Roman Abramovich

2022 - 3 - 2

Roman Abramovich is selling Chelsea (unknown)

The Russia billionaire is looking to sell the club he bought in 2003 after threats of sanctions in England.

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Chelsea Legend John Terry Slammed In UK Parliament Over Roman Abramovich Tweet (unknown)

John Terry has been criticized in UK parliament after the former Chelsea captain praised Roman Abramovich on Twitter.

One told him to "Try thinking of other people for a change", while another wrote: "You should be ashamed. In the statement Abramovich said that he "will not be asking for any loans to be repaid." He also vowed to pass on "all net proceeds" from the sale to a new charitable foundation to help "all victims of the war in Ukraine".

Russian billionaire Roman Abramovich will put Chelsea Football Club up for sale (unknown)

A close associate of Vladimir Putin, Abramovich was under intense pressure from British politicians. He said proceeds from the Premier League team sale will ...

Club owners now include megarich investors from the U. S., the United Arab Emirates, China, Thailand, Egypt and Iran. The club is now worth more than $3 billion, according to a Forbes estimate from last year. On Wednesday, before Chelsea's announcement, Labour Party leader Keir Starmer asked publicly about Abramovich directly: "Last week the prime minister said that Abramovich was facing sanctions. "Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. He later corrected the record to say that he isn't. Well, why on earth isn't he?" Apparently feeling the pressure, Abramovich announced Saturday that he was handing over "stewardship and care" of the club to the trustees of its charitable foundation.

Roman Abramovich may not face UK sanctions for months (unknown)

Wealthy Russians living in "Londongrad," like Abramovich, could be free of UK sanctions for a while because of legal complications, people say.

That effort is complicated by budget cuts to the National Crime Agency, which helps gather evidence for sanctions, according to a person who briefed on the government’s plans. There has been little time to see how U. K. judges handle sanctions challenges. While the U. K. sanctions system largely mirrors the EU’s, there are differences, including the mechanisms to challenge a decision. Amid a growing perception of U. K. foot-dragging, another person familiar with the matter said ministers are considering emergency legislation to speed up the sanctions response. On Wednesday, he said he is selling Chelsea and has instructed the board to set up a charitable foundation that will get all net proceeds from the sale. Russia’s Ukraine invasion is the first big test for the U. K.’s post-Brexit sanctions regime, which came into force in 2020.

Post cover — Image courtesy of "The Guardian"

Roman's empire: how the seeds of Abramovich's demise were there ... (The Guardian)

So, for Roman Abramovich, after 19 years of being garlanded in Britain for the glittering success his money bought for Chelsea football club, the game is ...

“It was also clear that Mr Abramovich had privileged access to President Putin, in the sense that he could arrange meetings and discuss matters with him.” They have said Gloster’s note about Abramovich’s case was due to Sumption’s opening speech having perhaps been mistakenly recorded, and that Abramovich did not in fact acknowledge that the means by which he acquired Sibneft were corrupt. It was also Mr Abramovich’s case that the lobbying activities of Mr Berezovsky, as a protector providing political krysha for Mr Abramovich, were inherently corrupt; and that, likewise, the deal between the two men, whereby Mr Abramovich agreed to pay Mr Berezovsky for his krysha services, was also corrupt. Berezovsky misjudged the seriousness of this shift, his TV station did criticise Putin, and, in fear of his life, he fled Russia for Britain. “He claimed that the relationship with Mr Berezovsky included … an element of physical, as well as political, protection.” Now, with the immediate threat of sanctions, and speeches made in parliament linking him to corruption and Putin, he has put Chelsea up for sale.

Chelsea's Russian billionaire owner Roman Abramovich confirms ... (CBC.ca)

With the threat of financial sanctions looming, Chelsea's Russian owner Roman Abramovich confirmed Wednesday he is trying to sell the Premier League club he ...

Judge Elizabeth Gloster said Abramovich had "very good relations" and "privileged access" to Putin though adding he could not "pull the presidential strings." "Please know that this has been an incredibly difficult decision to make, and it pains me to part with the club in this manner," Abramovich said in a statement. Abramovich has not had a British visa since 2018 when a renewal application was taking longer than usual to go through and was withdrawn. Helped by a number of expensive signings, the club won the Premier League title two years later and has added four more since then, most recently in 2017. "I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated," he said. One potential buyer had already gone public to reveal Abramovich was trying to sell with a price tag of at least $2.5 billion floated.