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LONDON (AP) — Chelsea owner Roman Abramovich confirmed Wednesday that he will sell the Premier League club amid Russia’s invasion of Ukraine.
Russian billionaire Abramovich has decided it is “in the best interests” of the Champions League holders if he part ways with the club he has transformed since his purchase in 2003.
“As I have said before, I have always made decisions with the best interest of the club in mind,” Abramovich said in a statement.
“In the current situation, therefore, I have taken the decision to sell the club, as I believe it is in the best interest of the club, the fans, the employees, as well as the club’s sponsors and partners.”
Chelsea have won 19 major trophies in the Abramovich era, including their first two Champions League crowns and five Premier League titles.
But the 55-year-old’s reign will come to an end in the aftermath of the Russian invasion.
The British government has yet to order sanctions against Abramovich, who is said to be close to Russian President Vladimir Putin, but the Chelsea owner’s concern over possible asset seizures is said to have prompted his move to ditch the Blues.
Swiss billionaire Hansjorg Wyss and US investor Todd Boehly are reported to be two of the parties now preparing a joint bid for Chelsea.
Abramovich, who recently made a rare appearance to see Chelsea win the Club World Cup in Abu Dhabi, has also pledged to donate the net proceeds from the sale to help victims of the war in Ukraine.
“The sale of the club will not be rushed but will follow due process,” Abramovich said.
“I will not ask for any loans to be repaid. This has never been about business or money for me, but about pure passion for the game and the club. In addition, I have instructed my team to establish a charitable foundation where all net proceeds proceeds from the sale will be donated.
“The foundation will benefit all victims of the war in Ukraine. This includes providing critical funds for the urgent and immediate needs of the victims, as well as supporting long-term recovery work.”
Russian billionaire Abramovich has decided it is “in the best interests” of the Champions League holders if he part ways with the club he has transformed since his purchase in 2003.
“As I have said before, I have always made decisions with the best interest of the club in mind,” Abramovich said in a statement.
“In the current situation, therefore, I have taken the decision to sell the club, as I believe it is in the best interest of the club, the fans, the employees, as well as the club’s sponsors and partners.”
Chelsea have won 19 major trophies in the Abramovich era, including their first two Champions League crowns and five Premier League titles.
But the 55-year-old’s reign will come to an end in the aftermath of the Russian invasion.
The British government has yet to order sanctions against Abramovich, who is said to be close to Russian President Vladimir Putin, but the Chelsea owner’s concern over possible asset seizures is said to have prompted his move to ditch the Blues.
Swiss billionaire Hansjorg Wyss and US investor Todd Boehly are reported to be two of the parties now preparing a joint bid for Chelsea.
Abramovich, who recently made a rare appearance to see Chelsea win the Club World Cup in Abu Dhabi, has also pledged to donate the net proceeds from the sale to help victims of the war in Ukraine.
“The sale of the club will not be rushed but will follow due process,” Abramovich said.
“I will not ask for any loans to be repaid. This has never been about business or money for me, but about pure passion for the game and the club. In addition, I have instructed my team to establish a charitable foundation where all net proceeds proceeds from the sale will be donated.
“The foundation will benefit all victims of the war in Ukraine. This includes providing critical funds for the urgent and immediate needs of the victims, as well as supporting long-term recovery work.”
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