Putin Pal Abramovich to Sell Chelsea F.C., Claims He Will Donate Proceeds to ‘Victims of the War in Ukraine’

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Roman Abramovich, the Russian owner of the Premier League’s Chelsea F.C, will sell the team, and is claiming he will forego a profit to donate all proceeds to victims of his country’s invasion of Ukraine.

Abramovich issued a statement on the team’s website, in which he stated it is in the best interests of the club for him to relinquish ownership:

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.

Abramovich did not clarify in his statement which victims of the war he intends to assist, nor did he designate a specific established charity. He also did not divulge if he views his country’s troops as among those victims.

He is reported to have close ties to Russian President Vladimir Putin, who last week ordered an invasion of sovereign Ukraine.

ESPN reported the billionaire is seeking a quick selloff, as authorities in the U.K. are seeking to seize high-value assets of Russia’s wealthy elite:

Sources have told ESPN that Abramovich is seeking around £3 billion ($2.24 billion) for the Blues, but his ability to negotiate is severely hampered by the timing of his decision, apparently influenced by mounting pressure on the U.K. government to seize the assets of high-value Russian individuals with links to Russia president Vladimir Putin’s regime following the country’s invasion of Ukraine.

Abramovich has always strenuously denied any ties to Putin, but Labour party leader Sir Keir Starmer publicly called on the government to impose sanctions on the Chelsea owner at Wednesday’s session of Prime Minister’s Questions.

The announcement of the sale comes days after the billionaire offered to hand control of the team over to Chelsea trustees.

ESPN reported Abramovich is seeking £3 billion, or roughly $2.24 billion, for the team.

In his statement, he said he hopes to “visit Stamford Bridge one last time to say goodbye to all of you in person.”