Roman Abramovich plans to sell Chelsea

Russian Tycoon Roman Abramovich says he is planning to sell his English Premier League club Chelsea.

In a statement on the Premier League club's website_ businessman Abramovich said he had made "incredibly difficult decision" which "pains" him.

The Russian will not ask "for any loans to be repaid" and said proceeds of the sale would be donated to war victims.

Abramovich had said on Saturday he would give "stewardship and care" of Chelsea to its foundation trustees following Russia's invasion of Ukraine.

That led to speculation Abramovich - who has loaned the club more than £1.5bn - would put Chelsea up for sale_ and billionaire Hansjorg Wyss told Swiss newspaper Blick on Wednesday that he had been offered the chance to buy the club.

Wyss said Abramovich wanted "to get rid of Chelsea quickly" after the threat of sanctions was raised in Parliament.

Abramovich_ 55_ is alleged to have strong ties to Russian President Vladimir Putin_ which he has denied.

He said "all net proceeds from the sale" would be donated to the "victims of the war in Ukraine".

BBC Sport understands Abramovich has already received offers for Chelsea and that he values the club at as much as £3bn.

In his statement_ Abramovich said: "I have always taken decisions with the club's best interest at heart.

"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_ the fans_ the employees_ as well as the club's sponsors and partners.

"The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid.

"I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine."

BBC Sport understands the trustees of Chelsea's charitable foundation_ who had not yet agreed to take control of the club_ will no longer be asked to. Abramovich was criticised for not referencing Russia's invasion of Ukraine in that original statement on Saturday.Chelsea's players were not told ahead of time about their owner's new statement_ which was released less than a hour before the side's FA Cup fifth-round tie at Luton Town.

After falling behind early on_ the Premier League team won 3-2 to reach the quarter-finals.

Abramovich bought Chelsea in 2003 for £140m_ and in his statement said it had "never been about business nor money_ but about pure passion for the game and club".

A club transformed
Since his purchase of the club_ Chelsea have been transformed_ setting 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 helped to bring great success.

Under his ownership_ the club have won every major trophy possible - including 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 in February won their first Club World Cup.

He has appointed 13 different managers and the club spent more than £2bn in the transfer market under his ownership.

Chelsea's women's team_ who became affiliated to Chelsea FC in 2004_ have thrived under Abramovich's ownership_ winning the Women's Super League four times_ the Women's FA Cup_ three times and reaching the Champions League final last season.

Their high profile has seen world stars such as Australia's Sam Kerr and Danish forward Pernille Harder move to the club.