Chelsea’s Russian owner to sell the club

London: Roman Abramovich, the Russian owner of Chelsea Football Club, ended speculation about the club’s future with the announcement that he was putting the club, which he has owned for nearly twenty years, up for sale. The figure mentioned is £3bn and an interest has been shown by Swiss billionaire Hansjorg Wyss who considers the price too high.

He said: “Abramovich is currently asking far too much. I’m definitely not doing something like this alone. If I buy Chelsea, then it’s with a consortium consisting of six to seven investors.”

The news of sale is of enormous disappointment to the Chelsea fans who have seen their club lift 21 trophies during 19 momentous years of Abramovich’s ownership. The club have been European champions since last season and after winning the Club World Cup last month have the tag of World champions.

Abramovich said he had made the “incredible decision” (to sell) which “pains” him. He will be writing off £1.5bn loan that he has given to the club and the proceeds of the sale will be donated to war victims.

His statement said: 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. 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 the process. I will not be asking for any loans to be repaid. This has never been about business or 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 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’s 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.”