Russian oligarch Abramovich to sell soccer club Chelsea

• Net proceeds from the sale of the club to be used to “benefit all victims of the war in Ukraine”

• Abramovich bought London-based Chelsea in 2003

Russian oligarch Roman Abramovich said on Wednesday that he will sell the Chelsea soccer club in England amid Russia’s invasion of Ukraine.

Abramovich also said a foundation will be set up to use all net proceeds from the sale of the club to “benefit all victims of the war in Ukraine.”

“As I have stated before, I have always taken decisions with the Club’s best interest at heart,” Abramovich said in a statement. 

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“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.”

“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner,” he added.

After calls of Abramovich’s sanctions from the U.K., he had said that he was transferring stewardship of the club to the trustees of a charitable foundation.

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A Ukrainian advocate, Daria Kaleniuk, executive director of the Anti-Corruption Action Center, told UK President Boris Johnson, “You’re talking about more sanctions, prime minister. But Roman Abramovich is not sanctioned. He is in London. His children are not in the bombardments. His children are there, in London.”

Abramovich bought London-based Chelsea, which is currently in third place in the Premier League, behind the leader Manchester City and Liverpool, in 2003.

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