Abramovich Confirms Plan To Sell Chelsea, To Donate Proceed To War Victims In Ukraine

Roman Abramovich has confirmed the sale of Chelsea to new investors following clampdown on the Russian billionaire by the British government.

The 55-year-old also said he would donate the proceeds of the sale of the club to war victims in Ukraine.

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Abramovich has put an asking price of £4bn (N2.23trn), with at least three investors including Swiss billionaire Hansjorg Wyss showing interest.

Chelsea owes the Russian billionaire £1.5bn (N837.3bn), but the billionaire said in a statement on Wednesday that he will not ask for the repayment.

Abramovich also said that the sale of the club will not be fast-tracked and will follow due process.

The billionaire 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.

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“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.

“The sale of the Club will not be fast-tracked but will follow due process. 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.”

On February 26, Abramovich committed the welfare of the club to a charitable foundation following pressure from the British MP for his role in Russian president, Vladimir Putin’s government.

He is one of the 35 oligarchies named by Russian opposition leader Alexei Navalny to have a link to Putin.

Abramovich said, “Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated.

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“The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.

“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. However, I do believe this is in the best interest of the Club.

“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart.”

The Russian has also been barred from Britain. Abramovich is yet to have his UK visa renewed after it expired in 2018.

The Sun quoted sources saying Abramovich will never be allowed to live in Britain.

The billionaire’s case is being handled by the Home Office’s ‘Special Cases Unit’

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The billionaire made his wealth through the sale of assets purchased when the Soviet Union collapsed.

In 2003, the billionaire acquired Chelsea and transformed it to a major English club.

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