Roman Abramovich to sell Chelsea football club

Roman Abramovich says he will sell Chelsea football club and donate any net proceeds to Ukrainian victims.

Chelsea owner Roman Abramovich.

One of football’s most famous owners, Roman Abramovich, says he will sell Chelsea football club and donate any net proceeds to Ukrainian victims of Russia’s invasion.

Dramatic confirmation of the club’s sale came just hours after British Tory politician and foreign affairs committee member Bob Seely denounced Russian oligarchs and their lawyers under parliamentary privilege.

“It is a very serious situation that our legal systems have become so corrupted,” Mr Seely said, claiming Russia’s oligarchs are abusing the UK’s legal system to silence the press.

Labour leader Sir Keir Starmer had directly targetted Mr Abramovich for criticism saying: “We must stand up to Putin and those who prop up his regime....

“(Abramovich) He’s a person of interest to the Home Office because of his links to the Russian state and his public association with corrupt activity and practices.

“Last week, the prime minister said that Abramovich is facing sanctions. He later corrected the record to say that he isn’t. Well, why on earth isn’t he?”

Russian oligarchs living and working in London have come under increasing pressure to renounce Mr Putin’s actions and the UK government has moved to freeze various assets and limit the movement of money to and from Russia.

Mr Abramovich, who was invited by Ukraine to help broker peace talks with Russian president Vladimir Putin said in a statement: “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 55-year-old has owned Chelsea since 2003 in that time the club was won 19 major trophies.

He said the decision to sell was “incredibly difficult’’, adding “it pains me to part with the club in this manner’’.

Statement from Roman Abramovich.

— Chelsea FC (@ChelseaFC) March 2, 2022

Mr Abramovich said the sale would not be a fire sale, and would follow due process.

He said he wouldn’t ask for any loans to be repaid and that the net proceeds will be donated to 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,’’ he said.

Speculation was swirling that Swiss billionaire Hansjorg Wyss and USA investor Todd Boehly would prepare a bid for the club.