Russian Oligarch Roman Abramovich to Sell Chelsea Football Club
The surprise move comes after calls in the UK parliament to impose sanctions on wealthy Russians.
The post Russian Oligarch Roman Abramovich to Sell Chelsea Football Club appeared first on LUXUO.
Image: Forbes
Russian billionaire Roman Abramovich has announced that he will be selling off London?s Chelsea Football Club. He had owned the team since 2003 when he bought it at US$190 million. Abramovic wants at least US$2.5 billion for the club and is willing to write off its debts, and proceeds would be used ?for the benefit of all victims of the war in Ukraine?.
This latest move by the billionaire comes after growing calls in the UK parliament to impose sanctions on wealthy Russians for their country?s invasion of Ukraine. According to The New York Times, Abramovich?s huge fortune (net worth at US$12.4 billion) is said to have ties to Russian President Vladimir Putin. The wealth amassed from cronyism is ?shielded? overseas through shell companies and undisclosed transactions.
Earlier on Wednesay, US President Joe Biden said the administration is setting up a task force to ensure that sanctions on Russian officials and oligarchs are dutifully discharged. Many rich Russians fearing that they will be implicated quickly sold off their assets such as properties, yachts and private jets.
Image: Chelsea FC
READ MORE: A Look Inside Roman Abramovich?s US$100 Million Private Jet
Chelsea Football Club, supported by Abramovich?s wealth, has clinched several tit...
The post Russian Oligarch Roman Abramovich to Sell Chelsea Football Club appeared first on LUXUO.
Image: Forbes
Russian billionaire Roman Abramovich has announced that he will be selling off London?s Chelsea Football Club. He had owned the team since 2003 when he bought it at US$190 million. Abramovic wants at least US$2.5 billion for the club and is willing to write off its debts, and proceeds would be used ?for the benefit of all victims of the war in Ukraine?.
This latest move by the billionaire comes after growing calls in the UK parliament to impose sanctions on wealthy Russians for their country?s invasion of Ukraine. According to The New York Times, Abramovich?s huge fortune (net worth at US$12.4 billion) is said to have ties to Russian President Vladimir Putin. The wealth amassed from cronyism is ?shielded? overseas through shell companies and undisclosed transactions.
Earlier on Wednesay, US President Joe Biden said the administration is setting up a task force to ensure that sanctions on Russian officials and oligarchs are dutifully discharged. Many rich Russians fearing that they will be implicated quickly sold off their assets such as properties, yachts and private jets.
Image: Chelsea FC
READ MORE: A Look Inside Roman Abramovich?s US$100 Million Private Jet
Chelsea Football Club, supported by Abramovich?s wealth, has clinched several tit...
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