Abramovich: Selling Chelsea is 'in the best interests of the club'
Roman Abramovich was until recently the active owner of Chelsea, and hiring and firing of Managers and buying high profile players was a trademark for him.
Image credit: PA Images Roman Abramovich has decided to sell ChelseaBut recently it was announced that Abramovich has decided to sell Chelsea FC, in the “best interests of the club.”
The Russian oligarch’s statement was uploaded on the official Chelsea blog, where he told fans that, as owner, he always makes decisions with the club’s best interests at heart.
This comes just a few days after Abramovich told the media that he wants to transfer the ‘stewardship and care’ of the club to Chelsea's charitable foundation.
However, the eyebrow-raising factor was the timing of the announcement, which coincides with the escalation of the Russia-Ukraine conflict and potential sanctions imposed on Russian oligarchs.
Abramovich, in his statement, said that the process won’t be fast-tracked and “will follow due process,” which he believes is in the best interest of the fans, employees and sponsors of the club.
What is the demand for Chelsea FC
Abramovich, in the same statement, clarified that he will not ask the club to repay any personal loans that he issued to them in almost two decades of ownership. Also, he will have his team set up a charitable foundation to send all the net proceeds to victims of the conflict in Ukraine.
“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.”
All of his words, however, come with a price tag. The current demand is at £3billion, with room to grow. Despite this, there are many potential bidders lined up to buy a share of the world and European champions.
Who is bidding for Chelsea FC
There are a number of credible bidders who could potentially end up as the new owner of the Blues.
According to ESPN, at least 10 credible entities have contacted Raine Group, who are responsible for the sale, although over 300 have expressed an interest.
Co-owner of the Major League Baseball team Los Angeles Dodgers, Todd Boehly, is leading the way and is expected to launch an official bid.
Apart from Boehly, other potential suitors include RedBird Capital Partners (involving Oakland Athletics' executive vice president Billy Beane) and Michael Rubin of sports merchandise group Fanatics.
Also, trying to bid for the Premier League club is MMA superstar, Conor McGregor. The former dual champion has also put forth his offer of £1.5billion, that too in the public domain. The Irishman himself is worth $200million approximately, but is looking to seal the deal with a hefty partnership. “I wish to explore this. @ChelseaFC,” McGregor tweeted.
Roman Abramovich has decided to sell Chelsea FC in the “best interests of the club.”
The Russian oligarch’s statement was uploaded on the official Chelsea blog, where he told fans that,as owner, he always makes decisions with the club’s best interests at heart.
This comes just a few days after Abramovich told the media that he wants to transfer the ‘stewardship and care’ of the club to Chelsea's charitable foundation.
However, the eyebrow-raising factor was the timing of the announcement, which coincides with the escalation of the Russia-Ukraine conflict and potential sanctions imposed on Russian oligarchs.
Abramovich, in his statement, said that the process won’t be fast-tracked and “will follow due process,” which he believes is in the best interest of the fans, employees and sponsors of the club.