Chelsea Owner Roman Abramovich Decided to Sell the Club

After various speculations surfacing the football community regarding his intentions, Roman Abramovich has officially announced that he is selling the Chelsea football club.

The Russian billionaire has owned Chelsea for over 19 years, during which time the team has gone on to conquer the football world to become one of the biggest clubs on the planet.

Abramovich’s decision to sell the club comes due to growing concerns regarding the club being hit by sanctions following Ukraine’s invasion by Russia. The businessman has announced that through the sale of his beloved club, he aims to help war victims in Ukraine by donating the proceeds to them. He aims to use the money to provide critical relief for any urgent needs as well as long-term rehabilitation of victims.

Abramovich intends to mediate peace between the two neighbors and has created a charitable foundation to donate the money efficiently. He said the sale process would not be fast-tracked and would follow due diligence. He also said that the decision was in the best interests of the partners, sponsors, employees, fans, and the club.

The metals magnate had bought Chelsea in 2013 for £140 million and is owed £1.5 billion by the club. However, he said he didn’t intend to ask for any repayments and that it was never about the money for him, but for the love of the game.

According to various reports, an offer has already been placed by Swiss billionaire Hansjorg Wyss to purchase the club.

Author: Clayton Kuhn