Russian businessman Roman Abramovich said on Wednesday he will sell English soccer club Chelsea 19 years after buying the London club and putting it on the path to sporting glory, and pledged to donate money from the sale to help victims of the war in Ukraine.
Amid calls for sanctions to be imposed on Abramovich over the Russian-Ukrainian war, the metal magnate said in a statement that the sale was in the interest of the Champions League and Club World Cup holders.
“In the current situation, I have taken the decision to sell the club, as I believe this is in the interest of the club, the fans and the staff, as well as the club’s sponsors and partners,” Abramovich said.
Abramovich said he would not demand the club repay the loans granted to him, estimated to total 1.5 billion pounds ($2.0 billion), and that the sale would not happen quickly.
He also added that he asked his aides to establish a charitable foundation that would receive the entire proceeds of the sale, net.
“The foundation will work for all the victims of the war in Ukraine,” the Russian billionaire added in the statement. This includes providing the necessary funds to meet the immediate and immediate needs of the victims, as well as the long-term recovery processes.”
Swiss business magnate Hansorg Weiss told the Swiss newspaper Blick that he was considering buying Chelsea from Abramovich, who announced last Saturday that he was stepping down from the club’s management in favor of the Chelsea Foundation’s board of trustees, but did not mention any plans to change ownership at the time.
“Abramović is currently trying to sell all of his property in England,” Blake quoted Weiss as saying in an interview published on Wednesday. He also wants to get rid of Chelsea FC quickly. On Tuesday, I and three others received an offer to buy Chelsea from Abramovich.
A period full of nicknames
Abramovich bought the west London club in 2003 and his investment has helped Chelsea achieve the most successful period in the club’s history, winning five Premier League titles, the FA Cup and the Champions League twice.
His purchase of the club changed the landscape of English football, as Chelsea broke the strong dominance of Manchester United, Arsenal and Liverpool.
Last February, the team defeated the Brazilian Palmeiras to become the Club World Cup champion for the first time in its history, and beat Manchester City in the Champions League final last season.
BBC presenter and former England striker Gary Lineker described the announcement of the sale ahead of coverage of Chelsea’s match against Luton Town in the FA Cup fifth round as a “touching moment”.
Chelsea fans at Luton Town before kick-off chanted the name of the Russian billionaire.
The 55-year-old Abramovich, who also holds Israeli and Portuguese citizenship, became one of Russia’s most powerful businessmen by making a fortune after the collapse of the Soviet Union in 1991. Forbes magazine estimated his net worth at $13.3 billion.
Britain imposed sanctions on 12 elite men in Russia and Belarus, including Russian President Vladimir Putin, as well as at least 12 Russian banks and companies.
The leader of the British Labor opposition, Keir Starmer, today asked Prime Minister Boris Johnson why sanctions were not imposed on the owner of Chelsea.
Johnson, who was speaking in Parliament, said he could not go into specifics of specific cases.
But Secretary of State Liz Truss warned that she had drawn up a “limited list” targeting Russians loyal to Putin’s regime, and said the government would impose new sanctions on them every few weeks.
The British Financial Times newspaper said that the government is also planning to confiscate the property of Russian figures loyal to the Moscow regime.
David Davis, a veteran MP in Johnson’s Conservative Party, said the sale should be blocked until Abramovich established the source of his fortune.
“We must do everything we can to prevent him from selling his UK property,” Davies said on Twitter.
Abramovich said the decision to sell was very difficult. “I hope to be able to visit Stamford Bridge for the last time and say goodbye to all of you in person,” he added.
Abramovich turned his back on life in London in 2018, when the British government delayed renewing his visa following the attempted assassination of a former Russian double agent in England, which Moscow blamed.
“It has been an honor for my life to be a part of Chelsea and proud of all our joint accomplishments,” Abramovich said in a statement of the club’s offer to sell the club. Chelsea Football Club and its fans will always be in my heart.”
glory maker
Abramovich is seen as the glory maker of Chelsea, the Londoner who won the English Premier League title only once before the Russian monarchy, in 1955, and when Abramovich bought the club in 2003 and after pumping millions on expensive contracts, the “Blues” became elsewhere, a hero The latest version of the European Champions League.
Chelsea won the Premier League title after Abramovich in 2005, and has added four more titles in the “Premier League” since then, the last of which was in 2017.
The record of titles under Abramovich includes 18 titles in 19 years, including two European Champions League titles, and the Club World Cup title, whose last edition was held in Abu Dhabi last February.
Abramovich rarely speaks in public, but did give an interview to Forbes last year, in part explaining why he bought Chelsea in 2003 for £140m.
“At that time, I attended football matches, saw the game as great and wanted to be a part of it one way or another,” Abramovich was quoted as telling Forbes.
There is also something else in the sport that has caught the attention of the Russian billionaire. “The fact that there is no set formula to win, the coach and his team have to take into account many factors when approaching every match, it feels like a challenge as you play every few days and it is a new test and is done Evaluate the work you have done.
“I really enjoyed it, and I still enjoy, the unpredictability and seeing how every game plays out.
Abramovich soon shared his enthusiasm through conversations with his staff and advisors, and soon this grew to the idea of owning a football club, which was Chelsea.
Chelsea was a historic club that had not changed owners much before it was sold to Abramovich. The purchase price was £140m, including £75m that went to pay off debts, which at the time was more than anyone would have paid for a Premier League club.
Abramovich ends the interview with Forbes as if reading his future, “Chelsea has a very big history, the club was before me, and it will be here after me.”