Roman Abramovich’s future as Chelsea owner is in doubt after a Swiss billionaire claimed he has been offered the chance to buy the club.
Hansjorg Wyss told Swiss newspaper Blick that Abramovich “wants to get rid of Chelsea quickly” after the threat of sanctions was raised in Parliament.
Abramovich gave “stewardship and care” of Chelsea to its foundation trustees following Russia’s invasion of Ukraine.
Chelsea have chosen not to respond to the claims of 86-year-old Wyss.
The west London club have always previously denied reports that they are up for sale.
Abramovich, 55, is alleged to have strong ties to Russian president Vladimir Putin, which he has denied. Other Russian billionaires have already been the subject of European Union sanctions where their assets have been frozen.
That has included Russian billionaire Alisher Usmanov, who has commercial links to Everton.
The United Kingdom government is yet to sanction Abramovich or Usmanov, but Labour MP Chris Bryant said in Parliament on Tuesday that Abramovich was “terrified of being sanctioned which is why he is going to sell his home tomorrow [Wednesday], and another flat as well”.
On Wednesday, during Prime Minister’s Questions, Labour leader Keir Starmer asked why Abramovich was not facing sanctions, with Boris Johnson replying it was “not appropriate to comment on any individual cases at this stage”.
Wyss also said: “Abramovich is trying to sell all of his villas in England, he also wants to get rid of Chelsea quickly.
“I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.”
A spokesperson for Abramovich declined to comment on those claims.
Should Abramovich decide to sell Chelsea, it would be a seismic moment for the club and English football.
Having bought the Blues in 2003 for £140m, Chelsea have been transformed under the Russian’s reign, and in many ways it has set the template for how much finance was needed to compete at the top end of the Premier League.
In total, Abramovich has loaned the club more than £1.5bn which has brought great success.
Under his ownership, the club have won the Champions League twice, both the Premier League and FA Cup five times, the Europa League twice and the League Cup three times.
In August 2021, they won the Uefa Super Cup and they recently won their first Club World Cup, meaning the Blues have won every trophy possible since Abramovich took over at the club.
Analysis by Football finance expert Kieran Maguire
Trying to value a club is always challenging. I calculated valuations for all Premier League clubs in 2020 which valued Chelsea at about £1.2bn.
Chelsea have also lost more money than any club in the history of the Premier League, so it would be difficult from a financial perspective to justify the reported £2bn price tag, especially given its stadium is much smaller than rivals from the ‘Big Six’
However, If there is a willing buyer and a willing seller then a deal is normally straightforward once due diligence from both parties has taken place.
If assets are frozen or sanctioned then it comes down to the nature of the sanctions, which may or may not prevent an individual or company taking money and/or assets out of the UK.
Chelsea’s £1.5bn debt is owed by Roman Abramovich’s company Fordstam to another of his companies, Camberley International Investments, based in the British Virgin Isles, so to an extent Abramovich is both the borrower and the lender. If the club is sold for more than £1.5bn then the proceeds could be used to pay back the loan.
So from a financial point of view football clubs are not always great investments. But for those looking to buy a club as a trophy asset, where the rewards, such as winning leagues and cups and the kudos and fame that it brings, then they may feel that a club is a worthy investment.
