Roman Abramovich has said that Chelsea is up for sale and added that all the proceeds shall be donated for the benefit of victims of war in Ukraine. Abramovich’s statement was shared on Chelsea’s social media on Wednesday. The dramatic development comes in the wake of Russia attacking Ukraine.
“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,” Abramovich said.
The Russian will not ask to be repaid the GBP 1.5 billion the club owes him. Chelsea won the Club World Cup for the first time last month, with Abramovich in attendance in Abu Dhabi, after clinching a second Champions League title last year. The first Champions League title also came under Abramovich’s ownership.
“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. 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,” he said in the statement.
“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,” he concluded.
Abramovich had bought the club in 2003 and a few days ago, he tried to distance himself from the club in a bid to save it from possible sanctions and passed on its care and stewardship to the trustees of Chelsea. After that, reports suggested Abramovich was even involved in looking to resolve the Russia-Ukraine crisis.
ESPN had reported that Abramovich had valued the club at GBP 3 billion in the past. 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 fall-out from Russia's invasion of its neighbour.
Swiss billionaire Hansjorg Wyss and US investor Todd Boehly, a co-owner of the Los Angeles Dodgers baseball team, are reportedly two of the parties preparing a joint bid for the Premier League giants, with American bank the Raine Group handling the sale.
(With AFP Inputs)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)