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Roman Abramovich has finally announced his intention to sell Chelsea after slowly stepping back from the club.
Statement from Roman Abramovich.
— Chelsea FC (@ChelseaFC) March 2, 2022
In a statement, Abramovich announces his intention to sell, saying it was in the best interest’s of the club and it’s partners.
“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.”
This decision follows week’s of speculation that originally saw the Russian owner attempt to pass over stewardship of the London club to it’s foundation trustee’s, as pressure grew on him following links to Russian President, Vladimir Putin and the ongoing conflict in Ukraine.
Although Abramovich has seemingly come to the decision reluctantly, he has stated he will not ask the club to pay loans to him, saying “This has never been about business nor money for me, but about pure passion for the game and Club.” and has said that all profit made from the subsequent sale of the club, will go to a foundation set up to benefit the victims of the war in Ukraine.
Abramovich: “I will not be asking for any loans to be repaid. This has never been about business for me, but about pure passion for the game and Club”. 🚨🔵 #CFC
“I have instructed my team to set up a charitable foundation for the benefit of all victims of the war in Ukraine”. pic.twitter.com/t3NtO08DOj
— Fabrizio Romano (@FabrizioRomano) March 2, 2022
Earlier this week, prospective buyer, Swiss Billionaire Hansjorg Wyss said the Russian wanted to get rid of the club “quickly” after Parliament looked into sanctions against his assets.
The move will end over 19 years of ownership for Abramovich, having bought Chelsea in 2003 for £140 million. Since then he has propelled the club to continued success, despite being known for being rather trigger happy when it came to managers. In that time, he has loaned the club around £1.5 billion, money he does not expect back.
The sale of the club will take a while, with the magnitude of price and size, but one thing’s for sure, Abramavich’s reign has changed Chelsea indefinitely, but is almost certainly over.
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