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CHELSEA

Abramovich puts Chelsea up for sale and sets up charitable foundation for victims of Ukraine war

The oligarch's close ties with Russian president Putin has come under heavy scrutiny of late

Picture Courtesy of : John Dobson
Roman Abramovich photographed at Stamford Bridge

Roman Abramovich photographed at Stamford Bridge

19 years after buying London-based Chelsea Football Club, Russian billionaire Roman Abramovich has confirmed that he has had no choice but to put the club up for sale. 

 

In a statement on Chelsea’s website, the 55-year-old has stated that he won’t ask for the repayment of the massive loan worth £2bn that the club owes him and that all net proceeds from the sale will be donated to a foundation set up for the victims of the war in Ukraine.

“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.” read part of the statement. 

 

The Russian stressed that it has been an incredibly difficult decision for him to make and that he hopes to be able to visit Stamford Bridge one final time to say goodbye in person. 

 

Fans of Chelsea will be sad to see the back of the man who put them on the football map and helped them compete regularly with the elites of European football ever since he bought the club in 2003.

 

According to newspaper Blick, Swiss billionaire Hansjörg Wyss, as part of a consortium, could consider buying the English football club.

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