May 27, 2022

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Russian oligarch Roman Abramovich to sell Chelsea amid Ukraine war

Russian oligarch Roman Abramovich to sell Chelsea amid Ukraine war

Roman Abramovich, owner of Chelsea FC, smiles after his team’s victory during the UEFA Champions League Final between Manchester City and Chelsea at Estadio do Dragao on May 29, 2021 in Porto, Portugal.

Alexander Hassenstein | UEFA | Getty Images

Russian oligarch Roman Abramovich He said on Wednesday he would sell Chelsea Football Club In England, a dramatic move came in response to outrage over the Russian invasion of Ukraine.

Abramovich at the same time announced that he had instructed the famous team to create a foundation that would use all the net proceeds from the sale of Chelsea “for the benefit of all victims of the war in Ukraine”.

In a statement, Abramovich said: “As I have stated before, I have always made decisions with the club’s best interests at heart. In the current situation, I have made the decision to sell the club, as I believe this is in the best interests of the club, the fans, the staff, the club’s sponsors and its partners.”

The announcement of the sale came less than a week after the billionaire said he had transferred oversight of the club to trustees of a charity, and following calls that Abramovich faced sanctions from the United Kingdom.

Abramovich bought Chelsea FC, which is based in London, in 2003. During his tenure, Chelsea won the season’s titles in the English Premier League, five times, and won the prestigious FA Cup as many times. Chelsea are currently third in the Premier League, behind leaders Manchester City and Liverpool.

Earlier Wednesday, the Biden administration said it was forming a new task force To impose US and allies sanctions on Russian officials and oligarchs who aided in the war in Ukraine, launched by President Vladimir Putin.

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