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Abramovich confirms Chelsea for sale, to donate proceeds to Ukraine war victims

The Citizen by The Citizen
March 3 2022
in Sport
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Abramovich confirms Chelsea for sale, to donate proceeds to Ukraine war victims

…Swiss billionaire mulls chance to buy

Chelsea owner Roman Abramovich said he would sell the club with the “net proceeds” going to benefit victims of the war in Ukraine.

The Russian billionaire, who took over in 2003, said money generated from his sale of the club will go to a foundation benefiting “all victims of the war in Ukraine”.

It is not clear if his reference to “all victims” means just Ukrainians, or Russians as well.

But, he said it “includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery”.

In a statement, published by the reigning European and world soccer champions on their website, he said: “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.”

Mr Abramovich said he would not ask for loans he has made to the club – reported to total £1.5bn – to be repaid to him, and said the sale would not be fast-tracked but would “follow due process”.

He said he had told his aides to set up a charitable foundation that would receive all net proceeds from the sale.

Mr Abramovich did not speak publicly about the invasion when it first began last Thursday. Over the weekend he said he wanted to entrust the “care and stewardship” of the club to the trustees of its charitable foundation.

He has put a £3bn price tag on Chelsea as he prepares to end his near-two decade ownership of the club.

It comes as Mr Abramovich – who has long-denied links to the Putin regime – is also reportedly putting his London property portfolio up for sale.

However, questions remain, about the viability of a transaction against the current geopolitical backdrop and Mr Abramovich faces the possibility of being sanctioned by the UK government after Russia’s invasion of Ukraine.

Mr Abramovich’s bankers are keen to complete a deal quickly and potentially as soon as May, according to one insider.

The issue of Mr Abramovich’s links to the Russian state was raised by Keir Starmer, the Labour leader, during prime minister’s questions on Wednesday, amid pressure for tougher sanctions against Russian oligarchs.

He has ploughed unprecedented amounts of money into the Stamford Bridge side and under his ownership, it has won the Champions League twice, the Premier League and FA Cup five times and a significant number of other trophies.

His statement concluded: “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.”

Ukrainian footballer trying to persuade family to leave Kyiv

It comes as Ukrainian football legend Andriy Shevchenko, who is currently in London, has been trying to persuade his mother and sister to leave the Ukrainian capital.

“I try to talk (to them) every hour, every 20 minutes because there’s a lot of action going on now.

“Cities under attack, missile attacks, Kyiv is under attack, a lot of cities it is very similar… My mum and my sister, like most of the Ukrainian people refuse to leave, are staying there to fight for our nation, to fight for our freedom, to fight for our soul”, he said.

“I tried many times (to get them to leave), but the answer is no, (they say) ‘we want to stay here’.”

“This is the Ukrainian spirit.”

Meanwhile, Hansjorg Wyss, one of Switzerland’s richest men, said Wednesday he had been offered the chance to buy Chelsea, with the English Premier League side’s Russian owner Roman Abramovich under growing scrutiny.

Wyss, 86 and founder of the medical device manufacturing firm Synthes, told the Swiss newspaper Blick that he had been sounded out on Tuesday, alongside three other people.

Abramovich has not been named on a growing British sanctions list targeting Russian banks, businesses and pro-Kremlin tycoons.

But British Prime Minister Boris Johnson has been pressed on why Abramovich has not been cited, given his familiarity with Russian President Vladimir Putin.

“Abramovich is among Putin’s closest advisers and friends,” Wyss told Blick.

“Like all the other oligarchs, he is panicked. Abramovich is currently trying to sell all his villas in England. He also wants to get rid of Chelsea quickly. Along with three other people, I received an offer on Tuesday to buy Chelsea from Abramovich.

“I have to wait four or five days. Abramovich is asking too much right now. Chelsea owes him £2 billion. But Chelsea has no money. This means that those who buy Chelsea must compensate Abramovich.

“We do not yet know the exact sale price. I can very well imagine myself joining Chelsea with partners. First I have to look carefully at the conditions. But what I can already tell you: I certainly wouldn’t do such a thing alone. If I buy Chelsea, it will be with a consortium of six to seven investors.”

Contacted in London, Chelsea refused to comment, while a spokeswoman for Abramovich did not immediately respond.

Johnson was asked in Warsaw on Tuesday why Abramovich has not been personally sanctioned by the British government, as several UK lawmakers have demanded.

Johnson did not refer to the Chelsea owner directly in his answer, but said Britain would be “tightening the economic noose” further around the Russian regime. – BBC, AFP.

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