Chelsea FC's Russian Owner Roman Abramovich To Sell Club With Proceeds Going To Ukraine War Victims
Premier League: Roman Abramovich's concern about the potential seizing of assets might be the reason for him handing over Chelsea's reigns.
Roman Abramovich, the Russian owner of Chelsea football club, has decided to sell the Premier League club after he symbolically diminished his status as Chelsea owner after Russia's invasion of Ukraine.
Abramovich, on Wednesday, said that he had made the "incredibly difficult" decision to sell Chelsea football club, which he took over in 2003. He will be handing over the reins of the club to trustees of its charitable foundation
"I have always taken decisions with the club's best interest at heart," Abramovich said in a statement.
"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."
Chelsea won 19 trophies in the Abramovich era, which include two Champions League titles and five Premier League trophies. The 19 year-old reign will come to an end amid the Russian invasion of Ukraine.
Statement from Roman Abramovich.
— Chelsea FC (@ChelseaFC) March 2, 2022
Abramovich's company has not been named in the British sanction list targetting Russian businesses and pro-Kremlin business persons, but the 55-year-old's concern about the potential seizing of assets might be the reason for him handing over Chelsea's reigns.
"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," Abramovich said.
"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."
Chelsea manager Thomas Tuchel said that Abramovich made the "right decision"
"I think every decision he (Abramovich) takes is the right decision, it is his choice, his club, it is not on me to comment," Tuchel told the BBC.
"In the very short term for us as a team, staff and players, hopefully not too much, maybe even it will change nothing, but the situation is now out there and a big situation so I can understand lots of reports," he added.
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