Roman Abramovich confirms Chelsea is up for sale; triggers mixed emotions
By Team Newsable | First Published Mar 3, 2022, 7:54 AM ISTChelsea have won 19 major trophies in the Abramovich era, including their first two Champions League crowns and five Premier League titles.
Russian-Israeli billionaire Roman Abramovich on Wednesday confirmed he would sell his Premier League club, Chelsea, 19 years after buying the west London side and promised to donate money from the sale to help victims of the war in Ukraine.
Amid calls for Abramovich to be hit by sanctions after Russia invaded Ukraine, the 55-year-old metals magnate said in a statement that a sale was in the best interests of the reigning European and world football champions.
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Abramovich has decided it is in the "best interest" of the Champions League holders if he parts ways with the club he has transformed since his purchase in 2003.
Statement from Roman Abramovich.
— Chelsea FC (@ChelseaFC)"As I have stated before, I have always taken decisions with the club's best interest at heart," Abramovich said in a statement.
"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," he added.
The Russian billionaire said he would not ask for loans he has made to the club – reported to total 1.5 billion pounds – to be repaid to him, and the sale would not be fast-tracked.
Abramovich, who made a rare appearance to watch Chelsea win the Club World Cup in Abu Dhabi recently, also said he had told his aides to set up a charitable foundation that would receive all net proceeds from the sale.
"I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated," he said in his statement on Chelsea's website.
"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," he concluded.
Also read: Meet Hansjorg Wyss, the Swiss billionaire who may be Chelsea's new owner
Chelsea has won 19 major trophies in the Abramovich era, including their first two Champions League crowns and five Premier League titles. But the 55-year-old's reign has now come to an end following the fall-out from the Russian invasion.
The UK government has yet to order sanctions against the Russian businessman, who is close to President Vladimir Putin. Still, Abramovich's concern about the potential seizing of assets is said to have sparked his move to off-load the Blues.
Swiss billionaire Hansjorg Wyss and USA investor Todd Boehly are two parties now reportedly preparing a joint bid for Chelsea.
Also read: Russia-Ukraine crisis: Abramovich hands Chelsea 'stewardship' to charitable foundation
Following Abramovich's official statement, Chelsea and football fans took to Twitter to express their opinion on this decision. Here's a look at some of the reactions:
Imagine being owed £1.5bn, people don’t realised how much money that is, could last generations. Roman Abramovic told Chelsea “you can keep it”… unbelievable.
— Mod (@CFCMod_)There will never be another club owner like Roman Abramovic in football history pic.twitter.com/dYb68uURrp
— joram jose (@JoramJose3)19years. 21 major trophies won 🥇 if this is the end, THANK YOU 🙏🏽 ROMAN ABRAMOVIC💙 pic.twitter.com/OCcbbVCHH9
— KAI HAVERTZ (@kai_havertz28)Roman Abramovic has put Chelsea up for sale for the "best interest of the club".
Hoping our Russian owners — Avram and Joel Yuri Usmanov Glazer — do the same for Man Utd.
I wish for a massive U-turn Roman Abramovic don't sell this club.
You own it.
The club have your DNA. pic.twitter.com/n2TDqJywTO
‘The Roman Abramovic stand’ 🙏🏻 pic.twitter.com/p5Z5Or8a0e
— Benji🏴🇹🇷 (@benji_harper17)Thank you, Roman Abramovic. pic.twitter.com/HO3H1lwVNR
— Thierry Nyann (@nyannthierry)19years, 21 trophies. Thank you for everything, Roman Abramovic 💙 pic.twitter.com/EZKOlXL3UE
— 𝔅𝔯𝔬𝔴𝔫✨ (@DoctourBrown)Roman Abramovic said it’s not really about the money. Whoever is going to be the next owner of Chelsea will be critically examined because it’s very obvious he still loves the club and will want the club to get owners who also share the same passion as him.
— KALYJAY (@gyaigyimii)So Roman Abramovic has put Chelsea up for sale, he’s righting off the £1.5bn the club owes him & the rest of the money from the sale is going to a foundation for the Ukrainian victims! & you think he’s the enemy? 🤦♂️
— We Know What We Are ⭐️⭐️ (@mickytrublu)If this is the end💙Thank you Roman Abramovic💙 Thank you for Loving Chelsea football club 💙
We as fan's would never forget the good work you did at Chelsea 😭 pic.twitter.com/W5LjtJx6He
Roman Abramovic is selling Chelsea. His decision not to take money that he loaned the club from the sale of one of the world's best football brands is unbelievable. Instead, he will establish a foundation to help war victims in Ukraine. He was the best owner in sports! A sad end.
— Yohannes Gedamu (@yohanethio)Is Roman Abramovic responsible for Russians attack on Ukraine?
Why can’t they attack Putin his armies and stop the innocent souls they are hurting
Roman Abramovic is not a bad man after all, is he?
Imagine forfeiting the 1.5B Chelsea owes him
He also said the money from selling Chelsea which is worth about 4B will be donated to the victims of Ukraine War.
Such a man can't be a bad man. Never!!!
Roman Abramovic is selling Chelsea and all proceeds is going to Ukraine war victims??? Oh he’s also writing off all Chelsea’s debts due to him.
What a man…Amidst all the hatred from UK politicians.
Confirmed, Roman Abramovic has announced that all net proceedings from the sale of Chelsea football club will be donated to the war victims of the Russian invasion of Ukraine. All loans the club owes Abramovic have been dropped. What a man he is and dosent deserve this. pic.twitter.com/7DN1HwFn3v
— Football Merchant News (@FootbalMerchant)roman abramović left chelsea during ukraine - russia conflict but no usa owner left their club while united s**t of américa are bombing syria, iran, iraq, libya, somalia and all for oil and greed ☠️ https://t.co/hfr6chjoDT
— €² (parte médico man) (@enoch_esquare)What? Roman Abramovic has apparently claimed that he is going to donate all the net proceeds from the sale of Chelsea football club to Ukraine refugees.
Exactly how much did he steal from Russian citizens if he can give up £3 BILLION just like that?
This one Roman Abramovic is selling Chelsea to lend support to Ukraine, I wonder what will become of the club in the post apocalyptic Abromovic era? 🤔
Chelsea fans have every right to be worried.
Back to the dark ages????
Abramovich, who also has Israeli and Portuguese citizenship, became one of Russia's most influential businessmen by earning fabulous fortunes after the 1991 breakup of the Soviet Union. Forbes has put his net worth at 13.3 billion dollars.
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