Published On: Sun, Aug 26th, 2018

Roman Abramovich wants to sell Chelsea for £2 billion

The club has denied claims Chelsea is up for sale after rumors emerged that owner Roman Abramovich who immigrated to Israel this year, is actively looking for a buyer.

Roman Abramovich

Jewish billionaire Roman Abramovich who was denied a new visa to enter the UK back in May, began looking for a buyer for Chelsea, the Sunday Times reported. According to the report, the Russian oligarch wants to sell the club for 2 billion pounds after buying it in 2003 for 140 million pounds and according to calculations has invested more than a billion pounds since.

Abramovich immigrated to Israel in May this year. He had lived in England until now and had to leave the country after his investors’ visa was not renewed by the authorities, apparently because of his closeness to Russian President Vladimir Putin.  Abramovich also pulled the plug on the club’s proposed new stadium and rejected an offer to buy Chelsea from Britain’s richest man, Sir Jim Ratcliffe for £ 2 billion.

The highlight was when he was prevented from reaching his team’s Cup final against Manchester United.

The amount that Abramovich is interested in will break the all-time record for a club. The previous record belongs to the Glazer brothers, who in 2006 bought Manchester United for £ 790 million. According to the report, the US investment bank Raine Group was appointed by Abramovich to help find a buyer from the US or Asia. Raine helped Manchester City owners sell 13% of the group to Chinese investors.

 

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