Chelsea is up for sale – Roman Abramovich confirms

The Russian businessman and Chelsea owner Roman Abramovich confirmed that the Stamford Bridge side is up for sale.

This comes following media speculation that with the looming threat of sanctions coming from the United Kingdom’s government, Abramovich might face a huge blow for his club, as he is a staunch supporter and a close ally of Russian President Vladimir Putin.

With the ongoing Russia-Ukraine conflict currently taking a toll, sanctions have been imposed, and this has led to the ban of the Russian sports fraternities from contesting in upcoming tournaments.

Moreover, anything that is connected with Russia has been discontinued, and the sale of Chelsea comes at hard times where the Russian businessman had to make a difficult choice over his club.

Abramovich described the sale of Chelsea as an incredibly difficult decision he had to make.

“It pains me to part with the club in this manner,” said Abramovich.

Clearing the throat over speculations over these past few days, Chelsea’s boss said: “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,” he clarified.

However, Abramovich said the sale of the club will not be fast-tracked but will follow due processes.

He said that he will not ask for the £1.5bn in loans to be repaid to him and that all net profits will be distributed, via the foundation.

He said that profits from sale will be donated to a charitable foundation.

“I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated,” said the Chelsea headman.

He said the foundation will be for the benefit of all victims of the war in Ukraine.

“This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery,” he said.

It is reported that potential buyers have already approached a US-based merchant bank and have been told Abramovich will demand £4bn for his asset.

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