This is an entry from: LIVE: UN overwhelmingly votes to condemn Russian invasion of Ukraine, demands withdrawal
Russian Billionaire Abramovich says he will sell Chelsea Football Club
2 March 2022 20:28 GMT
Russian billionaire Roman Abramovich has said he will sell Chelsea Football Club, amid calls for him to be hit by sanctions after Russia's invasion of Ukraine.
"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," he said in a statement on Wednesday.
The Russian metals magnate also said that the net proceeds from the sale will go to a charitable foundation set up to help those impacted by the Russian invasion.
"The foundation will be for the benefit of all victims of the war in Ukraine," Abramovich said.
In April 2021, Forbes said Chelsea was worth $3.2bn.