Chelsea owner Roman Abramovich has hired New York bank Raine Group in preparation for selling off the club, according to The Sunday 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.
Huokmnpsyz
168
thanks,let Abramovichi go,he has done his best for the club,let new brain come in,I expected it,some months a go,after he was refused the British visor,what next,only to go,we thank him for bringing my Chelsea up to this level,new owner with new ideas,new quality,Chelsea will never be the same again,only to see a head,good luck the blues,no Abramovichi,or Abramovichi,am a sure blue with my blood,go go the blues.
Festus Omojuwa
77
Chelsea would have remained in the class of Midtable struggling clubs if not for Abramovich, I pray we get a worthy replacement for him. British authorities aren't any different from what we have in Africa, they frustrate opponents businesses in the name of whatever but it's still politically motivated.
Nicfoster
68
Abramovic has done so much for Chelsea. We thank him so much and will miss him but life at Stamford Bridge must go on, I'm sure he will still support the team. Gracias Mr Roman Abramovic the Russian billionaire
Rudimoolah
66
Somebody should give me Abramovich’s number.....I want to buy the club....
eshoikoyi1
61
I have no doubt in my mind that Abrahamovic done wonderfully well in Chelsea fc, he has succeeded taking Chelsea out of ordinary to extraordinary, he elevated Chelsea from middle level an elite club in Europe I think Abrahamovic deserve our praise. If bows out at last my only fear for Chelsea to get another great minds and tenacious owner like Abrahamovic but whatever happens I remain bluesss for live.
Huwbdlmotz
47
oh!my people iam sorry that I wanted to sell Chelsea ,but I don't have any other choice than to do that, because all my money have finished I don't even have a enough to feed my family so I have to sell Chelsea to get some money to feed my family and pay back some people that iam owning, this is my number if you care to buy +2357854457
SDBillionaire
38
There is difference between having an owner who is very passionate about the game and the club as well and there is different having an owner who just sees the club as business/investment. I will like to still have Roman the owner but if it happens so that he is indeed selling off, well I wish him good luck and I hope that our new owners will not only be business minded but also got mad love for the club as well.. Go Go Blues.
Adeyemi Gbadebo
33
That's awesome, impregnated with unclear clouds which is very difficult to name. Who can name the up coming boss and state how is character will be. If he left, we will surely miss him. his great passion for the game and team shall be forever in our memory. it was his passion that brought many of us in to light of real football.