March 02, (THEWILL) – Russian owner of Chelsea FC, Roman Abramovich, has reportedly put the club up for sale as the UK government prepares to impose sanctions in response to Russia’s invasion of Ukraine.
Abramovich is said to have tight ties to Moscow and President Vladimir Putin, who recently sent soldiers into Ukraine.
Although the club had previously stated that it was not for sale, it was revealed on Tuesday that Abramovich’s stance may have shifted due to the escalating conflict and calls for him to be sanctioned by the government, and now, it is reported that the Russian has placed Chelsea on the market.
Potential purchasers are said to have been approached by a US-based merchant bank and told that Abramovich will seek £4 billion for his asset, though he may only obtain half that amount due to his weak bargaining position.
As THEWILL reported, Abramovich has already rejected proposals of £2.2 billion for the Stamford Bridge club, with a similar offer almost guaranteed to pay the club’s £1.51 billion debt to him.
An 86-year-old Swiss, Hansjorg Wyss, has claimed that he has been approached about owning the club, and British billionaire Sir Jim Ratcliffe is also interested, with the banker and industrialist open to the notion of purchasing a leading English football team.
At least three interested parties have been contacted, with the biggest bidders encouraged to be submitted by the end of this week as Abramovich tries to sell before any fines are imposed. It remains to be seen if the owner will be permitted to trade in the meantime if any punitive penalties are enforced. The 55-year-old is also rumoured to be trying to sell his west London house.
The owner attempted to disassociate himself from the football club by handing over stewardship to its charitable foundation, which is thought to have caught trustees off guard and caused several to reconsider their position in the foundation.
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.
