Representatives for Roman Abramovich have denied he is planning on making Istanbul his permanent home and weighing up buying a Turkish club, less than a year after selling Chelsea.
Abramovich was forced into selling the West London club earlier this year after being sanctioned by the UK government in March for allegedly having ties to Russian president Vladimir Putin. Chelsea were desperate to secure a new owner amid a budget crisis, with their funds temporarily dictated by the British government.
A group led by US businessman Todd Boehly completed their takeover of the club following the conclusion of the 2021/22 campaign. It brought an end to Abramovich’s 19-year control of the club, a period in which they won five Premier League titles, five FA Cups and two Champions League crowns.
UK sanctions on the Russian oligarch were subsequently followed by the EU, which means that Abramovich's assets that are in EU territory could be taken and frozen. However, Turkey did not apply any sanctions on Russia which helped persuade Abramovich to make the nation his new home.
Abramovich has moved four of his yachts, worth an estimated $1.2billion in Istanbul, where he has been spending a great deal of his time in recent months. Every morning, the billionaire visits a cafe near Rumeli Hisar and has a coffee there before taking a walk along the promenade.
Reports have suggested he plans to settle in the Bebek district; a super-trendy upmarket Istanbul neighbourhood located within the administrative boundaries of the Besiktas district – home to one of the giants of Turkish football. However, representatives of Abramovich have denied that is the case.
It is widely assumed the oligarch is open to investing into a football club following his relinquishment of Chelsea earlier this year. Turkish football is not short of historic clubs, with Istanbul also home to Galatasaray, Fenerbahce and Istanbul Basaksehir.
It is estimated that Abramovich’s net worth has plummeted by a whopping 41.6 percent this year following the multiple sanctions on him and Russia, although it is still believed he has a net worth of $10.5billion.
Russian billionaires have faced sanctions, frozen state assets and have been cut off much of the Russian corporate sector from the global economy as they attempt to force Russian President Putin to change course on his invasion on Ukraine.
The 56-year-old has Russian, Israeli, and Portuguese citizenship, with his net worth making him the second richest person in Israel, the eleventh richest man in Russia and the richest man in Portugal.
Abramovich wrote on Chelsea’s website in March, confirming his intention of selling Chelsea: "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. Thank you, Roman."
