Roman Abramovich

2022 - 3 - 3

Chelsea FC

Russian billionaire Roman Abramovich will put Chelsea Football Club up for sale (unknown)

A close associate of Vladimir Putin, Abramovich was under intense pressure from British politicians. He said proceeds from the Premier League team sale will ...

Club owners now include megarich investors from the U. S., the United Arab Emirates, China, Thailand, Egypt and Iran. The club is now worth more than $3 billion, according to a Forbes estimate from last year. On Wednesday, before Chelsea's announcement, Labour Party leader Keir Starmer asked publicly about Abramovich directly: "Last week the prime minister said that Abramovich was facing sanctions. "Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. He later corrected the record to say that he isn't. Well, why on earth isn't he?" Apparently feeling the pressure, Abramovich announced Saturday that he was handing over "stewardship and care" of the club to the trustees of its charitable foundation.

Post cover — Image courtesy of "The Sydney Morning Herald"

Fall of the Roman empire: Abramovich changed the game but the ... (The Sydney Morning Herald)

When Russian oligarch Roman Abramovich first sunk his billions into Chelsea Football Club in 2003, Tony Blair was prime minister, Sugababes and Evanescence ...

One of them was oil company Sibneft, as well as his stake in Russian airline Aeroflot. Much of that money now resides in superyachts and London mansions; guaranteed safe investments with money washed squeaky clean. Abramovich arrived with a starting war chest of £140 million; £60 million for the club and £80 million to write off its debts. But in football terms, he was brutally effective, with Chelsea winning 21 trophies, including five FA Cups, one FIFA Club World Cup, two Champions Leagues and the Premier League five times over. By the time he puts it on the market, he will have written off a staggering £1.5 billion ($2.7 billion) of his own loans to the club, clearing the decks for its eventual new owners. Chelsea, in London’s ritzy inner-west, had been owned by Ken Bates and could never establish themselves as a serious suitor for silverware. At that stage, the English Premier League had long been considered a two-horse race.

Roman's empire: how the seeds of Abramovich's demise were there ... (The Guardian)

So, for Roman Abramovich, after 19 years of being garlanded in Britain for the glittering success his money bought for Chelsea football club, the game is ...

“It was also clear that Mr Abramovich had privileged access to President Putin, in the sense that he could arrange meetings and discuss matters with him.” They have said Gloster’s note about Abramovich’s case was due to Sumption’s opening speech having perhaps been mistakenly recorded, and that Abramovich did not in fact acknowledge that the means by which he acquired Sibneft were corrupt. It was also Mr Abramovich’s case that the lobbying activities of Mr Berezovsky, as a protector providing political krysha for Mr Abramovich, were inherently corrupt; and that, likewise, the deal between the two men, whereby Mr Abramovich agreed to pay Mr Berezovsky for his krysha services, was also corrupt. Berezovsky misjudged the seriousness of this shift, his TV station did criticise Putin, and, in fear of his life, he fled Russia for Britain. “He claimed that the relationship with Mr Berezovsky included … an element of physical, as well as political, protection.” Now, with the immediate threat of sanctions, and speeches made in parliament linking him to corruption and Putin, he has put Chelsea up for sale.

Russian billionaire Roman Abramovich confirms he is putting ... (ABC News)

Russian billionaire Roman Abramovich signals the end of an era at Chelsea Football Club, as he puts the Premier League powerhouse up for sale.

"The foundation will be for the benefit of all victims of the war in Ukraine. "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." Abramovich has also pledged to donate any net proceeds from the club's sale to help victims of the war in Ukraine.

Russia-Ukraine war: Chelsea FC owner Roman Abramovich selling ... (The Australian Financial Review)

The Russian businessman is selling the club after 19 years and promised to donate money to help the victims of war in Ukraine, amid mounting pressure from ...

“Abramovich is currently trying to sell all his villas in England. He also wants to get rid of Chelsea quickly now. Mr Abramovich has reportedly put a £4 billion ($7.35 billion) price tag on the Premier League club. “The foundation will be for the benefit of all victims of the war in Ukraine,” Mr Abramovich said in a statement. However, he said he would not ask for loans he has made to the club – reported to be £1.5 billion – to be repaid to him and the sale would not be fast-tracked. “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,” he said. Russian businessman Roman Abramovich said on Wednesday he would sell Chelsea Football Club, 19 years after buying it and setting the team on a path to sporting glory, and promised to donate money from the sale to help victims of the war in Ukraine.