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Roman Abramovich, the Russian billionaire owner of Chelsea Football Club, sits in the stands with chin resting on hand
Roman Abramovich, the billionaire owner of Chelsea Football Club.Martin Meissner/AP
  • A British lawmaker says that Roman Abramovich is trying to sell off some of his London real estate.

  • The billionaire owner of a football club could face sanctions.

  • According to reports,Abramovich is looking for buyers for the team.

Russian billionaire Roman Abramovich is trying to sell off some of his London assets ahead of possible sanctions from the US, UK, and European Union.

According to The Guardian, Chris Bryant, a member of British Parliament, said Tuesday that Roman Abramovich is terrified of being sanctioned and is planning to sell his London home as well as an additional flat in the city. The owner of a football club is the largest shareholder of a steelmaker.

TheBillionaires Row is where the London property is located. It is the most expensive address in the country and is home to multiple foreign embassies. The mansion was purchased for 90 million pounds in 2009, according to The Guardian.

According to The Guardian, journalists staked out in front of the mansion on Sunday and saw that the downstairs was being painted.

According to a report by Benjamin Stupples and Kitty Donaldson, the apartment that is being sold is at the waterfront on the River Thames.

The London real estate is one asset that is being considered for sale. According to a Swiss newspaper, Roman Abramovich is looking to sell his club and has already approached four buyers, including a Swiss billionaire. Wyss told the newspaper that the initial asking price for the club was too high.

Amid growing backlash to his ownership of the club, Roman Abramovich announced Saturday that he would hand off stewardship of the team to the club's charitable foundation while staying on as owner.

Although his name hasn't yet appeared on a list of high-profile Russians facing economic sanctions, he is said to be an ally of Putin and is one of the nation's richest people. Boris Johnson said last week that he had already been reprimanded. Johnson didn't say whether or not Abramovich could be targeted in the future.

The US pledged last week to hunt down and freeze the assets of several members of the inner circle of Putin.

A spokesman for the Russian billionaire said Monday that he was contacted by the Ukrainian government to help achieve a peaceful resolution. The aircraft owned by Abramovich has been on the move between Monte Carlo and Russia.

The original article is on Business Insider.

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