One of the biggest impacts of Russia’s invasion of Ukraine was the announcement made by multi-billionaire and Chelsea FC owner Roman Abramovich, on Wednesday.
Roman Abramovich confirms exit from ownshership
The 55-year-old Russian oligarch, faced with mounting sanctions and pressure from the European sporting community, revealed, in a statement, his decision to place the 2020/2021 Champions League winners up for sale, for a reported £3 billion (est. R50 billion) asking price.
“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 noted.
The longtime owner of the West London football club confirmed the process would take time but would “follow due process.”
In a gobsmacking twist, Abramovich, who purchased Chelsea FC for a reported £140 million (est R2.8 billion in 2022) in 2003, added that all proceeds made from the sale of the club will be channelled towards a charitable foundation whose mandate will be “providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery [in Ukraine].”
“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,” he added.
Chelsea FC is for sale: Here’s who is interested so far
In the midst of mixed reactions to Abramovich’s decision, which may hold implications for Chelsea’s future, speculation has been rife on potential buyers.
Per The Sun, Jim Ratcliffe, United Kingdom’s wealthiest man alive, is reportedly front in line to clear the purchase of Chelsea FC.
It’s widely believed the 69-year-old will make a formal bid via his INEOS Group, which also owns Swiss football club Lausanne-Sport and French side Nice.
The sale may not be as simple for Ratcliffe, however, since reports suggest there are two other possible bidders in line, including Swiss billionaire Hansjorg Wyss who confirmed he was approached about the sale and indicated his interest.
Another possible challenger to Ratcliffe, according to the cited publication is Todd Boehly, co-owner of the Los Angeles Dodgers. The US billionaire, however, is believed to be part of a consortium, which includes Wyss, willing to make the purchase.
Abramovich has left the sale of Chelsea FC up to Raine Group, an American bank, to handle.
“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,” he said.