Roman Abramovich says he plans to sell Chelsea club

Roman Abramovich says he plans to sell Chelsea club

Roman Abramovich recently resigned from English football club Chelsea. This time the owner is leaving. Abramovich has decided to sell his favorite club Chelsea after Russia's ongoing attack on Ukraine. This Russian owner has been taking care of Chelsea for so long.

Roman Abramovich bought ownership of Chelsea in 2003. Chelsea have won eight league and two UEFA Champions League titles in the last 19 years under his ownership. Earlier, Chelsea had just one Premier League title. The Russian billionaire who changed the face of Team Blues by betting on the team exchange market.

The 55-year-old billionaire announced on Saturday that he would hand over Chelsea's "guardianship" to the Chelsea Charitable Foundation after demands were made in the UK Parliament to impose sanctions on Abramovich. But rumors have been circulating for two days that the Chelsea Charitable Foundation is unwilling to take charge. Abramovich made the decision to sell the club in a detailed statement on the website of London-based club Chelsea on Wednesday.

Abramovich insists he is not going to ask for the repayment of loans he made to Chelsea totalling circa £1.5bn, which in itself also has possible Financial Fair Play implications. The Russian billionaire also says that the proceeds from the sale of Chelsea will go to charity to help the victims of the Ukraine war!

Roman Abramovich's Statement

"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. 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."