Russian billionaire Roman Abramovich says he will sell English soccer team Chelsea
Abramovich, 55, was under growing pressure to sell because of his reported ties to Russian President Vladimir Putin.
Russian oligarch Roman Abramovich said Wednesday that he will sell Premier League soccer club Chelsea, the latest fallout in the sports world from Russia’s invasion of Ukraine.
"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," Abramovich said in a statement issued by the west London organization.
"Please know that this has been an incredibly difficult decision to make," he added, "and it pains me to part with the club in this manner."
Abramovich, 55, was under growing pressure to sell because of his reported ties to Russian President Vladimir Putin. On Sunday, Abramovich had handed "stewardship and care" of Chelsea to the club's charitable foundation.
Within 72 hours, though, he decided to sell a club that he had purchased in 2003 for about $185 million and is now worth an estimated $3.2 billion.
Earlier on Wednesday, billionaire Hansjorg Wyss told Swiss newspaper Blick he had been offered the chance to buy the club. Wyss said Abramovich wanted to sell to avoid government sanctions.
Under his direction, the Blues have won five Premier League trophies, five FA Cups and the 2012 and 2021 UEFA Champions League titles, the biggest prize in global club soccer. American attacker Christian Pulisic is among Chelsea's top players.
In his statement, Abramovich said he has established a foundation in which net proceeds from the sale of the team will benefit 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."
Abramovich said he would not ask for loans to be repaid.
"This has never been about business nor money for me," he said, "but about pure passion for the game and club."
In recent days, British Prime Minister Boris Johnson has been repeatedly questioned about Abramovich. When Johnson announced the U.K.'s initial round of sanctions, he told Parliament he thought Abramovich had been sanctioned previously. The prime minister was wrong and later had to correct the record.
During a question-and-answer session Wednesday, Keir Starmer, the opposition Labour Party leader Keir Starmer, "why on earth" the Chelsea owner wasn't on the sanctions list.
Johnson responded: "It's not appropriate for me to comment on individual cases at this stage" but he added the government would soon publish a "full list" of those associated with the Putin regime.
During Johnson's visit to Poland on Tuesday, a Ukrainian activist confronted him over the matter.
"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," Daria Kaleniuk said. The exchange went viral.
Johnson has pledged to crack down on "dirty money" in Britain. The British government has frozen assets and imposed a travel ban on nine prominent oligarchs and around 130 companies, and say there's more to come.
Chris Bryant of the Labour Party claimed, in Parliament, that Abramovich is selling off his British assets, including his properties, because he is "terrified of being sanctioned."
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Thd Washington Post’s Karla Adam contributed to this report.