Russian-Israeli billionaire Roman Abramovich is selling his Chelsea FC Premier League soccer club, with the proceeds going to Ukraine war victims.
“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,” Abramovich said in a statement on Wednesday.
“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. 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. 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.”
“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. However, I do believe this is in the best interest of the Club,” Abramovich added.
“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart.”
Abramovich has been under intense media scrutiny in the U.K. after Russia invaded Ukraine on Feb. 24. Last week he issued a statement handing over stewardship of Chelsea to the club’s charitable foundation. However, the foundation’s trustees did not immediately agree to take control of the club.
Some Russian oligarchs have already been sanctioned in the U.K. with their assets frozen.
Subsequently, Abramovich also emerged as a figure trying to broker Russia-Ukraine peace.
