Billionaire winery owner could buy Chelsea Football Club

As Roman Abramovich confirms that he is intending to sell Chelsea Football Club, a Swiss billionaire businessman and California winery owner reveals he has been approached to be given the chance to purchase the London club.

Hansjorg Wyss, the Swiss billionaire who made his fortune in the medical device manufacturing business, revealed earlier this week that he had been approached by an intermediary with the opportunity to purchase Chelsea Football Club from Roman Abramovich.

Wyss owns the Halter Ranch winery in California, which produces “sustainably grown Bordeaux and Rhône-style wines” on the state’s Central Coast.

Abramovich confirmed that he intends to sell Chelsea Football Club last night, amid the ongoing Russian invasion of Ukraine and sanctions being levelled against Russian oligarchs and banks.

The move appeared to follow a fresh call in Parliament for Abramovich to face sanctions. The billionaire revealed that he would write off some £1.5 billion in loans he has made to Chelsea since he purchased the club in 2003.

In a statement, Abramovich said that “net proceeds” from the sale of the club would be donated for “the benefit of all victims of the war in Ukraine”.

“Net proceeds” is believed to refer to the money from the sale of the club minus legal fees.

Hansjorg Wyss, who has a reported worth of £4.3 billion, is believed to have joined a consortium with Todd Boehly, the part-owner of the LA Dodgers baseball team who is thought to be worth £5 billion.

Wyss told Swiss newspaper Blick:

“Like all other oligarchs, he is also in a panic. Abramovich is trying to sell all his villas in England. He also wants to get rid of Chelsea quickly. I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.

“I have to wait four to five days now. Abramovich is currently asking far too much. You know, Chelsea owes him £2 billion ($2.67 billion). But Chelsea has no money. Anyone who buys Chelsea must compensate Abramovich. As of today, we don’t know the exact selling price. I can well imagine starting at Chelsea with partners. But I have to examine the general conditions first.”

In his statement to Chelsea Football Club’s website, Abramovich said that the sale “will not be fast-tracked but will follow due process.”

It is not clear if any sanctions could have an effect on Abramovich’s ability to sell Chelsea.