TF Daily Feed: Russian Oligarch Roman Abramovich Forced to Sell Chelsea Football Club

Billionaire, businessman and club owner Roman Abramovich announced on 2 March 2022, that he was selling his English Premier League Chelsea F.C, which he purchased in 2003.

Due to the ongoing Russian invasion of Ukraine, nations all across the world are imposing a number of economic and financial sanctions on Russia, its banks, and its businesses. Russian Oligarch Roman Abramovich has decided to sell Chelsea Football Club in the club’s best interests. Abramovich is said to have a close relationship with Russian President Vladimir Putin, in addition to his ties to the Kremlin. He vowed to give the proceeds from the sale to Ukrainian conflict victims.

Arguably one of London’s biggest clubs, Chelsea saw a complete turnaround in fortune since his purchase. He brought in world-class football players and managers, and lead Chelsea to several championships. When Chelsea was hit with a two-year transfer ban in 2019, he switched his focus to the youth system. He is a fan favorite and has attended many of Chelsea’s football matches. 

Having success in domestic and international tournaments, the club men’s has won every trophy, including the Champions League and the Premier League. Notable players signed during his era are Claude Makélélé, Petr Čech, Didier Drogba, Ashley Cole, and Eden Hazard. Chelsea’s women’s squad, on the other hand, had become the first English women’s team to win the domestic quadruple in their 2020 – 2021 campaign.

In an official statement released by the club, Roman mentions, “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.”

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Feature Image Via CNN.

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