The 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 that he has instructed the renowned team to set up a foundation that will use all net proceeds of the sale of Chelsea to "benefit all victims of the war in Ukraine."
Abramovich said in a statement, "As I have stated before, 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, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club's sponsors and partners."
The sale announcement came less than a week after the billionaire said that he was transfer stewardship of the club to the trustees of a charitable foundation, and after calls that Abramovich face sanctions from the United Kingdom.
Abramovich bought Chelsea, which is based in London, in 2003. During his tenure, Chelsea has won season titles in England's top soccer division, the Premier League, five times, and won the prestigious FA Cup the same number of times.
Earlier Wednesday, the Biden administration said it was forming a new task force to enforce U.S. and allied sanctions imposed on Russian officials and oligarchs who have helped the war in Ukraine, which was launched by President Vladimir Putin.
This is breaking news. Please check back for updates.
https://news.google.com/__i/rss/rd/articles/CBMieWh0dHBzOi8vd3d3LmNuYmMuY29tLzIwMjIvMDMvMDIvcnVzc2lhbi1vbGlnYXJjaC1hYnJhbW92aWNoLXNheXMtaGUtd2lsbC1zZWxsLWNoZWxzZWEtc29jY2VyLWNsdWItYW1pZC11a3JhaW5lLWZ1cm9yLmh0bWzSAQA?oc=5
2022-03-02 18:23:27Z
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