ABRA CADABRA
Roman Abramovich WRITES OFF staggering £1.5BILLION debt as Russian owner confirms he will sell Chelsea
ROMAN ABRAMOVICH will WRITE OFF his £1.5billion Chelsea debt after agreeing to walk away from Stamford Bridge.
And the Russian is hoping to find a buyer by FRIDAY.
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In a stunning development, which followed a frenzied day which signalled the end of his 19-year reign in SW6, Abramovich announced his intention to QUIT England football.
He said: “I have always taken decisions with the club’s best interests at heart.
“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.”
US bankers Raine Group, appointed by Abramovich in the wake of the global backlash that followed Russia’s invasion of Ukraine, had been asking for “indicative bids” by Friday.
They were seeking offers in excess of £3bn - nearly four times the £790m the Glazers paid for Manchester United in 2005.
But in his statement, Abramovich suggested a change of stance as he added: “The sale of the Club will not be fast-tracked but will follow due process.
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“I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and club.
“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, providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.”
The statement came after Switzerland’s richest man, US-based Hansjorg Wyss, claimed he had been approached by Abramovich on Tuesday.
Wyss, who is working with US billionaire and LA Dodger's part-owner Todd Boehly, said: “Abramovich is one of Vladimir Putin's closest advisers and friends.
“Like all other oligarchs, he is also in a panic. Abramovich is trying to sell all his villas in England. He also wants to get rid of Chelsea quickly.”
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He added: “Abramovich is currently asking far too much. Chelsea has no money. We don't know the exact selling price.”
Wyss’ other contention, that Abramovich would demand his money - loaned through his company Fordstam - has now been proven wrong.
SunSport understands at least two other consortia are also pondering a bid, with speculation that Britain’s richest man and Chelsea fan Jim Ratcliffe and his Ineos empire might be prepared to put in an offer.
But Abramovich also said he wants to say his personal farewell to the Chelsea fans - despite having been a rare visitor to the UK since his Tier One “golden visa” lapsed with no replacement in 2018.
He said: “Please know that this has been an incredibly difficult decision to make, and it pains me to part with the club in this manner.
“However, I do believe this is in the best interest of the Club.
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“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person.
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“It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements.
"Chelsea Football Club and its supporters will always be in my heart.”
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