Roman Abramovich says he has made the “incredibly difficult decision” to sell Chelsea, amid Russia’s continued invasion of Ukraine.
The Russian-Israeli billionaire has owned the Blues since 2003 and helped steer the Stamford Bridge club to 19 major trophies.
But the 55-year-old’s glittering reign in west London is close to an end, with a consortium of billionaires already making their interest in a deal public.
Swiss billionaire Hansjorg Wyss and USA investor Todd Boehly are understood to be two of the parties joining forces and now preparing a bid for the Blues.
Statement from Roman Abramovich.
— Chelsea FC (@ChelseaFC) March 2, 2022
Abramovich could come under UK government sanctions given his proximity to the Russian state, though he is also understood to have been attempting to broker a peace deal between Russia and Ukraine.
“I would like to address the speculation in the media over the past few days in relation to my ownership of Chelsea FC,” read Abramovich’s statement.
“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.
“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.”
The 86-year-old Swiss businessman Wyss has already revealed his intention to bid for Chelsea, in a move that appears designed to fast-track a sale and potentially reduce the eventual price.
American Boehly has been revealed as the first of a possible string of partners, as Wyss attempts to push on with a deal.
Abramovich has vowed not to rush the sale of a club that have won two Champions League titles, as well as the Club World Cup title earlier this year, under his ownership.
Abramovich has also pledged to donate any net proceeds from the club’s sale to help victims of the war in Ukraine.
Allied to spearheading Chelsea’s long-running Say No To Anti-Semitism campaign, Abramovich opened up the hotel at Stamford Bridge to NHS staff during the Covid-19 pandemic.
And now Abramovich is determined to leave Chelsea in rude financial health after the club’s sale, pledging to wipe out the £1.15billion debts as well as divert proceeds to aid those suffering from Russia’s invasion of Ukraine.
“The sale of the club will not be fast-tracked but will follow due process,” continued Abramovich’s statement.
“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.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here