This article was last updated on April 16, 2022
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Interest high in Premier League giants, with club still accepting bids
Premier League CEO welcomes Roman Abramovich’s move to sell club
Roman Abramovich has already received several serious bids in the region of UK£3 billion (US$3.99 billion) to buy Chelsea, the PA news agency understands.
Executives at the Premier League club are understood to still be at the stage of accepting bids. Further offers for the Uefa Champions League holders are expected amid high interest in one of the world’s most attractive and high-profile soccer assets.
The Chelsea owner has made the decision in light of Russia’s invasion of Ukraine and the team working on the sale are expected to review the credible bids once all offers are submitted.
Russian-Israeli billionaire Abramovich pledged to follow due process in his sale when announcing his intention to end his 19-year ownership of Chelsea in a statement on 2nd March.
Swiss billionaire Hansjorg Wyss has already publicly announced his intention to bid for Chelsea, and has US business magnate Todd Boehly as the first major partner of a consortium that continues to take shape.
Blues owner Abramovich hopes to have a figure in the region of UK£2 billion (US$2.66 billion) to donate to a new charitable foundation that will be set up specifically to aid victims of Russia’s war in Ukraine.
The sheer scale of such giving means Abramovich must set up a new body with the personnel and infrastructure capable of distributing funds to maximise the impact of aid for victims.
Abramovich vowed not to take any money out of the sale of Chelsea in his statement and PA understands that means all proceeds barring transaction costs will be ploughed into the new charitable foundation.
The Guardian has since reported that this could see funds channelled to both Russians and Ukrainians, while the UK’s Charity Commission confirmed on 3rd March that it had not yet received any registration application for a new charity linked to Abramovich.
A number of high-profile politicians have called in parliament for Abramovich to come under UK government sanctions, amid claims of links to Russia’s political situation.
But the PA news agency understands government organisations have been unable to prove reasonable grounds for sanctions against further Russian oligarchs.
Abramovich has always maintained he has acted wholly appropriately, and it is understood he has even been attempting to broker a peace deal between Russia and Ukraine.
After 19 years at Stamford Bridge and transforming the face of English soccer forever however, Abramovich’s time as Chelsea owner is close to an end.
Premier League chief executive Richard Masters welcomed Abramovich’s decision to put Chelsea up for sale.
Speaking at the Financial Times Business of Football Summit, Masters said: “I think the situation has escalated incredibly quickly over the last seven days and he’s come to the right conclusion.
“It’s unsustainable in the current environment. It’s a welcome decision and obviously, for the sake of everybody, including the fans, as soon as the sale process concludes everyone has certainty.”
Asked what would happen regarding the sale if Abramovich were sanctioned by the UK, Masters told the audience in London: “I don’t think that will work.
“I think the quickest [sale] we have ever done is ten days, that’s not to say that record can’t be beaten but normally it takes a number weeks!
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