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Roman Abramovich has decided to sell Chelsea, with Swiss billionaire Hansjorg Wyss claiming the has been offered the chance to buy the club.
Abramovich has decided to sell the club he has owned since 2003 following the Russian invasion of Ukraine, for fears that he could face UK sanctions.
In fact, he is selling all his UK assets for fears that they might be seized, something that has already happened to fellow oligarch, . Alisher Usmanov, who used to be a minority shareholder in Arsenal but who now has strong commercial links with Everton.
The Merseyside club suspended all ties with him on Wednesday.
As part of the sale process, Abramovich has agreed to write-off the £1.5 billion loan he has made to the club and which has helped fund their transfer activity for the best part of two decades.
Whilst this may look like an act of generosity, Abramovich realises that, if he wants a quick sale, the he needs to remove that significant impediment to any potential buyer.
Andy is an exiled English football fan living in Cyprus. He loves all sports but football is his abiding passion, and he still has dreams every now and then about scoring the winning goal in a Wembley Cup Final, even though his playing days are long gone. He follows most major leagues, across Europe at least, and has a favoured team in each. When he’s not watching, listening, reading or downloading podcasts about football, he spend his time worrying about his beloved Arsenal.