03/03/2022; 6:03 PM By : Steven D. Thompson
The Russia/Ukraine imbroglio has come full circle on Chelsea with the pressure on Roman Abramovich finally telling on him. Since Russia invaded Ukraine, all Russian assets across the globe, especially in Europe, have come under attack, with Roman Abramovich the main target in recent weeks.
Some critics have lambasted action against Abramovich as hypocrisy. The vultures have smelled blood and have been circling, waiting to swoop in on the kill. Those against the invasion of Ukraine believe that Abramovich has no moral right to hold on to Chelsea and want him to sell the club.
Chelsea fans are worried about a change of ownership because Abramovich has shown it is not about making money off Chelsea but a passion. Fans believe the Blues could return to not being an English heavyweight.
Roman Abramovich has succumbed to pressure and decided that selling Chelsea is the best for everyone.
For the past 19 years, Chelsea have challenged for the biggest titles and have earned themselves a seat at the big boys' table. The new era came after the Russian billionaire oligarch bought Chelsea from Ken Bates and transformed the club to perhaps the biggest club in England.
In the 19 years that Abramovich has reigned over the affairs of the West London club, they have won 21 trophies. Abramovich has been more than the owner of Chelsea. He has been a loving father, passionate about the success at Chelsea.
All that is about to end as the Russian is about to let go of ownership of the club. Under increasing pressure due to his association with Vladimir Putin and the Ukrainian invasion, Abramovich has decided to sell the club.
Importantly, Abramovich has decided that he will not ask to be repaid the £1.5bn he loaned the club.
How many people have the passion that Roman Abramovich has for Chelsea? How many of them can afford to buy the Stamford Bridge side? Not many. For the few that can, it is likely as a money-making venture. It simply means that in the good old days, when the success at the club was determined by how many trophies they won, it would now be by what the balance sheets tell.
Swiss billionaire Hansjorg Wyss claims he had the chance to buy the two-time European champions. According to him, the asking price is too high. Another billionaire has joined the mix of those interested in purchasing the Blues. US billionaire Todd Boehly had a bid rejected but should make another offer. Wyss says that if he buys Chelsea, it would be with a consortium of six to seven investors.
Abramovich has said the sale of the club will not be fast-tracked. The Russian billionaire claims that it has not been about business.
Abramovich said he had instructed a charitable foundation to be set up and the proceeds donated to the victims of the war in Ukraine. The Chelsea owner made a stalled attempt to hand over stewardship to the trustees of the club’s charitable foundation.