Chelsea Deny £2billion Abramovich Sale

Club Moves To Quash Rumours

Roman Abramovich  Chelsea sale

Chelsea are denying reports that the club is set to be sold by owner Roman Abramovich.

The Sunday Times claims Chelsea have called in US investment bank Raines Group to put a valuation on the club which has been priced at £2billion. Abramovich would then seek an overseas buyer.

The same bank recently secured the sale of a 13 percent stake in Manchester City to China Media Capital for £265million.

But Chelsea have moved to quash the rumours. Abramovich may be looking for the sale of a stake in the club along the lines of that secured by City rather than an outright sale.

The Russian businessman has found his presence in the UK restricted after it was decided that his Israeli passport would still restrict his ability to work in the country. Abramovich responded by putting on hold the planned redevelopment of Stamford Bridge citing “an unfavourable investment climate”.

The Blues face a second season in three years outside the Champions League after failing to make the top four in the Premier League last season. Manager Antonio Conte was replaced by Maurizio Sarri.

Earlier this year, Jim Ratcliffe of UK chemicals giant Ineos Group was linked with a £2billion bid.