Russian businessman puts Chelsea up for sale

The Russian businessman Roman Abramovich announced that the Chelseawhich he has owned since 2003, is for sale.

In a club statement, the 55-year-old millionaire shared his “decision to sell the club”, alluding to “the current situation”.

“I have made 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 sponsors and partners,” he said.

Abramovich specified that he will not request repayment of the loans he granted to the London club, estimated at 1,500 million pounds (1.8 billion euros2,000 million dollars) and that the “net proceeds” of the sale will be destined to “a charitable foundation for the benefit of all victims of the war in Ukraine“.

Unlike other Russian oligarchs, Abramovich has not been subject to financial sanctions by the European Union so far or from the British authorities, but the pressure increased strongly since the beginning of the Russian invasion of Ukraine.

On Saturday, Abramovich announced that he was delegating the management of the club to six trustees from the Chelsea foundation.

This Wednesday, the press information about a possible sale was gaining weight when Hansjorg Wyss, one of the richest men in Switzerland, declared to the newspaper Blick that they had proposed to him to buy Chelsea.

The sale of the club will not be done in a rush and will follow its normal course.” Abramovich specified about the club he bought in 2003 for 140 million pounds (168 million euros, 187 million dollars) and in which he has made large investments since then.

During the stage with Abramovich, the ‘Blues’ have experienced their most golden age, with 5 English league titles, 5 FA Cups, 3 English League Cups, 2 Champions Leagues, 2 Europa Leagues and recently his first Club World Cup title.

“It has been an incredibly difficult decision to make and I am sad to leave the club in this way. However, I truly believe that it is in the best interest of the club,” he stressed.

“I look forward to visiting Stamford Bridge (Chelsea’s home ground) one last time to say goodbye to everyone in person. It has been a unique privilege to be a part of Chelsea FC and I am proud of all of our successes.”


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