Russian businessman Roman Abramovich has chosen to sell Chelsea as revealed by his official statement shared by the Chelsea Twitter handle on Wednesday.

“I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC. As I have stated before, I have always taken decisions with the Club’s best interest at heart. In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners,” Abramovich said.

“The sale of the Club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and Club. Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery,” he said in the statement.

“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. However, I do believe this is in the best interest of the Club.”

“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart,” he concluded.

Abramovich is believed to have close contact with Russian President Vladimir Putin. For the time being, he has not been named on a developing British sanction list focusing on Russian banks, organizations and supportive of Kremlin investors.

Yet, Abramovich's anxiety about the expected seizing of resources is perceived to have ignited his transition to off-stack the Blues.

A spokesperson for Abramovich confirmed he is in talks to try to broker peace between Russia and Ukraine. “I can confirm Roman Abramovich was contacted by the Ukrainian side for support in achieving a peaceful resolution, and that he has been trying to help ever since. Considering what is at stake, we would ask for understanding as to why we have not commented on either the situation as such or his involvement,” as per reports.

Russian film director and businessman Alexander Rodnyansky is believed to be a key facilitator in Abramovich's involvement in peace talks. "Although Mr Abramovich’s influence is limited, he is the only one who responded and taken it upon himself to try. If this will have an impact or not, I don’t know, but I am in contact with Ukraine president Zelenskyy’s staff myself, and know that they are grateful for his genuine efforts,” he said.

Following the initial statement, Chelsea manager Thomas Tuchel was asked about Abramovich and the impact it had on the club's future. Last week Tuchel admitted uncertainty loomed over the club going into the League Cup final against Liverpool (which they lost on penalties).

But the German manager acknowledged his day-to-day work and process will not change even if the owner does.

In the press conference ahead of the FA Cup tie to face Luton, Tuchel faced one question too many on the Chelsea owner and snapped. "You have to stop, I am not a politician,” he said. “I can only repeat myself, and I feel bad to repeat it as I never experienced war. So even to talk about it, I feel bad. I'm very privileged as I sit here in peace. I do the best I can but you have to stop asking me these questions as I have no answers for you," he added.

On the pitch, Chelsea beat Luton Town 3-2 in the FA Cup fixture. Tuchel tried to stay focused on the job at hand. "It's a big situation and (the players) can understand it. So there will be a lot of reports but we try to do what we do to cancel the noise and to stay focused which is not always easy," he said.

The travelling Chelsea fans sang Abramovich's name and their new favourite chant "We've Won it All". The chant comes just months after Chelsea won the FIFA Club World Cup in Abu Dhabi, which also happens to be Abramovich's last public appearance watching his team.

What is Chelsea's record under the ownership of Abramovich?

Abramovich paid £140 million to buy Chelsea in 2003 and the appointment of Jose Mourinho as manager helped shatter Manchester United and Arsenal's stranglehold on the Premier League.

Chelsea has won 19 major trophies in the Abramovich era, including their first two Champions League crowns (2011-12 and 2020-21) and five Premier League titles (2004-05, 2005-06, 2009-10, 2014-15, 2016-17). Domestically, they won the FA Cup five times (2007, 2009, 2010, 2012, 2018), League Cup thrice (2005, 2007, 2015).

After winning the 2012-13 Europa League, Chelsea became the fourth club and first in England to do a "European treble" - winning all the European cup competitions that existed until then.

Luton Town fans chanted "You bought it all" aimed at Abramovich's outlandish spending to bring in the best talent. Romelu Lukaku (£101.7 million), Kai Havertz (£72 million) and Kepa Arrizabalaga (£72 million) feature in the list of most expensive Premier League signings.