Russia-Ukraine War: Russian Oligarch Roman Abramovich Plans To Sell Chelsea As Pressure Grows

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Russian oligarch Roman Abramovich succumbed on Wednesday to growing pressure to sell English football club Chelsea over Russia’s invasion of Ukraine.

Abramovich issued a lengthy statement setting out his reasons. Although he did not call on Russia to stop its invasion of Ukraine, he said the proceeds from the sale would go to the victims of the war.

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“I would like to draw attention to the speculation in the media over the last few days about my ownership of Chelsea,” he said in a statement. “As I said, I have always made decisions with the best interests of the club. Therefore, in the current situation, I decided to sell the club, as I believe that it is in the best interests of the club, fans, employees, as well as sponsors and partners of the Club.

Chelsea football club owner Roman Abramovich is seen at the final football match of the UEFA Women’s Champions League in Gothenburg, Sweden, on 16 May 2021. (Associated Press / AP Newsroom)

“The sale of the club will not be quick, but a proper procedure will follow. I will not ask for any loans to repay. It was never about business or money for me, but about pure passion for the game and the club. I also instructed my team to set up a charity where all net sales proceeds would be donated. The foundation will benefit all victims of the war in Ukraine. This includes providing critical resources for the urgent and immediate needs of victims, as well as supporting long-term recovery work. “

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Abramovich, worth more than $ 13 billion, bought the club for more than $ 187 million in 2003.

Here are some more details about Abramovich.

Chelsea’s success

Chelsea players Romelu Lukaku, Mateo Kovacic, Cesar Aspilikueta, Callum Hudson-Odoi and Christian Pulisic celebrate after scoring a goal during the final match of the FIFA World Club Championship at the UAE 2021 between Cherasse and Palm on February 12, 20 Oak (Getty Images / Getty Images)

Abramovich’s money injection in Chelsea has led to many successes on the pitch since 2003.

The Blues have won five Premier League titles, five FA Cups, two Champions League titles, two Europa League titles and a 2021 World Club Championship victory.

Some of the star players who will play for the club during Abramovich’s term include Eden Hazard, Petr Cech, Frank Lampard, Christian Pulisic, Eidur Gudjohnsen and John Terry.

The wealth of Abramovich

Eclipse, the private luxury yacht of Russian billionaire Roman Abramovich, is anchored in Hisaronu Bay in the Marmaris district of Mugla, southwestern Turkey on October 19, 2015. (Getty Images / Getty Images)

According to Forbes, Abramovich owns stakes in Britain’s Evraz, a steelmaking company, and Russia’s Norilsk Nickel, a mining and smelting company. He also sold his 73% stake in Russia’s Sibneft to Gazprom in 2005 for $ 13 billion. He is also the founder of Millhouse Capital LLC, an investment firm.

Abramovich also owns one of the largest superyachts in the world. The Eclipse is 533 feet long, has two helipads, 1 mini submarine and three speedboats. According to the Sydney Morning Herald, it also has a missile detection system. It is reported that the yacht can accommodate up to 70 crew members and has 11 cabins.

Pressure racks

Chelsea FC owner Roman Abramovich sits in his box before their English Premier League football match against Sunderland at Stamford Bridge in London, 19 December 2015. (Associated Press / AP Newsroom)

British lawmakers opposed Abramovich.

While the Prime Minister of the United Kingdom Boris Johnson said that it would be “inappropriate” to comment on individual cases, the leader of the Labor Party Keir Starmer aimed at Abramovich.

“We need to confront Putin and those who support his regime,” Starmer said. “Roman Abramovich is the owner of Chelsea Football Club and various other high-value assets in the United Kingdom. He is a person of interest to the Home Office because of his ties to the Russian state and his public association with corruption and practices.”

Labor lawmaker Chris Bryant is using parliamentary privilege to say that Abramovich now wants to land other properties in London for fear of being sanctioned.

“The danger is that Mr Abramovich has sold everything until we get to his sanction,” Bryant said.

British commentator Pierce Morgan added: “Abramovich is selling Chelsea – but he has not yet said a word of condemnation for what his friend Putin did.”

Potential buyer

Swiss billionaire Hansjörg Vis told Swiss media that he had received an offer to buy Chelsea along with three others. Chelsea and Abramovich reportedly did not dispute the allegation.

“Abramovich is trying to sell all his villas in England, he also wants to get rid of Chelsea quickly,” Vis told Swiss Blick. “Abramovich wants too much right now.”

However, Wyss said he would like a group to help facilitate the purchase. Chelsea is estimated to cost about $ 3.34 billion.

Wysss is an 86-year-old billionaire. It is reported to cost about $ 5.1 billion, according to Forbes. He sold Synthes USA to Johnson & Johnson for nearly $ 20 billion.

Alleged ties to Putin

Russian President Vladimir Putin on the left spoke with Roman Abramovich, the governor of the Chukotka region, a millionaire and owner of the Chelsea football club, during their meeting in Moscow in an undated photo. (Getty Images / Getty Images)

Abramovich’s relationship with Putin has been highlighted several times over the past decade.

According to the book The Crisis of Russian Democracy: The Dual State, Factionalism, and Medvedev’s Legacy, Abramovich proposed to Boris Yeltsin that Putin succeed him as Russian president. He interviewed potential cabinet members before Putin signed them during his term as prime minister.

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In 2012, a judge at the London Supreme Court ruled that Abramovich had “very good relations” and “privileged access” to Putin, although he could not “pull the strings of the president.” Abramovich denied the allegation.

In 2020, a book published by HarperCollins suggests that Abramovich bought Chelsea on Putin’s orders. Abramovich won a lawsuit against the publisher and author and received an apology with the removed references, The Jerusalem Post reported.

The Associated Press contributed to this report.