After coming under pressure after Russia’s invasion of Ukraine, the billionaire Russian oligarch Roman Abramovich said he will sell Chelsea – the Premier League …
After coming under pressure after Russia’s invasion of Ukraine, the billionaire Russian oligarch Roman Abramovich said he will sell Chelsea – the Premier League team that was transformed into one of the world’s top soccer clubs under his ownership. “Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. However, I do believe this is in the best interest of the Club,” Abramovich said in a statement released by the team Wednesday. The club will set up a charitable foundation, which will use the net proceeds of the sale to benefit “all victims” of the war in Ukraine, he said. “This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery,” the statement read. Abramovich’s massive fortune comes from his involvement in the Russian oil and metals industries, especially his acquisition of a formerly state-owned oil company during the wave of privatization in Russia in the mid-1990s.
