Roman Abramovich: I am selling Chelsea

FT Desk

• Updated: 2 Mar 2022 12:53 CST
• 2 min read

Chelsea owner Roman Abramovich has confirmed that he is selling the west London club.

The billionaire has been under intense political pressure and threatened by the UK government due to his alleged connection to Russian president Vladimir Putin's regime.

Russia invaded Ukraine last week and the UK government has been subsequently cracking down on individuals and companies with alleged links to Putin.

Many oligarchs have been sanctioned and had their assets frozen and there has been calls for Abramovich to also be penalised.

Abramovich has decided, amidst these circumstances, that he is not best-placed to continue as the owner of one of football's elite clubs.

Abramovich has confirmed that he will be selling the club, addressing the Chelsea fans via a club statement on their official website.

''I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC," he said.

"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. 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.

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

''Thank you.

''Roman.''

The 55-year-old bought Chelsea in 2003 and has transformed the club into one of the world's biggest clubs.

Chelsea won 21 trophies during his 19 years at the club, including two Champions League titles and five Premier Leagues.

In fact, the Blues' recent Club World Cup success meant that they have won every available trophy in his tenure.