AceShowbiz - Roman Abramovich has finally succumbed to the growing pressure to sell his English soccer club amid Russia's invasion of Ukraine. The Russian oligarch has announced his plans to sell Chelsea FC with all proceeds going to help victims of the war in Ukraine.

Abramovich officially put up Chelsea FC for sale on Wednesday, March 2. "I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC," he said in a statement. "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."

He continued, "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."

The oil tycoon added, "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."

Abramovich, who is worth more than $13 billion, bought the club for more than $187 million in 2003. Following the decision, Chelsea midfielder N'Golo Kante admitted that it came as a huge shock to him and his teammates.

"It's something we are not prepared for, it came quick," Kante told Sky Sports when asked about Abramovich's impending exit. "The only thing we can do, because we don't control these things, is to do the best playing football as we have always done, for the club, for the fans." He added, "It's hard to see things like this. We hope it finishes as quickly as possible and in the best way."

Abramovich, who was known to be a confidant of former Russian president Boris Yeltsin and current Russian leader Vladimir Putin, has vehemently denied that he has any links to Putin and the Russian state. He, however, has not called on Russia to stop the war, prompting swift backlash levelled at him.

The 55-year-old has reportedly put his London properties up for sales amid fear of being sanctioned. He has reportedly been in Belarus "helping with the talks" on behalf of the Russians. A spokesperson for the billionaire said, "I can confirm that 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."