Roman Abramovich Chelsea sale: Russian owner says he'll sell club but it 'will not be fast-tracked'

Abramovich announced that the proceeds from the sale would go to the "benefit of all victims of the war in Ukraine"

Longtime Chelsea owner Roman Abramovich confirmed on Wednesday that he will sell the club. The move comes amid mounting calls in the United Kingdom for him to face sanctions in the wake of Russia's invasion of Ukraine. 

Dialogue with interested parties had begun earlier this week after Abramovich's attempts to distance himself from the club by handing its stewardship over to Chelsea's charitable foundation hit roadblocks. Swiss billionaire Hansjörg Wyss has already publicly expressed an interest in a deal while claiming that there are three other contenders. Wyss is part of a consortium that is understood to include Todd Boehly, part owner of the Los Angeles Dodgers and Los Angeles Sparks.

Notably, Abramovich has confirmed he will "not be asking for any loans to be repaid." Chelsea's most recent accounts showed that they owed around $2 billion to their owner, who has financed a remarkable level of spending over the 19 years since he bought the club for just over $230 million. Abramovich says the "net proceeds" of the sale will be distributed to the victims of the war in Ukraine through a foundation he will set up.