With the threat of financial sanctions looming, Chelsea’s Russian owner Roman Abramovich has confirmed that he is trying to sell the Premier League club that his lavish investments turned into an elite trophy-winning machine.
Abramovich said he will not be asking to be repaid £1.5 billion ($2 billion) in loans that he’s granted the club over the last 19 years.
“I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated,” he said in a statement. “The foundation will be for the benefit of all victims of the war in Ukraine.