Russia-Ukraine Crisis Forcing Roman Abramovich to Sell Chelsea?

Russian Roman Abramovich had bought Chelsea in 2003 for GBP 140 million.

Roman Abramovich is said to be mediating talks between Ukraine and Russia. 

(Photo: IANS)

English football club Chelsea, who won the UEFA Men’s Champions League last season, is up for sale. Russian owner Roman Abramovich is willing to listen to offers as pressure grows against his ownership of the club in the aftermath of Vladimir Putin’s attack on Ukraine.

According to ESPN, Abramovich is seriously considering selling Chelsea with the UK government under pressure to freeze the assets of high-net worth Russian citizens who live in England and have links to Putin.

Swiss business tycoon Hansjoerg Wyss has reportedly claimed that Abramovich contacted interested parties on Tuesday to test the waters.

"Abramovich is currently trying to sell all his villas in England. He also wants to get rid of Chelsea quickly now. I, along with three other people, received an offer on Tuesday to buy Chelsea from Abramovich," Swiss newspaper Blick quoted Wyss as saying in an interview published on Wednesday.

Wyss added: "Abramovich is asking for far too much at the moment. You know: Chelsea owes him GBP 2bn. But Chelsea has no money. Meaning: those who buy Chelsea should compensate Abramovich."

The report further noted that the Russian had told buyers in the past that he valued the club at GBP 3 billion. According to the Daily Mail, Abramovich is also trying sell his lot of properties in London.

A few days ago, Abramovich tried to distance himself from the club in a bid to save it from possible sanctions and passed on its care and stewardship to the trustees of Chelsea. After that, reports suggested Abramovich was even involved in looking to resolve the Russia-Ukraine crisis.

Abramovich has repeatedly denied any ties with the Putin regime and the club have maintained that they’re not up for sale.

The report further noted that, if the Boris Johnson government did punish the Russian billionaire, Chelsea as one of his assets would face repercussions. The asset would be frozen and as a result Abramovich would not be able to sell or inject any money into the club, which would then affect the club majorly.

Abramovich had bought Chelsea in 2003 for GBP 140 million. The club's latest accounts show he is owed GBP 1.514 billion in loans through parent company Fordstam Limited, which he controls.