Abramovich to sell Chelsea due to UK sanctions on Russia

The controversial owner of Chelsea FC, Roman Abramovich, has announced his intention to sell the team. This is all happening due to impending UK sanctions on Russian assets that could have led to a seizure of the decorated English Premier League club.

Abramovich is said to be looking for €3 billion, but with all the questions surrounding Russia, it may be difficult to fetch such a price. While the oil tycoon has denied any ties to Russian leader Vladimir Putin, many members of the intelligence community say that is false.

Abramovich bought Chelsea in 2003 and his money injection helped them become the world soccer force they are today. In his tenure as owner, the Blues have won two Champions League trophies, five Premier League titles and a multitude of other trophies.

The oligarch has tried to skirt around selling Chelsea as last week he announced he would pass the team off to his trustees. However, with pressure mounting, he now is under too much heat to withstand and will be forced to sell the club.

Abramovich has announced his intention to donate all the profits of the sale to people affected in Ukraine. While a good gesture, he has a net worth of approximately US$14.5 billion which was earned through controversial means and the sale of Chelsea will not affect his wealth in any significant manner.

It remains to be seen who will purchase the team, but there are rumors that Todd Boehly, the owner of the Los Angeles Dodgers in the MLB, is interested. It would continue the trend of Americans getting their hands on Premier League teams as the popularity of the sport grows across the pond.