The war between Russia and Ukraine: Russian oligarch Roman Abramovich will soon sell Chelsea as pressure builds

The war between Russia and Ukraine: Russian oligarch Roman Abramovich will soon sell Chelsea as pressure builds

Russian Oligarch Roman Abramovich fell victim on Wednesday to increasing demands to get rid of English football club Chelsea FC over Russia’s invasion of Ukraine.

Abramovich issued a long statement explaining his reasoning. While he’s not urged Russia to stop its military invasion of Ukraine He said that the profits of the sale would be used to help war victims.

“I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC,” the manager declared in an announcement. “As I’ve stated previously I have always made decisions that have the best interests of the Club’s interest in mind. In the present situation I have made the decision to sell the club, since I believe that this would be best in interests of the club, its supporters, employees and also the sponsors and partners of Chelsea FC.Chelsea FC.

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“The sale of the Club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and Club. Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of 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.”

Abramovich the billionaire who has more than $13 billion in assets, purchased the club for $187 million in 2003.

Here are a few additional details on Abramovich.

Chelsea’s triumph

The cash injection of Abramovich into Chelsea resulted in numerous wins in the football field from 2003.

The Blues have taken home the Blues five Premier League titles, five FA Cups, two Champions League titles Two Europa League titles and a Club World Cup win in 2021.

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A few of the most prominent players to join the club under Abramovich’s leadership include Eden Hazard, Petr Cech, Frank Lampard, Christian Pulisic, Eidur Gudjohnsen and John Terry.

The wealth of Abramovich

In the report by Forbes, Abramovich holds stakes in the UK’s Evraz which is a steel manufacturing and mining company – as well as the Russian company Norilsk Nickel – a mining and smelting business. He also sold his 73% stake of the Russian company Sibneft for $13 billion to Gazprom at the end of 2005, for $13 billion. In addition, he is the co-founder of Millhouse Capital LLC, an investment company.

Abramovich also has one of the largest superyachts. Its name is Eclipse. Eclipse measures 533 feet longand has 2 helicopter pad, one mini submarine, and three landing vessels. As per The Sydney Morning Herald, it also comes with an missile detection system. The vessel can accommodate up 70 crew members. It is equipped with 11 cabins.

Pressure rises

British lawmakers were strongly against Abramovich.

As U.K. Prime Minister Boris Johnson stated that it was “inappropriate” to comment on particular instances, Labour Party leader Keir Starmer blasted Abramovich.

“We must stand up to Putin and those who prop up his regime,” Starmer declared. “Roman Abramovich is the owner of Chelsea Football Club and various other high-value assets in the United Kingdom. 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.”

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Labour Party legislator Chris Bryant utilized parliamentary privilege to claim that Abramovich was looking to sell other London properties to avoid being banned.

“The danger is that Mr. Abramovich will have sold everything by the time we get round to sanctioning him,” Bryant stated.

British journalist Piers Morgan said: “Abramovich sells Chelsea – but still doesn’t say a single word of condemnation for what his mate Putin’s done.”

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