Viral
Russian Billionaire Roman Abramovich Announced He Is Selling The Chelsea FC
The club sits at third in Premier League.
Roman Abramovich has announced his intention to sell Chelsea FC amid Russia’s continued invasion of Ukraine. The Russian billionaire said the move would be in the club’s best interests and that he would be donating all of the net profit from the sale of the club to a newly-formed charitable foundation for the benefit of all victims of the war in Ukraine.
Roman’s future at the club had come into question as he faced the possibility of economic sanctions as the UK penalizes wealthy Russians due to the ongoing war.
And as rumored, it’s believed that Roman, who had bought Chelsea in 2003, seems to have close links to Russian President Vladimir Putin. While he indeed changed the landscape of English Football, Roman has also insisted he will be writing off the £1.5bn in loans owed to him by the club.
His recently released statement reads: “I would like to address the speculation in 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.”
“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.”
Statement from Roman Abramovich.
— Chelsea FC (@ChelseaFC) March 2, 2022
“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. 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.”
Chelsea had won the Champion League twice in 2012 and 2021 and five Premier League titles, five FA Cups, three League Cups, and two Europa League trophies.
In total, they’ve won 21 trophies under 15 managers with Roman [pictured] in charge.
Before this, Roman had previously attempted to pass the “stewardship and care of the club to its board of trustees. Some people had reservations about the plan, and as a result, Roman tasked the US-based merchant bank Raine Group to contact potential buyers.
Swiss billionaire Hansjorg Wyss recently confirmed he was putting together a consortium to make a formal bid for the club, which is reported to include LA Dodgers part-owner Todd Boehly. On the other hand, Labor leader Keir Starmer had questioned prime minister Boris Johnson over Roman had not yet been sanctioned.
