Chelsea owner Roman Abramovich confirmed via a statement through the club’s website that he has put the club up for sale, amid the threat of sanctions against Russia and its associates. The oligarch promised to forego the 1.5 billion the club owes him in debt. The oligarch is facing the threat of sanctions and having his assets frozen by the United Kingdom government amid the ongoing Russian-Ukrainian political crisis.
Abramovich, whose periodic loans to Chelsea built up a massive debt of 1.5 million pounds, has promised to forego them as he looks for a buyer to take the club off his hands.
“I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC. 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 statement on the Chelsea website read.
“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.”
Furthermore, Abramovich confirmed through the release that he has mandated that his team set up a charitable foundation, through which all the net proceeds from the sale of the club will be donated for the benefit of the victims of the war in Ukraine. The Russian closed his statement by communicating that he hopes he gets to visit Stamford Bridge one last time – before the two entities separate.
Swiss billionaire Hansjorg Wyss is reportedly interested in buying the club, albeit in collaboration with American tycoon Todd Boehly. Reports also claim that Loutfy Mansour of the Mansour Group has also expressed interest in buying the club – and is said to be mulling alternatives over how to do so.
