The sale of Chelsea Football Club is "in the greatest interest of the Club, the fans, the personnel, as well as the Club's sponsors and partners," according to Russian businessman Roman Abramovich.
The transaction "will not be expedited," according to Abramovich, but will follow "proper process." Last week, the billionaire announced that he had awarded the club's charity organization "stewardship."
Abramovich Puts Chelsea Football Club up For Sale
Chris Bryant, a British Member of Parliament, has demanded that Abramovich hand over control of Chelsea after receiving a leaked 2019 UK government document claiming Abramovich was of interest due to his "connection to the Russian state and his public affiliation with corrupt behavior and practices."
According to the sanctions list website, Abramovich has not been sanctioned by the United Kingdom. The billionaire insists that he is not a Russian official politician.
Abramovich stated in a statement on Wednesday that the sale's net revenues will be donated to a charity set up to benefit individuals affected by Russia's invasion of Ukraine, CNN reported
The astonishing revelation came only hours after UK Prime Minister Boris Johnson was grilled about why Abramovich has not been sanctioned. The United Kingdom, on the other hand, In reaction to Russia's invasion of Ukraine, the US has sanctioned more than 100 Russian persons and businesses, but Abramovich, 55, has stayed off the list.
Last Monday, Chris Bryant, a member of the opposition Labor Party in the United Kingdom, said in the House of Commons that Abramovich should not be permitted to control an English football team. He then stated that the billionaire is selling the squad as well as his London mansions a few days later.
Suitors for Chelsea have been on high alert over the possibility of selling the valuable English football club since last week, according to persons familiar with the situation. On Tuesday, Hansjoerg Wyss, a Swiss businessman, announced that he and three other possible purchasers received an offer to acquire Chelsea. The Raine Group, Abramovich's advisors, are looking for bids of at least 3 billion pounds ($4 billion) for the club.
Dividends and sales of privatized assets obtained from the old Soviet Union, such as oil business Sibneft and Aeroflot, made Abramovich wealthy. He was formerly Russia's wealthiest man and the governor of the Chukotka region, a frozen peninsula located across the Bering Straits from Alaska.
In 2003, he purchased Chelsea and invested enough money in the squad to transform it into a perennial champion. Abramovich was frequently visible at Stamford Bridge, and he was ready to dismiss managers who failed to provide consistent results. Chelsea won five Premier League titles and two European Champions League crowns during his ownership, including last year, according to Bloomberg via MSN.
Roman Abramovich, Vladimir Putin's Ties
Abramovich's vast fortune stems from his engagement in the Russian oil and metals sectors, particularly his purchase of a formerly state-owned oil business during Russia's mid-to-late 1990s privatization boom.
As he was with former Russian President Boris Yeltsin, he is close to Russian President Vladimir Putin. Although he was listed on the so-called Putin's list of Russian officials and oligarchs prepared by the US in 2018, he is not one of the few Russian oligarchs presently sanctioned by the US. Department of the Treasury
The British government, on the other hand, has been pressed to take tougher measures against billionaires like Abramovich. The United Kingdom is a European nation that has long been a shelter for wealthy Russians seeking to hide their wealth in shell companies and multimillion-dollar London villas.
In recent days, British MPs have sought to tighten foreign investment restrictions and recover assets bought with ill-gotten gains. The Conservative Party of Prime Minister Boris Johnson has been criticized for accepting political payments from Russian investors.
Chelsea has had tremendous success under Abramovich, winning the Premier League five times, the FA Cup five times, and the Champions League twice. According to a Forbes estimate from last year, the club is now worth more than $3 billion. Abramovich has set a Friday deadline for opening proposals and is said to be seeking at least $2.5 billion.
Abramovich was instrumental in establishing the idea of foreign billionaires owning Premier League clubs. Megarich investors from the United States, the United Arab Emirates, China, Thailand, Egypt, and Iran are currently members of the club, as per NPR.
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