Chelsea Owner Roman Abramovich Announces Decision to Sell Club

The Russian oligarch said the move comes in “the best interest of the club, the fans, the employees, as well as the club’s sponsors and partners.”

Chelsea owner Roman Abramovich has announced his intention to sell the club amid external pressure regarding the war in Ukraine and the threat of sanctions from the British government. 

The Russian oligarch bought Chelsea for nearly $190 million in 2003 and has reportedly turned down offers of £2.2 billion ($2.9 billion) for the club in the past. 

“I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC,” Abramovich said in a statement. ”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. 

“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.”

While he did not mention Russia explicitly in his statement, Abramovich said that he will establish a charitable foundation that will benefit “all victims of the war in Ukraine.”

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

With Abramovich as owner, Chelsea enjoyed its most successful stretch in club history with two Champions League titles, five Premier League trophies, five FA Cups, one FIFA Club World Cup, four Women's Super League titles and three Women's FA Cups. 

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