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Thursday, August 11, 2022

Russia-Ukraine War: Abramovich puts Chelsea Football Club up for sale

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Russian billionaire and owner of Chelsea football club, Roman Abramovich, says he is selling Chelsea Football Club to give net proceeds to all victims of the war in Ukraine.

Abramovic will pay the £1.5b loan to Chelsea and would donate 100% of the proceeds from the sale of Chelsea Football Club to a charity that will benefit all victims of the war in Ukraine.

Abramovich reveals this on Wednesday: “I would like to address the speculation in media over the past few days concerning my ownership of Chelsea FC.

“As I have stated before, I have always taken decisions with the Club’s best interest at heart.

Read Also: Chelsea Owner Roman Abramovich Relinquishes Stewardship of Club

“In the current situation, I have therefore decided to sell Chelsea football club, as I believe this is in the best interest of the Chelsea Football Club, the fans, the employees, as well as the Chelsea’s sponsors and partners.

“The sale of Chelsea Football 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 or 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.

On Saturday, Abramovich gave “stewardship and care” of Chelsea to its foundation trustees following Russia’s invasion of Ukraine.

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