problems renewing his British visa this year, which caused him to miss Chelsea’s FA Cup final victory over Manchester United in May.
Since buying Chelsea in 2003, the club have enjoyed the most success in their history, with five Premier League titles, five FA Cups and the 2012 Champions League among their trophy wins.
Abramovich, who is reportedly worth £9.3 billion, earned his wealth from oil, aluminium and consumer goods. He reached a £150million divorce settlement in 2007 with second wife Irina.