March 03, (THEWILL) – On Wednesday, Chelsea owner, Roman Abramovich, has formally declared his intention to sell the club.
In the statement making this official, Abramovich said: “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 Russian businessman’s decision comes in the midst of Russia’s invasion of Ukraine, which has reportedly killed over 2,000 civilians. The net earnings of the sale, according to Abramovich, will be transferred to a foundation that will help “all victims of the war 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.”
The 55-year-old billionaire agreed to engage in peace discussions between the two parties after receiving a request from Ukrainian officials.
He handed the Premier League club over to the trustees of Chelsea’s charity foundation on Saturday, as THEWILL reported. He is now preparing to sell, but warns that the process “will not be fast-tracked.”
Abramovich took charge at the London club in 2003 after buying it for £140m, although the club’s value has increased dramatically over the last two decades. Chelsea was valued at $3.2 billion by Forbes in 2021, tied for 25th place among all sports franchises worldwide. Over the last five years, its value has increased by 93 percent.
Abramovich is said to have informed potential buyers that the club is worth £3 billion.
Since Abramovich bought the club, it has enjoyed a lot of success, earning Champions League wins in 2012 and 2021, as well as clinching five Premier League crowns. Last month, the Blues won the Club World Cup, and they are still a strong candidate for the Champions League crown in 2022.
Abramovich Officially Puts Chelsea Up For Sale
By Jude Obafemi
On Wednesday, Chelsea owner, Roman Abramovich, has formally declared his intention to sell the club.
In the statement making this official, Abramovich said: “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 Russian businessman’s decision comes in the midst of Russia’s invasion of Ukraine, which has reportedly killed over 2,000 civilians. The net earnings of the sale, according to Abramovich, will be transferred to a foundation that will help “all victims of the war 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.”
The 55-year-old billionaire agreed to engage in peace discussions between the two parties after receiving a request from Ukrainian officials.
He handed the Premier League club over to the trustees of Chelsea’s charity foundation on Saturday, as THEWILL reported. He is now preparing to sell, but warns that the process “will not be fast-tracked.”
Abramovich took charge at the London club in 2003 after buying it for £140m, although the club’s value has increased dramatically over the last two decades. Chelsea was valued at $3.2 billion by Forbes in 2021, tied for 25th place among all sports franchises worldwide. Over the last five years, its value has increased by 93 percent.
Abramovich is said to have informed potential buyers that the club is worth £3 billion.
Since Abramovich bought the club, it has enjoyed a lot of success, earning Champions League wins in 2012 and 2021, as well as clinching five Premier League crowns. Last month, the Blues won the Club World Cup, and they are still a strong candidate for the Champions League crown in 2022.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
