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Billionaire Roman Abramovich Says He’s Selling Chelsea Football Club

  • Net proceeds will go to a foundation for Ukraine war victims
  • Russian billionaire is said to be seeking 3 billion pounds
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Roman Abramovich said he is selling Chelsea Football Club and has instructed the board to set up a charitable foundation that will get all net proceeds from the sale. Ed Ludlow reports.Source: Bloomberg
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Roman Abramovich is selling Chelsea Football Club after almost two decades of ownership amid unrelenting scrutiny over his ties to Russia.

The billionaire, who transformed the team’s fortunes since his 2003 purchase, said he’s instructed the board to set up a charitable foundation to receive the net proceeds from the sale.