Official: Roman Abramovich confirms decision to sell Chelsea, reveals what he’ll do with sale proceeds

Chelsea owner Roman Abramovich has announced his decision to sell the West London club.

The 55-year-old, who has owned Chelsea since 2003, distanced himself from the club over the weekend by handing over his ‘stewardship and care’ to the trustees of Chelsea’s charitable Foundation.

The UK Government has faced calls to freeze Abramovich’s assets, as well as anyone who allegedly has ties with Vladimir Putin, as part of its sanctions against Russia.

The Russian billionaire said: “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.

“I have always taken decisions with the Club’s best interest at heart. I have taken the decision to SELL the Club”.

“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 added that net proceeds from the sale of the club will be donated to a foundation “for the benefit of all victims of the war in Ukraine”.

Swiss billionaire Hansjorg Wyss has claimed he has been offered the chance to buy the club.