The pressure is mounting on Roman Abramovich to sell Chelsea amid the Russian invasion of Ukraine. Many pundits and journalists in England have hit the billionaire due to his long-standing ties with Vladímir Putin.
With the English government set to freeze all assets of high net-worth Russians in England with any alleged ties to Vladimir Putin, Abramovich has no choice but to sell the club. As early as Saturday the Russian owner passed "stewardship and care" of Chelsea on to its trustees in an effort to distance the club from Abramovich and the pending asset freeze he may be subject to.
According to sources at ESPN the trustees are seeking legal advice given that a charitable foundation may not have the structure and legal right to run Chelsea. So, what is needed for Roman Abramovich to sell Chelsea? Here is what is known so far.
Roman Abramovich now intent on selling Chelsea
According to The Sun Roman Abramovich is looking to sell Chelsea for no less than 3 billion pounds. Abramovich bought the club in 2003 for 140 million pounds, under his ownership Chelsea has transformed into one of the most powerful brands in the world. In June of 2021 it was reported that Chelsea, the champions of Europe, are operating at a loss of 145.6 million pounds, and that the club is “reliant on Fordstam Limited for its continued financial support." Fordstam Limited, which Abramovich controls, is owed £1.514 billion in loans, this has raised many questions about money laundering through the club.
The Daily Mail has reported that Roman Abramovich is a large shareholder in a Russian steelmaking firm that makes materials used to build tanks that eventually invaded Ukraine.
At the moment all Abramovich needs to sell the club is a buyer and get back the money he is “owed”, American businessman Todd Boehly was interested in buying Chelsea, Sir Jim Ratcliffe, Britain's richest man has also expressed interest, and Hansjorg Wyss also is interested in buying the club.
