June 27, 2022

Chelsea Football Club’s Russian owner, businessman Roman Abramovich announced to sell the club 19 years after buying it and setting the team on a path to sporting glory.

With growing calls for Abramovich to be hit by sanctions after Russia’s invasion of its neighbour, he mentioned that a sale was in the best interests of the reigning European and world soccer champions, the fans, the employees, as well as the club’s sponsors and partners.

He further mentioned to not ask for loans he has made to the Premier League club – reported to total 1.5 billion pounds ($2.0 billion) – to be repaid to him and the sale would not be fast-tracked. While rather asked his aides to set up a charitable foundation which would receive all net proceeds from the sale.

He said that the foundation will be for the benefit of all victims of the war in Ukraine, which will include providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.

According to reports, Swiss business tycoon Hansjoerg Wyss mentioned his interest in buying Chelsea from Abramovich who over the weekend and was stepping back from running the club, but made no mention of any plans to change its ownership.

As per an interview, Wyss mentioned Abramovich is currently trying to sell all his villas in England, whilst also wanting to get rid of Chelsea quickly. He along with three other people had received an offer on Tuesday to buy Chelsea from Abramovich.