Roman Abramovich, owner of London based Chelsea Football Club on Wednesday said he will sell the Premier League club amid Russia’s invasion of Ukraine.
The Russian billionaire said doing so is in the “best interest” of the Champions League holders if he parts since he bought over in 2003.
“As I have stated before, I have always taken decisions with the club’s best interest at heart,” Abramovich 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.”
Chelsea have won 19 major trophies in the Abramovich era, including their first two Champions League crowns and five Premier League titles.
But the 55-year-old’s reign will come to an end following the fall-out from the Russian invasion.
The British government have yet to order sanctions against Abramovich, who is said to be close to Russian President Vladimir Putin, but the Chelsea owner’s concern about potential seizing of assets is said to have sparked his move to off-load the Blues.
Swiss billionaire Hansjorg Wyss and USA investor Todd Boehly are reported to be two of the parties now preparing a joint bid for Chelsea.
