The news comes amid Russia’s ongoing invasion of Ukraine that has seen consequences ripple through the footballing world.
The Russian oligarch has, according to CNN, previously attempted to give ‘stewardship’ of the club over to trustees, while still remaining the owner.
But mounting pressure from the public and even MPs – along with the potential of having his assets frozen due to close links to Russia – has forced his hand.
Abramovich will now look to sell the club he has owned since 2003. “As I have stated before, I have always taken decisions with the Club’s best interest at heart,” he said in a club statement.
“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.”
“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner,” Abramovich added. “However, I do believe this is in the best interest of the Club. It has been the privilege of a lifetime to be a part of Chelsea FC and I am proud of all our joint achievements.”
Abramovich also said that he has asked for a charitable foundation to be set up by his team, donating all net proceeds from the sale to help the victims of the war in Ukraine.
Though no official asking price has been named, Chelsea could be sold for an eye-watering £3 billion, of which Forbes claimed it is worth.
Following this, Conor McGregor shared a text message exchange to Twitter, in which he says “Chelsea for sale £3bn. Let’s buy it”, and captioned the screenshot with a wish to explore purchasing the club.
— Conor McGregor (@TheNotoriousMMA) March 2, 2022