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Chelsea owner Roman Abramovich to sell the Premier League club

Since Abramovich's acquirement of the club in 2003, Chelsea has won 19 major trophies.

Roman Abramovich, the owner of Chelsea confirmed that he will be selling the Premier League club amid Russia’s attack on Ukraine. Abramovich confirmed the news on Wednesday.

The Russian billionaire believes it is in the best interest of the club if he part ways with Chelsea.

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,” Abramovich said in a statement that was released on the club’s official website.

He added, “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.”

Since Abramovich’s acquirement of the club in 2003, Chelsea has won 19 major trophies, which includes their first two Champions League titles and five Premier League victories.

The British government is yet to announce sanctions against Abramovich, who is said to be a close friend of Russian President Vladimir Putin. Following the sanction, the club could be seized as an asset and that is likely to be the reason to sell the renowned club.

The USA investor, Todd Boehly and Swiss billionaire Hansjorg Wyss are said to be the two of the parties to prepare a joint bid for Chelsea.

Abramovich also unveiled his intentions of donating profits of any sale to the war victims 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. 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.”

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