Abramovich puts Chelsea up for sale for £2BILLION
Abramovich puts Chelsea up for sale for £2BILLION (The Times)
The bank is said to have valued the club at
£2billion and Chelsea have engaged their
advisors after they helped Manchester
City
sell a 13 per cent stake in the club to
China Media Capital for £265m in 2015.
It is unclear whether they would look for
new owners or to sell a stake in the club
which Abramovich bought for £140m in
2003 but the move comes at a critical
time
for Chelsea, who look overwhelmed by the
scale of the wealth of clubs such as
Manchester City and Paris Saint Germain.
In May, following the political sanctions
Great Britain imposed on Russia in
response to the Salisbury poisoning,
Chelsea announced that Abramovich was
putting off a proposed £500m expansion
of Stamford Bridge.
They have failed to qualify for the
Champions League for the second time in
three years, having previously qualified for
the competition every year since
Abramovich took over.
They have also still to convince Eden
Hazard to sign a new contract or risk
having to sell him to Real Madrid next
summer when he will have just one more
year on his deal.
Chelsea need to rebuild the team under
new manager Maurizio Sarri after having
allowed talents such as Mo Salah, Kevin
de Bruyne and Romelu Lukaku to leave
the
club in recent years.
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