“The sale of the Club will not be fast-tracked but will follow due process. 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.
“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.
“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.
“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. 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.”
According to Sky News, Abramovich has placed a £3bn price tag on Chelsea as he prepares to end his near-two decade ownership of the London club.
The announcement comes barely a few days after he handed over “the stewardship and care of the club” to trustees of its foundation as pressure mounted on him over Russia’s invasion of Ukraine.
A few hours before the announcement, reports surfaced that Abramovich had offered the club to Hansjorg Wyss, a Swiss billionaire.
The Russian has owned Chelsea, the reigning European and World Club Cup champions, since 2003.
Under his stewardship, the club has garnered 19 major trophies — including five English Premier League (EPL) titles and two UEFA Champions League trophies.