Roman Abramovich has dramatically confirmed his intention to sell Chelsea Football Club.
The Russian, who bought the club in July 2003, released a statement this evening which stated he had taken the “incredibly difficult decision” to sell but he believed it was in the best interest of the club.
Abramovich said that he will not be seeking any repayment loans he has given Chelsea – which are in excess of £1.5billion – and has stated net proceeds from the sale will be donated to a charitable foundation created to benefit victims of the war in Ukraine.
The statement read: “I would like to address the speculation in the media over the past few days in relation to my ownership of Chelsea FC.
“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.
“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.
“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."
Earlier today, pressure increased on the UK government to seize the assets of Abramovich following Russia’s invasion of Ukraine.
Sir Keir Starmer, leader of the Labour Party, asked prime minister Boris Johnson why the oligarch had not yet been included in the list of Russian businessmen facing sanctions.
He said: “Roman Abramovich is the owner of Chelsea Football Club and various other high value assets in the United Kingdom.
"He is a person of interest to the Home Office because of his links to the Russian state and his public association with corrupt activity and practices.
"Last week the prime minister said that Abramovich is facing sanctions and later corrected the record to say he isn't. Why on earth isn't he?"
In reply, Johnson said: “It is not appropriate for me to comment on specific cases at this stage" but "the vice is tightening [on people associated with Vladimir Putin] and it will continue to tighten."
Abramovich vehemently denies any direct links to Russian president Putin, whose invasion of Ukraine has been widely condemned. But senior sources in Westminster say that this move may be pre-emptive with the threat of sanctions growing louder.
The Chelsea owner has enlisted the help of US firm Raine to manage the sale and several potential bidders have already been contacted.
Todd Boehly is one of the American businessmen in talks with Swiss billionaire Hansjorg Wyss about forming a consortium to purchase the Blues.
Wyss, speaking to Swiss number Blick, said he was forming a consortium with three American businessmen but was unsure of the exact asking price as Abramovich prepares to end his 19 years in charge of the club. The Russian may look for about £2billion, which is significantly less than what Boehly reportedly offered three years ago.
“[Abramovich] wants to get rid of Chelsea quickly,” Wyss said. “I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.
"I have to wait four to five days now. Abramovich is currently asking far too much. You know, Chelsea owe him £2billion [it is £1.5billion]. But Chelsea has no money. That means: those who buy Chelsea should compensate Abramovich.”
Boehly, who has a stake in MLB side Los Angeles Dodgers and also failed in a bid to purchase Tottenham Hotspur, carried out some due diligence on the club ahead of an intended takeover in 2019, only to be rejected by Abramovich. That previous work, however, could well speed up any deal this time around, although it is far from certain that this consortium will takeover.
It is likely to take some time for a sale to be completed due to paperwork.
