Chelsea FC's Russian owner Roman Abramovich says he will sell club to help Ukraine war victims
India Today
Roman Abramovich said on Wednesday he would sell Chelsea Football Club, 19 years after buying it and setting the team on a path to sporting glory.
Chelsea FC owner, Russian businessman Roman Abramovich, said on Wednesday he would sell the football club, 19 years after buying it, and promised to donate money from the sale to help victims of the war in Ukraine.
The Russian owner said in a statement that a sale was in the best interests of the reigning European and world soccer champions.
"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," he said.
Abramovich said he would not ask for loans he has made to the Premier League club - reported to total 1.5 billion pounds ($2.0 billion) - to be repaid to him and the sale would not be fast-tracked.
He has told his aides to set up a charitable foundation that would receive all net proceeds from the sale.
"The foundation will be for the benefit of all victims of the war in Ukraine," Abramovich said in a statement.
"This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery."