Chelsea’s Russian billionaire owner Roman Abramovich said he intends to sell the football club following increased pressure from the UK government to sanction oligarchs following Russia’s invasion of Ukraine.
Many experts have questioned the viability of a sale given the current political state with Russia, especially considering that Abramovich has been heavily linked to the Putin regime in the past, despite denying accusations.
The Russian’s affiliation with the country’s state was raised by Labour leader Keir Starmer today, as he pressed for tighter regulations on oligarchs.
Abramovich’s advisers at The Raine Group were expected to issue letters to potential bidders today, with bids greater than £3bn to be considered and a deadline of mid-March for bids stated, Sky News said.
As many as eight multi-billionaires were contacted as potential buyers, with many understood to be American or Asian, according to sources close with the process.
The Swiss billionaire, Hansjorg Wyss, said on Tuesday that he and three others were invited to bid for Chelsea.
Abramovich was said to have rejected a £2.5bn offer from an unknown third party earlier this week.
He is eager to complete the deal swiftly, perhaps as soon as May, one insider commented.
One person close to Chelsea believes the decision is “the right thing to do” and insisted the oligarch seeks a clean transition to an owner suitable for the club.
Abramovich at the weekend said he wished to entrust the “care and stewardship” of Chelsea to its charitable foundation.
The billionaire bought Chelsea in 2003 and, helped no little part by over £2bn of transfer spending, under his ownership it has been the most successful club in the UK.
Abramovich's London property is also up for sale, according to reports.