Roman Abramovich Bows to Public Pressure and is Selling Chelsea FC
The billionaire announced that he would relinquish full ownership of the team
Russian billionaire and the owner of Chelsea FC, Roman Abramovich, has stated that he is selling the football club. This move comes shortly after he faced public pressure when Russia invaded Ukraine. Abramovich is believed to have close ties with Russian President Vladimir Putin, who initiated the attack.
Abramovich had previously stated that he has handed over the football club’s ‘stewardship and care’ to Chelsea’s charitable foundation’s trustees. He said that the move would be in the ‘best interests of the club and added that he would donate all the net profit from the sale of the club to a newly-formed charitable foundation for the benefit of all victims of the war in Ukraine.’
Roman Abramovich is selling Chelsea FC
In a statement, 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.”
As the UK has penalised several wealthy Russians in response to the attack on Ukraine, Abramovich’s future at the Club became murky. Highlighting that the sale of Chelsea FC will be according to due process, he stated, “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.”
He added, “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 has 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.”
Abramovich took over Chelsea FC in 2003, and since then, the Club has won 21 trophies under 15 managers. It currently has the third spot in the Premier League.
In addition to the sale of Chelsea FC, the Russia-Ukraine war has also led to many other changes. Last week, Manchester United ended its sponsored deal with Russia’s national airline, Aeroflot. Also, Everton FC suspended sponsorship deals with Russian businesses Yota and Megafon. Even EA Sports has decided not to feature any Russian clubs or the National Team in its latest edition of the ultra-popular franchise. It also plans to remove Russian teams from NHL 22.
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