Russian oligarch Roman Abramovich has confirmed that he will be selling Chelsea FC for £4 billion ($7.3 billion USD) after 19 years of ownership, amid the Russian invasion of Ukraine.
In an official statement released by Chelsea FC, Abramovich noted that he believed selling the club is within the best interest and that it’s not for the money but the pure passion for the sport.
“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.”
Official Statement by Abramovich via Chelsea FC
Ever since Abramovich’s acquisition of the football club in 2003, Chelsea FC won multiple championships, most recently the 2022 Club World Cup. Abramovich doesn’t expect the sale to come in swiftly but has instructed the club that all proceeds will go towards the Ukrainian victims affected during the conflict.
Possible UK sanctions
Yesterday, UK Labour leader, Sir Keir Starmer, questioned British Prime Minister Boris Johnson in parliament about why the Russian oligarch isn’t facing sanctions in the UK. The opposition called for tougher actions against the Russian oligarch.
Starmer cites comments made by Labour MP Chris Bryant that accused Abramovich of having links to the Russian state and accused him of “corrupt activities and practices”.
Bryant said in parliament yesterday that he believes Abramovich is making the sale, along with other properties he owns in the UK, as he fears being sanctioned.
“Well I think he’s terrified of being sanctioned, which is why he’s already going to sell his home tomorrow, and sell another flat as well,” said Bryant.
“My anxiety is that we are taking too long about these things”.
Who is Roman Abramovich?
Roman Abramovich is a Russian billionaire who bought Chelsea FC in 2003. He has high connections in Russia, including with Russian President Vladimir Putin. According to Forbes in 2020, Abramovich was the 10th richest man in Russia, with a net worth of $11.3 billion.
In Feb.2022, Abramovich attempted to distance himself from the club and handed the custody and care to the Chelsea Foundation’s trustees. However, the trustees were not willing to take on the responsibility.
In the statement released today, the Russian billionaire described is time with the club as a “privilege of a lifetime.”
“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”.
