Report: Chelsea drawing takeover interest with Abramovich at risk of sanctions

A number of sports investors and private equity firms are preparing offers to swoop in and buy Chelsea as Russian oligarch Roman Abramovich, the club’s wealthy longtime owner, faces the threat of sanctions from the United Kingdom, sources told Bloomberg’s David Hellier and Giles Turner.

Chelsea has already fielded one inquiry, according to Hellier and Turner.

Abramovich, who’s faced calls to denounce Russian President Vladimir Putin amid the ongoing invasion of Ukraine, has so far evaded sanctions from the U.K. But British Prime Minister Boris Johnson said Thursday he would hit the country with the “largest and most severe package of economic sanctions that Russia has ever seen,” including the freezing of assets of its super-rich.

Earlier, Johnson erroneously claimed Abramovich was “already facing sanctions” because of his ties with Putin. The government later clarified the prime minister had made an error.

But the U.K.’s foreign secretary, Liz Truss, maintained Abramovich could yet be sanctioned in the future.

Chris Bryant, a member of the Labour Party, called on the British government on Thursday to seize control of Abramovich’s assets, including Chelsea, the club he bought in 2003 for £140 million. Bryant said he had obtained government documents from 2019 that claimed the billionaire was associated with “corrupt activity and practices” in Russia.

The extent of Abramovich’s ties with Putin is unknown. The 55-year-old has publicly distanced himself and his affairs from Putin and his regime. However, in 2012, a British high court observed that Abramovich had “very good relations” with and “privileged access” to the Russian president.

Abramovich’s daughter, Sofia, distanced herself when she shared an anti-Putin message on Instagram on Friday.

Blues boss Thomas Tuchel admitted Friday the uncertainty hanging over Abramovich’s future in the U.K. is affecting the team ahead of Sunday’s League Cup final against Liverpool.

“We should not pretend this is not an issue. The situation in general for me and for my staff, the players, is horrible,” Tuchel told reporters. “Nobody expected this. It’s pretty unreal. Like I said, it’s clouding our minds, it’s clouding our excitement towards the final. And it brings huge uncertainty, much more to all the people and families who are actually in the moment more involved than us.

“And our best wishes, regards, and thoughts are obviously with them, which is absolutely the most important thing.”

Chelsea, winners of 21 titles since Abramovich’s takeover, are now worth an estimated €1.9 billion, according to KPMG. A source told Bloomberg in 2018 that Abramovich had rejected bids in the past and was seeking £3 billion at the time.