Chelsea's billionaire Russian owner is reportedly looking to quickly sell the club to avoid financial sanctions

[Rogue Valley]

Chelsea's billionaire Russian owner is reportedly looking to quickly sell the club to avoid financial sanctions

3.2.22
Roman Abramovich, the billionaire Russian owner of English Premier League team Chelsea FC, is looking to rapidly sell the football club to avoid financial sanctions following Russia's invasion of Ukraine. That's according to Swiss billionaire Hansjorg Wyss, who told Swiss newspaper Blick that he and three others have been approached to buy the club, which is valued at around $2.1 billion. "Abramovich is trying to sell all his villas in England, he also wants to get rid of Chelsea quickly," said the 86-year-old. "I and three other people received an offer on Tuesday to buy Chelsea from Abramovich." Wyss, the founder of medical device manufacturer Synthes USA, admitted he was interested in purchasing the London club as part of a consortium, but that Abramovich's current asking price is too high. "I have to wait four to five days now. Abramovich is currently asking far too much," he said. "You know, Chelsea owe him £2 billion ($2.7 billion). But Chelsea has no money." "As of today, we don't know the exact selling price."

Chris Bryant, the Labour MP and head of the parliamentary standards committee, said Tuesday that the UK government was moving too slowly on imposing sanctions on Abramovich and that the delay will allow him time to offload his UK assets before they he faces any financial punishments. "I think [Abramovich] is terrified of being sanctioned, which is why he's already going to sell his home tomorrow, and sell another flat as well," Bryant told the Commons. "My anxiety is that we're taking too long about these things." Chelsea FC declined to comment.

He'll probably escape a financial drubbing at the hands of the British government. Abramovich was the first person to recommend to Yeltsin that Vladimir Putin be his successor as Russian president. Abramovich vetted each candidate for Putin's intiial Cabinet. Abramovich supposedly assists Putin in hiding/masking his embezzled wealth. He was named in the US government's CAATSA Act and is one of the Navalny 35.

 

[Rexedgar]

Saudi Arabia just bought Newcastle, they have the loose change.

 

[bluesmoke]

Saudi Arabia just bought Newcastle, they have the loose change.

It's more like ice cream money to Abramovich.

 

[phoenix2020]

Not sure how this works. If we're blocking any financial transactions with Abramovich, then does that not mean he can only sell the club to a party that is ignoring western sanctions e.g. someone like China who can actually pay him? Would someone help me fill in the gap here - I must be missing something.

 

[joluoto]

Why isn't he under sanctions? Sanction all the Oligarchs, they are all in league with Putin.

 

[Arkantos]

Official now.

https://www.chelseafc.com/en/news/2...source=tw&utm_medium=orgsoc&utm_campaign=none

I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC. As I have stated before, I have always taken decisions with the Club’s best interest at heart. In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.
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. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.

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.

I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart.

Thank you,

Roman

 

[Rexedgar]

Transaction must be in roubles!

 

[Rich2018]

He might have to cut his £3 billion asking price for a quick sale, or lose Chelsea for nothing.

 

[Manc Skipper]

Why isn't he under sanctions? Sanction all the Oligarchs, they are all in league with Putin.

Johnson is sanctioning them at glacial speed. The Tory party is funded by them. It'll be some weeks before the arrangments are in place, plenty of time to move their laundered money elsewhere. AFC Bournemouth's Russian owner Maxim Demin has escaped sanctions thus far. Maybe he's not a big enough fish. Or donated more.

 

[PeteEU]

Why isn't he under sanctions? Sanction all the Oligarchs, they are all in league with Putin.

Because the UK is not doing anything really... lots of hot air, but no real action.

 

[Rich2018]

Because the UK is not doing anything really... lots of hot air, but no real action.

Oh and what more is Spain, or anyone, doing ?

 

[reinaert]

I'm glad the Reds are merely owned by a filthy Bostonian.

 

[Manc Skipper]

Because the UK is not doing anything really... lots of hot air, but no real action.

It's worse than that. Ukraine flag projected on Downing street walls, while turning refugees away claiming we've done more than anyone.

 

[phoenix2020]

Official now.

https://www.chelseafc.com/en/news/2...source=tw&utm_medium=orgsoc&utm_campaign=none

I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC. As I have stated before, I have always taken decisions with the Club’s best interest at heart. In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.
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. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.

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.

I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart.

Thank you,

Roman

Well, as press releases go, that was a well crafted one.

FWIW he brought the club for $188M in 2003 so I'm curious what they'll use to value 'net proceeds' - if the donation is the sale price minus $188M then given inflation etc. that's generous and I'll offer props for the gesture. If his team fibs e.g. 'net proceeds = additional income above what they believe is the present day value of the club' then, well, he can go punch a wall.

 

[Manc Skipper]

Oh and what more is Spain, or anyone, doing ?

 

[PeteEU]

Oh and what more is Spain, or anyone, doing ?

Dont know really, but they are most likely following the EU. Oligarchs dont own much in Spain as far as I know, but the Russian mob do. As of yet, no country has started seizing Russian citizen assets, but if that happens, then there are a large number of Russian (mob) owned mega mansions here. Problem is, that one of the bigger organised crime gangs on the Costa del Sol is.... Ukrainian and they are at present in a gang war with... drum roll... the biggest gang which is British. Yes it is a strange underworld here.