Even for a man who so rarely makes public utterances, the silence this morning was deafening.
Plenty are speaking on behalf of Roman Abramovich right now, be it the spokesperson who confirmed on Monday that he was flying out to aid peace talks between Russia and Ukraine or Chris Bryant MP, who claimed in the House Commons that the oligarch is offloading his London property portfolio.
Now, Swiss billionaire Hansjorg Wyss says Abramovich wants to sell Chelsea — and fast. Neither the club, nor Abramovich’s spokesperson responded to Standard Sport’s request for comment earlier today. That speaks volumes.
Previously the script has been clear: Chelsea is not and will not be put up for sale. As recently as the weekend, when Abramovich made his announcement that he would hand over stewardship of the European champions, sources were adamant his commitment remained.
That was the big question hanging in the air after his brief statement. If control of the club had been handed to the trustees of Chelsea’s charitable foundation, then, in theory, would-be buyers could negotiate directly with them.
That was immediately quashed due to Abramovich’s determination to maintain his ownership having already been made clear. The longer this week goes on, the more it appears Saturday’s announcement was made in haste.
Even among the trustees, who have serious misgivings about a relatively small charity suddenly assuming control of one of the world’s biggest clubs, there are questions about the advice Abramovich received ahead of his statement.
If it was intended as a quick fix in light of Vladimir Putin’s invasion of Ukraine — with, notably, no suggestion that it was a permanent move — it has turned out to be anything but. Trustees have now reported a “serious incident” to the Charity Commission and some may resign over the position they have unwittingly been placed in.
Meanwhile, if Abramovich intended to protect Chelsea by taking a step back, his actions have done nothing of the sort. Rather, it has intensified the spotlight on the club to the point where Thomas Tuchel was forced into an emotional outburst when continually questioned about his owner during the pre-match briefing for tonight’s FA Cup fifth-round tie with Luton.
It has done nothing to quieten Bryant, who is increasingly calling for sanctions on the 55-year-old. There is now a growing feeling that it is a matter of time before Abramovich sells Chelsea, with Wyss claiming he has been approached to buy the club.
As Abramovich has not been sanctioned for his association with Putin, he is still free to sell. But were he to have his assets seized by the UK Government, the future is nothing like as clear for Chelsea.
The feeling among financial figures is that bids would come from investment funds or the Middle East. In recent days, US private equity firms have been linked, while Wyss claims any bid from him would come as part of a consortium. Previously, American Todd Boehly was linked with a takeover, along with Britain’s richest man, Sir Jim Ratcliffe. But Wyss suggested the asking price was too high — even though a specific figure has not been set.
Abramovich is owed £1.5billion by the club, meaning that is likely to be the starting point of any valuation. A major issue is Stamford Bridge. With a capacity over little over 40,000, it is the smallest of any of the top six Premier League clubs. Add to that the fact that the freehold belongs to non-profit Chelsea Pitch Owners, a potentially massive headache awaits buyers.
But, for Abramovich, whose £11.5bn fortune has taken a hit of at least £1.5bn since Russia launched its invasion of Ukraine, it is just one part of an even bigger headache.
