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Ukraine war

Abramovich to sell Chelsea FC as rich Russians feel pressure

Billionaire owner vows to donate sale proceeds to victims of Moscow invasion

 Chelsea owner Roman Abramovich celebrates with team after winning the Champions League Pool in 2021.   © Reuters

LONDON (Financial Times) -- Roman Abramovich has put Chelsea football club up for sale after 19 years of ownership, waiving 1.5 billion British pounds ($2 billion) it owes him and pledging to donate proceeds of the sale to victims of the war in Ukraine.

The Russian-Israeli billionaire on Wednesday said the move was "in the best interest of the club," adding that "this has been an incredibly difficult decision to make, and it pains me to part with the club in this manner."

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