- Chelsea FC’s Russian billionaire owner said any net proceeds from the club’s sale will go toward helping victims of the war in Ukraine.
- In a statement, Roman Abramovich said net proceeds from the sale will go toward the “urgent and immediate needs of victims.”
- Abramovich announced Wednesday he will be selling the team after the West imposed sanctions on a group of Russian oligarchs.
Chelsea FC’s Russian billionaire owner who announced he is selling the club said net proceeds from the sale will go toward helping victims of the war in Ukraine.
Roman Abramovich announced on Wednesday that he is selling English Premier League team Chelsea FC.
“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,” Abramovich said in a statement.
“This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery,” he added.
Abramovich has owned the team since 2003.
The news comes after the West announced sanctions targeting Russian oligarchs after Russian President Vladimir Putin ordered his troops to invade Ukraine last week.