Chelsea owner Roman Abramovich confirmed that he will sell the club.
According to the details, the move comes amid mounting calls in the United Kingdom for him to face sanctions in the wake of Russia’s invasion of Ukraine.
The club had been put on the market, with an asking price of at least £3billion. And last night Abramovich said in a statement: ‘I have always taken decisions with the club’s best interest at heart.
‘In the current situation, I have therefore taken the decision to sell the club … I will not be asking for any loans to be repaid.’
Abramovich has instructed American bank the Raine Group to handle the sale.
Swiss billionaire Hansjorg Wyss claims he has been approached and is considering an offer as part of a consortium which also includes Todd Boehly, the co-owner of baseball’s Los Angeles Dodgers.
Sources claim Abramovich believes Chelsea is worth more than £3bn. However, it seems inevitable he will have to lower his expectations.
Chelsea’s debt to Abramovich, who took over in 2003, is £1.5bn.
Hansjorg Wyss, 86, is a Swiss billionaire who founded Synthes USA – a medical device manufacturer – in 1977.
Synthes USA is the world’s largest maker of implants to mend bone fractures.
Wyss sold the company to Johnson & Johnson in 2012 in a deal worth $20.2bn (£15.2bn). Synthes is now part of their DePuy division.
In 2017, DePuy Synthes launched its Titanium 3-D Printed Implants for use in facial reconstruction.
According to Forbes, Wyss has a net worth of $5.8bn (£4.3bn) as of 2021. He now holds stakes in biotech firms NovoCure and Molecular Partners.