ABRAMOVICH TO SELL CHELSEA WITH NET PROCEEDS GOING TO UKRAINE WAR VICTIMS

Roman Abramovich has confirmed he is selling Chelsea Football Club, with all net proceeds from the sale to be donated to victims of war in Ukraine.

The billionaire believes it is in the best interest of the Champions League holders if he parts ways with the club he has transformed since he bought it in 2003, adding that the sale of Chelsea “will not be fast-tracked but will follow due process”.

The dramatic development comes days after Abramovich said he was handing over control of Chelsea to trustees of its charitable foundation following Russia’s invasion of Ukraine.

Chelsea have won 19 major trophies in the Abramovich era, including their first two Champions League crowns and five Premier League titles.