Roman Abramovich has confirmed reports that he has decided to sell Chelsea amid Russia’s continued invasion of Ukraine.
The Russian-Israeli billionaire has owned the Blues since 2003 and helped steer the Stamford Bridge club to 19 major trophies.
But the 55-year-old’s glittering reign in west London is close to an end, with a consortium of billionaires already making their interest in a deal public.
Swiss billionaire Hansjorg Wyss and USA investor Todd Boehly are understood to be two of the parties joining forces and now preparing a bid for the Blues.
‘I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC,’ read Abramovich’s statement.
‘As I have stated before, I have always taken decisions with the Club’s best interest at heart. 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.
‘The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and Club.
‘Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.
Roman Abramovich has confirmed reports that he has decided to sell Chelsea Football Club
‘Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. However, I do believe this is in the best interest of the Club.
‘I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart.
Thank you, Roman.’
Abramovich has put Chelsea up for sale but will struggle to get the £3billion he wants for the club.
The oligarch has instructed American bank the Raine Group to handle the sale of the west London side.
Swiss billionaire Hansjorg Wyss claims he has been approached ad is considering making an offer as part of a consortium which includes co-owner of the LA Dodgers Todd Boehly, who has shown previous interest in buying the club.
Roman Abramovich has put Chelsea up for sale and wants around £3billion for the club
As revealed by MailOnline on Wednesday morning, Abramovich wants a return of at least £3bn for the Stamford Bridge club.
Sources claim Abramovich believes Chelsea is worth north of £3bn – but the likelihood of receiving such offers appears small.
Indeed, it seems inevitable that the Russian businessman will have to lower his expectations, with doubts emerging that he will receive anywhere near the £3bn he is said to deem acceptable.
Chelsea’s debt to Abramovich, who took over the Blues in 2003, currently stands at £1.5bn.
There is a sense that securing an American buyer might be Abramovich’s best route towards a sale as investment from China, the Far East and Eastern Europe has dried up for clear political reasons.
Chelsea believe a sale to a US tycoon is their best route as they look for a new owner
Swiss billionaire Hansjorg Wyss (R) says he could form part of a consortium to purchase the club
However, Abramovich’s reported links to a Russian regime that has caused so much destruction in Ukraine could lead to reluctance from interested parties to deal with Chelsea.
Similarly, Chelsea are facing apprehension from rival clubs to deal with them in summer transfer window, or at the very least being hardballed during negotiations.
Sportsmail also understands that prospective signings are now uneasy about joining Chelsea given Abramovich’s connections with Vladimir Putin’s Russian regime, particularly if the businessman remains at the helm
Nevertheless, there has been strong indications that Abramovich will receive at least two firm offers for the club by the end of the week – but whether the bids are close to the sort of money the tycoon is looking for remains to be seen.
Abramovich is also looking to offload his £200million London property portfolio within days, including his 15-bedroom mansion at Kensington Palace Gardens, valued at more than £150 million. The property sits on a road between several embassies and is guarded at each end
The Russian’s portfolio also includes a £22m three-storey penthouse at the Chelsea waterfront
The danger of a potential buy-out being wrecked by Abramovich being sanctioned by the UK government has added urgency to the situation.
Labour leader Sir Keir Starmer questioned Boris Johnson in Parliament on why Abramovich hasn’t yet faced sanctions, with the Prime Minister saying: ‘It is not appropriate to comment on individual cases at this stage’
The Raine Group first acted for Chelsea in 2018 after talks with US private equity firm Silverlake and British billionaire Jim Ratcliffe broke up without reaching an agreement.
The club has effectively been for sale ever since due to Abramovich’s conflict with the UK government after the Home Office declined to issue him a visa, with Russia’s invasion of Ukraine giving him fresh impetus to sell.
Speaking to Swiss newspaper Blick, Wyss said: ‘Like all other oligarchs, he (Abramovich) is also in a panic. Abramovich is trying to sell all his villas in England. He also wants to get rid of Chelsea quickly. I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.
‘I have to wait four to five days now. Abramovich is currently asking far too much. You know, Chelsea owe him £2bn.
‘As of today, we don’t know the exact selling price. I can well imagine starting at Chelsea with partners. But I have to examine the general conditions first. But what I can already say: I’m definitely not doing something like this alone. If I buy Chelsea, then with a consortium consisting of six to seven investors.’
However, there is doubt whether a consortium style takeover would have longevity given the huge financial demands expected at a club the size of Chelsea.
Nevertheless, it is clear now that Abramovich is preparing his Chelsea exit strategy.
It emerged on Tuesday that Abramovich is trying to sell his portfolio of London properties and Sportsmail has now learned that the Russian has spent time in the United Arab Emirates in recent weeks with a view to transferring part of his wealth there.
Chelsea declined to comment.
Abramovich’s relationship with Vladimir Putin is under scrutiny amid the Ukrainian invasion
Trustees are understood to be concerned over conflicts of interest which may arise from them holding stewardship of the club
Chelsea chairman Bruce Buck is among the trustees who have been handed stewardship
Part of the Karazin National University campus in the city of Kharkiv is destroyed after being struck by a Russian missile which was seemingly intended for a nearby police or interior ministry building
Firefighters battle to put out a blaze in Kharkiv as the city came under renewed airstrikes today, with an official saying there is almost no area of the city left that has not been hit
Russian armoured vehicles and trucks are pictured rolling through the centre of Kherson, as Moscow claimed to be in control of the city but Ukraine said it still holds key government buildings
A Swiss billionaire worth £4.3BN who founded a world leading maker of implants to mend bone fractures – and one of the ‘most philanthropic people in the world’ who has NEVER invested in sport: Who is Hansjorg Wyss, the 86-year-old looking to buy Chelsea?
Swiss medical magnate Hansjorg Wyss insists he has been given the opportunity to buy Chelsea as part of a consortium of ‘six or seven investors’ with Russian owner Roman Abramovich looking to sell.
The 86-year-old, worth a reported £4.3bn, has admitted interest in purchasing the reigning European champions.
‘Abramovich is trying to sell all his villas in England, he also wants to get rid of Chelsea quickly,’ Wyss told Swiss newspaper Blick. ‘I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.
‘I can well imagine starting at Chelsea with partners. But I have to examine the general conditions first. But what I can already say: I’m definitely not doing something like this alone.
‘If I buy Chelsea, then with a consortium consisting of six to seven investors.’
But who is this 86-year-old billionaire who has no record of investing in sport, how did he make his fortune and what has he spent it on so far?
Born in the Swiss capital of Bern in 1935, Wyss was raised in an apartment with his two sisters.
Wyss sold Synthes USA – the world’s largest maker of implants to mend bone fractures – in 2012 for $19.7billion in cash and stock
He received a master’s degree in civil and structural engineering from the Swiss Federal Institute of Technology Zurich in 1959 before going on to earn an MBA from Harvard six years later.
After spells in textile engineering – including in different roles for car manufacturer Chrysler in Pakistan, Turkey and the Philippines – he worked in the steel industry and ran a side business selling planes.
Through that side focus, Wyss met a surgeon who had co-founded Synthes, a medical device manufacturer. Spotting an opportunity, the Swiss founded and became president of Synthes USA in 1977.
Now, the company is the world’s largest maker of implants to mend bone fractures.
Under Wyss’ stewardship, the sales team of the American division expanded and trained surgeons how to use its products, such as internal screws and plates.
He was Synthes’ worldwide CEO and chairman until his resignation as CEO in 2007, and was company chairman until Johnson & Johnson – the medical company which developed a Covid vaccine – acquired the company five years later.
Synthes USA is the world’s largest maker of implants to mend bone fractures
Wyss sold the company in 2012 for $19.7billion in cash and stock. Synthes is now part of their DePuy division.
He now holds stakes in publicly-traded biotech companies NovoCure and Molecular Partners.
Aside from the medical field, Wyss has been described as ‘among the most philanthropic people in the world’ according to Forbes.
The Swiss philanthropist (L) also has charitable foundations with assets of over $2 billion
He also has charitable foundations with assets of over $2 billion while, in 2014, he pledged $120m to two universities in Zurich – the University of Zurich and ETH Zurich where he obtained his first master’s – to establish a centre to accelerate medical breakthroughs.
Wyss has also pledged to donate $1 billion to conservation efforts around the world over a decade. Specifically, he donated the sum to the Wyss Campaign for Nature, aiming to conserve 30 per cent of the world’s land and oceans by 2030.
Away from philanthropic activity, Wyss has been in favour of higher inheritance taxes for Switzerland’s wealthy and is a member of the Democracy Alliance, a club of liberal donors.
There has also been a fascinating rivalry of sorts between Wyss, who supports liberal politics and fellow billionaire Christoph Blocher, who supports conservative politics.
There has also been a fascinating rivalry of sorts between Wyss, who supports liberal politics and fellow Swiss billionaire Christoph Blocher (pictured), who supports conservative politics
Wyss highlighted the advantages of Swiss openness toward the EU and immigrants while Blocher advocated for Switzerland’s independence in those matters
Away from work, the 86-year-old is last known to live in Wyoming USA. He has one daughter, and enjoys hiking, skiing and backpacking, while he is also a hobby pilot.
He owns a 900-acre ranch in Paso Robles, California, and as of March 2022 he is ranked 451 on Forbes’ list of billionaires with a real time net worth of $5.1bn (£4.3bn).
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