(Football news) Russian billionaire Roman Abramovich has announced that he will be selling Chelsea FC with the net proceeds of the sale being donated to the victims of the war in Ukraine. Earlier this week, Abramovich had released a statement on the club’s website that he was handing "stewardship and care" of Chelsea to the club foundation's trustees in order to protect the club amid talks of sanctions due to Russia’s invasion of Ukraine.
Abramovich purchased Chelsea in a £140m deal in 2003 and the club currently owes him £1.5billion. However, the Russian has claimed that no outstanding loans will need to be repaid and has said that the sale "will not be fast-tracked but will follow due process". Swiss billionaire Hansjorg Wyss has claimed that he was offered a chance to buy the club while Irish professional mixed martial artist Conor McGregor has expressed interest in purchasing the London based club.
In a statement released by Abramovich, he said “I would like to address the speculation in the 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.”
One of the biggest talking points in this statement is whether Roman Abramovich will be allowed to sell off his prized asset. If he is subjected to sanctions by the United Kingdom, his assets could be frozen and it would create complications for the deal to go ahead. It’s unlikely that chairman Bruce Buck and Director Marina Granovskaia will remain at the club beyond the potential takeover. Having bought Chelsea almost two decades ago, Roman Abramovich is expecting £3bn from the sale and the net proceeds are expected to be around £2.9bn which would go to the victims of the invasion in Ukraine.
Also read: Azpilicueta and Christensen on the verge of joining Barcelona
