Roman Abramovich’s funds for war victims will not only go to Ukrainians | chelsea
Roman Abramovich’s plan to use the sale of Chelsea to donate funds to war victims in Ukraine isn’t just for Ukrainians, raising the possibility of money flowing back to Russian soldiers or their families.
Abramovich confirmed on Wednesday that he wanted to sell Chelsea and the Russian oligarch said all net proceeds – understood as money from any sale less legal fees – would be used “for the benefit of all victims of the war in Ukraine. “. The wording left open the possibility that the money was not entirely earmarked for Ukrainians injured, bereaved or otherwise affected by the Russian invasion of their country.
The Guardian sought to clarify that statement by asking sources close to the process whether there was any chance the charity fund could be used to help Russian soldiers injured in the war or the families of Russian soldiers. A key figure explained that the fund is for all victims of war and will not be tied to origin. More details were not provided, with Abramovich‘s team working with charity groups to determine how best to proceed.
It remains to be seen how much money from any Chelsea sale will go into the fund. It is unclear how the net proceeds will be deducted from any transaction. Neither Chelsea nor Abramovich‘s spokesperson responded to a question about the net proceeds process.
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Abramovich has come under increasing scrutiny since Russia invaded Ukraine and he has bowed to mounting political pressure to end his ownership. The 55-year-old’s announcement came after the latest call in parliament for him to face UK government sanctions.
Abramovich has vehemently denied allegations that he has ties to Vladimir Putin and the Russian state, or that he has done anything to deserve punishment. But those denials did little to silence critics of Abramovich, who did not condemn Russia’s actions. Labor MP Chris Bryant said the decision to sell Chelsea could be an attempt by Abramovich to avoid sanctions. Sir Keir Starmer, the Labor leader, also urged Boris Johnson to sanction the Chelsea owner.
Interested parties in Chelsea have sought to act quickly in case Abramovich is sanctioned, in which case a sale is unlikely to be allowed.
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In pursuit of money: who is Hansjörg Wyss?
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Born in Berne, Switzerland, on September 19, 1935. He studied engineering, obtained an MBA at Harvard, then worked in textiles in Asia and Europe. On the side, he sold airplanes – one sale introduced him to the co-founder of Swiss medical device maker Synthes. Wyss then founded Synthes USA in 1977 and in 2012 sold it to Johnson & Johnson for $19.7bn (£14.8bn).
What is it worth now? A more modest $5.8 billion (£4.3 billion), having, in 2013, signed the Giving Pledge set up by Warren Buffett and Bill Gates, pledging to donate most of his fortune. His Wyss Foundation — focused on environmentalism and progressive, anti-Trump politics — holds more than $2 billion in assets. In 2018, he pledged to donate $1bn (£751m) to environmental causes.
Controversies? His financial influence on US politics, as a non-US citizen, has drawn criticism – but he remains focused on pushing an anti-populist agenda. Asked about Brexit in 2019, Wyss told Swiss newspaper Neue Zürcher Zeitung how voters had been “deceived by populist statements… For the sake of the British people, I hope there will be another vote when all the facts will be on the table”.
So why Chelsea? He hasn’t shared his vision, but the 86-year-old Wyoming resident isn’t going it alone, with LA Dodgers co-owner Todd Boehly being part of a consortium. Boehly, an investor, billionaire and fellow philanthropist, had a solo takeover bid for Chelsea rejected in 2019 and has previously been linked with Tottenham. He told Bloomberg at the time: “One of the great things the Premier League has is that it’s a Saturday morning in America. So you have an unencumbered time slot which is now completely dominated by the Premier League. When I was growing up, Pac-Man, Donkey Kong, but I certainly didn’t know Manchester United, I didn’t know Chelsea, I didn’t know Tottenham. Kids today are fully aware of what’s going on. best and the Premier League is the I continue to believe there is a global opportunity for top clubs. David Hills
Todd Boehly and Hansjörg Wyss are increasingly confident of the success of their bid to buy Chelsea and are expected to intensify negotiations with Roman Abramovich this weekend. Sources said at least one other group is preparing to make an offer this week.