Chelsea FC’s Russian Owner Roman Abramovich Confirms He Is Selling Club, Says He’ll Give Proceeds To Ukraine

deadline.com:

Roman Abramovich, the Russian owner of England’s Chelsea FC, one of soccer’s biggest clubs, said Wednesday that he is selling the franchise, with the proceeds to go to a foundation that will benefit war victims in Ukraine.“I have always taken decisions with the Club’s best interest at heart,” he said in a statement. “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.”Abramovich, who has close ties to Russia president Vladimir Putin, is reportedly seeking between £3 billion-£4 billion for the English club, which he effectively purchased in 2003 for £140 million.

The team has vaulted to become one of the best in the world and has won the Premier League title five times and the UEFA Champions League title twice among 18 trophies since he took over.The news comes after Abramovich, one of Russia’s richest people, said last week he would hand over stewardship of the club to its trustees in the aftermath of Russia invading Ukraine.

Over the weekend the Jerusalem Post reported Abramovich was contacted by Ukraine and flew to Belarus to assist in ongoing peace talks.“The sale of the Club will not be fast-tracked but will follow due process,” Abramovich said today. “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.