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Roman Abramovich on Course to Sell Chelsea Football Club

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Chelsea Football Club

Russian t Roman Abramovich was contacted by an investment banker to consider an offer for the selling of his English Premier League Chelsea Football club. A source at the club denied Abramovich involvement in such any deal.

The Russian was quick to deny such a proposal. He denied the offer to purchase a minority stake in the club by US run firm “Silver Lake Partners”.

Chelsea’s executives have hired Joe Ravitch from the Raine Group, a bank that deals in game and technology all around the world. The New York bank has esteemed the West London club at 2 billion pounds. It is uncleared whether the revealed deal is for an entire stake or a part of the club which then be owned by the banker.

Someone inside of Chelsea, who refused to reveal his identity, stated: “The club isn’t available to be purchased. Roman Abramovich isn’t considering offers for the club.” a spoke person for Abramovich in Moscow also declined the offer” market speculation.” Raine Group did not quickly react to an email looking for their comment.

At the start of this year Jim Ratcliffe, CEO of chemical company Ineos, offer 2 billion pounds ($2.55 billion) to purchase the club, which Abramovich turned down.

When did Abramovich Purchase Chelsea?

Abramovich had purchased Chelsea for £140 million in 2003. He purchased the club to create himself as a global business rather than a Russian tycoon. He immediately invested heavily in the club around one billion dollars due to which Chelsea won back to back premier league and became a top side not only in England but around the world.

New start at Chelsea Football Club

Chelsea has appointed a new manager at the start of this new season “Maurizio Sarri”. Sarri’s style is similar to Pep Guardiola’s Manchester City. Pep showered the Italian with praise when Manchester City took on Napoli in the Champions League last season.

Sarri likes to play attractive football which is easy to the eye and score lots of goals which he plays with high line and possession-based football. For this, he signed the Napoli player jorginho which sari worked previously with. These are exciting times for Chelsea but a change in ownership can disrupt this.

Why would Abramovich think of selling the club?

Lately, tensions have developed between Britain and Russia after British intelligence blamed Moscow for killing their Ex-agent Sergei Skripal in Britain earlier in March. Russia has denied any relation in the agent death. However, Business ties have been influenced by the incident between the two nations.

Due to which, Abramovich kept running into issues as his British visa ran down earlier this year, which made him miss Chelsea’s FA Cup last win over Manchester United in May. After which, Chelsea took a shot as their stadium renovation in London was suspended for a short while, signaling the Russian frustration.

On the pitch, Chelsea was unable to qualify for the Champions League for the second time in three years since Abramovich took control in 2003. And the one billion debt which the club owes Abramovich.

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