Chelsea owner Roman Abramovich confirms that the club is up for sale

Chelsea owner Roman Abramovich has confirmed that he is selling the club.

The Russian billionaire arrived in the English capital in 2003 and Chelsea have won five Premier Leagues and two Champions Leagues under his ownership.

Conor McGregor has already hinted he could make a bid for the club while Swiss billionaire Hansjorg Wyss has revealed he's been offered the chance to purchase the Blues as part of a consortium.

READ MORE: Swiss billionaire offered to buy Chelsea by Roman Abramovich in seismic Premier League twist

In a statement on Chelsea's official website, Abramovich 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.

"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."

He continued: "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