Roman Abramovich puts Chelsea up for sale, says proceeds will go to victims of war in Ukraine

Roman Abramovich has released a statement saying he has taken the decision to sell Chelsea FC. The Russian billionaire ushered in a new era for Chelsea and the Premier League when he bought the club in 2003. Ad/> But Abramovich’s ownership has come under scrutiny following Russia’s invasion of Ukraine.

The 55-year-old handed the “stewardship” of Chelsea to the club’s charitably foundation trustees last week. Premier LeagueSancho 'blessed' to be at Man Utd and 'learning' from Ronaldo, Pogba2 HOURS AGO “I would like to address the speculation in the media over the past few days in relation to my ownership of Chelsea FC,” began the statement. “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 statement also added that Abramovich would not ask for any loans to be repaid – in effect writing off £1.5 billion in debt – and that net proceeds of any sale would be donated to a charitable foundation that would be used to benefit “all victims of the war in Ukraine”. “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. «Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated.