Roman Abramovich is looking to buy Spanish club Valencia once the sale of Chelsea is complete, according to a rival bidder.
The Russian oligarch confirmed last month that he's selling the Premier League club, which he bought in 2003 for about £140 million. Following Russia's Ukraine invasion, the threat of sanctions and freezing of his assets forced his hand to exit the London club.
Despite Chelsea's sale on hold due to the UK government sanctions, the Stamford Bridge outfit continues to see a bidding war from interested parties.
As Chelsea are desperate to find a new owner amid a budget crisis, Abramovich appears to have his sight set on another club already.
La Liga giants Valencia have also been put on sale by their current owner Peter Lim. Rival bidder Miguel Zorio has claimed that Abramovich is interested in buying Los Che.
Zorio, who's planning to launch buy shares in the Spanish club from Lim this month, has also said that the Russian billionaire is currently leading the race to buy Valencia. Plaza Deportiva reported a letter from Zorio, where he said:
“Peter Lim has tried to sell the club in London for €250million and has not succeeded. Lately, he has leaked to international media that he has two purchase offers, mine and that of the Russian oligarch of Chelsea. And from here, I tell him that either he puts €50m every year to compensate for the losses he generates or he sells to us. Whether he likes it or not.”
Valencia have fallen into financial turmoil under Lim, which has seen them go from being a top-four side to a mid-table team in La Liga. Many star players have also been sold, but inadequate replacements in the last 18 months have left the club's fans disgruntled.
Bid for Chelsea heating up
Chelsea are preparing to usher the post-Abramovich era as the bidding process is currently in full swing.
The Ricketts family, Todd Boehly, David Blitzer and Josh Harris, and Stephen Pagliuca have all made bids. American billionaire Kevin Griffin, who's net worth is four times that of Abramovich, recently flew to London to hold talks with Chelsea, heating up the race to buy the London club.