Izuchukwu Okosi
Russian billionaire Roman Abramovich categorically revealed in a statement on Wednesday evening that he will be selling his English soccer team Chelsea FC, and will donate all net proceeds to victims of Russia’s war in Ukraine, with the British government moving to sanction Russian billionaires.
Join our WhatsApp ChannelAbramovich also revealed in his statement he will not request for any loans to be repaid, appearing to allude to a $2 billion loan he lent the club over his ownership in 2003.
Abramovich’s trophy asset made him a high-profile target for politicians demanding he be included among wealthy and influential Russians hit with British sanctions after a week of Russia´s war on Ukraine.
“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 in a statement. “However, I do believe this is in the best interest of the club,” Abramovich stated.
The Russian multi-billionaire’s startling decision is one of the most stunning business repercussions of President Vladimir Putin’s decision to invade Russia’s neighbor.
“The sale of the club will not be fast-tracked but will follow due process,” Abramovich’s statement added.
“I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated,” he said. “The foundation will be for the benefit of all victims of the war in Ukraine.”
“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person,” Abramovich said. “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.”
Wealthy American and Saudi Arabian billionaire business moguls have been touted to buy the clubs which has been put at £4 billion but could yet go for £3 billion.
Izuchukwu Okosi is a Nigerian sports and entertainment journalist with two decades of experience in the media industry having begun his media journey in 2002 as an intern at Mundial Sports International (MSI) and Africa Independent Television (AIT), owners of Daar Communications Plc.
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