Roman Abramovich To Sell Chelsea FC And Donates Proceeds To Victims Of The War In Ukraine

Roman Abramovich on Wednesday night sensationally confirmed Chelsea is up for sale and that he is writing off the £1.5billion debt he is owed by the club.

In a staggering development just after 6pm, Abramovich broke his silence to confirm the move — with net proceeds of any sale being donated to the victims of the war in Ukraine.

It was confirmed on Wednesday morning that the club had been put on the market, with an asking price of at least £3billion. And last night Abramovich said in a statement: ‘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 … I will not be asking for any loans to be repaid.’

Abramovich has instructed American bank the Raine Group to handle the sale. 

Swiss billionaire Hansjorg Wyss claims he has been approached and is considering an offer as part of a consortium which also includes Todd Boehly, the co-owner of baseball’s Los Angeles Dodgers. 

Sources claim Abramovich believes Chelsea is worth more than £3bn. However, it seems inevitable he will have to lower his expectations.

Why has Abramovich chosen to sell?

Other Russian billionaires have already been the subject of European Union sanctions where their assets have been frozen.

That has included Russian billionaire Alisher Usmanov, who has commercial links to Everton.

The United Kingdom government is yet to sanction Abramovich or Usmanov, but Labour MP Chris Bryant said in Parliament on Tuesday that Abramovich was "terrified of being sanctioned which is why he is going to sell his home tomorrow [Wednesday], and another flat as well".

On Wednesday, during Prime Minister's Questions, Labour leader Keir Starmer asked why Abramovich was not facing sanctions, with Boris Johnson replying it was "not appropriate to comment on any individual cases at this stage".

A spokesperson denied the Labour leader's claims and said Abramovich had not done anything sanctionable.

Wyss also said: "Abramovich is trying to sell all of his villas in England, he also wants to get rid of Chelsea quickly.

"I and three other people received an offer on Tuesday to buy Chelsea from Abramovich."

A spokesperson for Abramovich declined to comment on those claims.