Ahead of Chelsea's FA Cup tie with Luton, major news broke from West London. 19 years after buying the club, Russian billionaire Roman Abramovich will seek to sell Chelsea, as he continues to face scrutiny for his relationship with Russian president Vladimir Putin.
With Russia's invasion of Ukraine ongoing, Abramovich may face sanctions in the UK for his ties to the Kremlin, with Russian magnates coming under pressure from British MPs.
Roman Abramovich: Russian billionaire announces intention to sell Chelsea FC
Roman Abramovich released a statement on Chelsea's website on Wednesday evening, confirming his intention to sell the club. Abramovich bought Chelsea in 2003, and his ownership of the club has seen the Pensioners win five Premier League titles and two Champions Leagues.
Abramovich had already announced over the weekend that he would hand over "care and stewardship" of the club to trustees of Chelsea's charity foundation. Now, he has moved even further to sell the club entirely.
Abramovich's statement thanked fans for their support over his 19 years at the club, and he also revealed that he will waive any loans owed to him by the club - the Guardian report that these amount to £1.5 billion.
The Russian magnate also announced that all funds from the sale will go towards victims of the ongoing war in Ukraine. His statement in full read:
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.
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.
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.
Thank you,
Roman
Roman Abramovich's riches undoubtedly transformed Chelsea into a global power, but his links to the Kremlin have inevitably led to his departure. It remains to be seen what kind of sanctions he will face in the UK for his relationship with Putin.
It could be suggested the sale of the club is a preemptive move against such sanctions, as Abramovich seeks to clear his hands of any assets in the UK.
Speaking on the BBC before the game between Luton and Chelsea, Alan Shearer bemoaned the statement, and criticised Abramovich for his failure to condemn the invasion of Ukraine.
Micah Richards also commented on the statement from Abramovich, saying:
It's a better statement than Saturday. I was scratching my head at the statement when it came out. Today, there's a lot more clarity. I think he's done the right thing, but it's so sad that we're having to talk about this on a football night. All the scenes we've seen over the last few days are just heartbreaking. The sooner it can happen, the better.
Abramovich would depart Chelsea under a cloud, as the population of Ukraine continues to suffer amid the horrifying Russian invasion.
SEE ALSO: 'It Was Needed' Calvert-Lewin On Benitez Dismissal And Lampard's 'Aura'
