Russian oligarch Roman Abramovich says he will sell Chelsea soccer club amid Ukraine war

Key Facts

Russian oligarch Roman Abramovich said Wednesday that he will sell the Chelsea soccer club in England, a dramatic move that comes in response to outrage over Russia’s invasion of Ukraine.
Abramovich at the same time announced he has instructed the renowned team to set up a foundation that will use all net proceeds from the sale of Chelsea to “benefit all victims of the war in Ukraine.”
The sale announcement came less than a week after the billionaire said that he was transferring stewardship of the club to the trustees of a charitable foundation, and after calls that Abramovich face sanctions from the United Kingdom.
Roman Abramovich, owner of Chelsea smiles following his team’s victory during the UEFA Champions League Final between Manchester City and Chelsea FC at Estadio do Dragao on May 29, 2021 in Porto, Portugal.