Last updated on March 2, 2022, 10:10 p.m.
Roman Abramovich has confirmed he is selling Chelsea.
Abramovich, 55, has found himself under intense scrutiny since Russia invaded Ukraine.
And the Russian billionaire has now made the decision to part ways with the club he purchased in 2003.
In a statement released on Chelsea's website, he said: "I would like to address the speculation in the 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. I believe this is in the best interest of the club, the fans, the employees, as well as the club’s sponsors and partners.
"The sale 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.