Russian oligarch Roman Abramovich says he will sell Chelsea soccer club amid Ukraine war

Roman Abramovich, owner of Chelsea smiles following his team’s victory during the UEFA Champions League Final between Manchester City and Chelsea FC at Estadio do Dragao on May 29, 2021 in Porto, Portugal.

Roman Abramovich, the Russian billionaire, said Wednesday that he will sell his club in England in response to the outrage over Russia's invasion of Ukraine.

The renowned team has been instructed byAbramovich to set up a foundation that will use the net proceeds of the sale of the club to benefit the victims of the war in Ukraine.

As I have stated before, I have always taken decisions with the best interests of the club in mind. I decided to sell the Club because I believe it is in the best interest of the Club, the fans, the employees, as well as the Club's sponsors and partners.

Less than a week after the billionaire said that he was transfer stewardship of the club to the trustees of a charitable foundation, and after calls that he face sanctions from the United Kingdom, the sale announcement came.

The company that is based in London was bought byAbramovich. During his time at the club, they have won five season titles in England's top soccer division, the Premier League, and won the prestigious FA Cup the same number of times.

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