Abramovich is selling Chelsea
ROMAN Abramovich says he will sell Chelsea FC with the “net proceeds” going to a charitable foundation helping victims of war in Ukraine.
The Russian-Israeli billionaire has owned the Blues since 2003 and helped steer the Stamford Bridge club to 19 major trophy successes.
But the 55-year-old’s reign in west London is close to an end. Swiss billionaire Hansjorg Wyss and US investor Todd Boehly are understood to be two of the parties preparing to make a bid.
The club’s current owner is said to want around £4billion for the club.
But potential buyers, including Mr Wyss, say the figure is too high.
Broker
In a statement yesterday Mr Abramovich said: “I would like to address the speculation in the media over the past few days in relation to my ownership of Chelsea FC.
“As I have stated before, I have always taken decisions with the club’s best interest at heart.
“In the current situation, I have therefore taken the decision to sell the club, as I believe this is in the best interest of the club, the fans, the employees, as well as the club’s sponsors and partners.”
Mr Abramovich has not come under UK government sanctions.
And he is also understood to have been attempting to broker a peace deal. He has vowed not to rush the sale of a club that have won two Champions League titles, as well as the Club World Cup title earlier this year, under his ownership.
Mr Abramovich is said to have loaned the club £1.5billion but he said: “I will not be asking for any loans to be repaid.
“This has never been about business nor money for me, but about pure passion for the game and club.
“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.”
The money will pay for the immediate needs of victims, and long-term recovery.
He said the sale was “an incredibly difficult decision” and wants to visit Stamford Bridge to say goodbye.
Labour MP Chris Bryant said he hopes auction houses such as Sotheby’s and Christie’s are “taking action” while Russian oligarchs are “rapidly divesting”.
He again questioned what the Government is doing to “speed up” sanctions.
Mr Bryant added: “We’re a long way short of what the US has done and the EU.”
Defence minister James Heappey said Britain could do more but “let’s not forget just how punitive what has been done is”.