Abramovich puts Chelsea up for sale

Chelsea owner Roman Abramovich has put the club up for sale amid the looming threat of sanctions from the UK government following Russia’s invasion of Ukraine.

Abramovich is alleged to have close ties with Moscow and president Vladimir Putin, who ordered troops into neighbouring Ukraine last week.

Although it was previously stated the club was not for sale, it was revealed on Tuesday that Abramovich’s stance might have shifted due to the escalating conflict and calls for him to be sanctioned by the government, and The Telegraph now write that the Russian-Israeli has put Chelsea on the market.

It is claimed that potential buyers have been approached by a US-based merchant bank and have been told Abramovich will demand £4bn for his asset, although he may only receive offers of half of that sum as a result of his weak bargaining position.

In the past Abramovich has rejected bids of £2.2bn for the Stamford Bridge side, with a similar proposal certain to cover the club’s £1.51bn debt to him.

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86-year-old Swiss billionaire Hansjorg Wyss has revealed that he has been contacted about purchasing the club, while 90min understands British billionaire Sir Jim Ratcliffe is also among those interested, with the financier and industrialist open to the possibility of buying a leading English football club.

At least three interested parties have been sounded out, with highest bids being encouraged before the end of this week as Abramovich rushes to sell before any sanctions are put on him. It remains to be seen whether the owner will be able to trade should any punitive measures be imposed in the meantime.

It has also been rumoured that the 55-year-old is attempting to sell his west London mansion.

The owner had attempted to distance himself from the football club by handing over the stewardship to its charitable foundation, although that is believed to have caught trustees by surprise and left several considering their position.